How To Build Wealth By Mark Walters At Isnare.com Ezine Articles

There are only three ways to build wealth.

1. You need to earn it.
2. You need to save it.
3. You need to invest it.

There comes a time in many people’s lives when they rebel against the status quo. Achieving high marks on the SATs, earning a university degree, working for the right company, and spending 10 years helping someone else build wealth will never help you do more than earn a comfortable living.

No company is managed in a way that allows more than a few people at the very top build wealth. How many times have you read a budget that shows how 2 – 5 people at the top of the company are earning millions a year, the main managers are earning more than $200 000 a year, but everyone else is barely enjoying a comfortable lifestyle. Face it, the current business model is not designed to share the wealth.

Earn Wealth

That is why more and more people are looking for alternative sources of revenue, and multiple streams of income, to build their own wealth, and help them enjoy the lifestyle they were promised upon entering university.

Work at home and home based business are becoming the norm. There was a time, about four years ago, when anyone working from home was either considered a scammer, or just wasting time. Now, only a few die-hard factory workers fail to see the merits in a work at home business.

There are two ways to earn more money, qualify for a raise and improve your ability to market your skills, or work for yourself and your own interests.

Some people only need a few hundred extra dollars each month to reach their goals. This can be easily earned by either upgrading your skills, or outsourcing them.

Saving Wealth

There are several ways to save wealth. It can be in the form of a property or bullion purchase that will maintain, and increase, in value over the next decade or two.

Government bonds and pensions also offer a method of investing. The important thing to remember is that saving is a long term venture, in most cases. Do not invest in a savings strategy if you need the money in less than two decades.

That is because the wealth accumulates slowly at first, but increases more rapidly as time goes on. The profit earned in year one is markedly lower than the profit earned in year 19.

Another way of saving is to trim the fat. Many people are building real wealth by cutting their monthly expenses by a few dollars, or omitting one vacation a year. They may drive their car an extra year, or they may even flip their house instead of renovating it.

The trick is to invest every penny that is scrounged to add to the wealth building pile. There is an old saying, ‘a penny saved is a penny earned.’ This mind set created wealth for many of today’s dynasties.

Investing

Trading is a centuries old practice. The objective is to trade your product for a product of equal, or greater value.
Investing can be quick, as in flipping properties. It can also be long term, like buying property in a developing country and waiting until a housing shortage creates a market boom.

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