Tuesday, September 4, 2012

How to Get Rich - Learn 3 Magic of Money Secrets

Do you ever wonder why getting rich seems easy for others ?

Do you wonder what secrets they must possess ?

Truth is, they understand the Magic of Money and how to make it work for them !

Work for Your Money

Most people understand that you must get a job and trade your time for money. This is how you pay your bills and maybe someday save for your future.

However, most people do not understand how to turn the tables and get money to work for them. The rich understand this principle very well. They have mastered the art of the Magic of Money !

Turn the Tables 

In order to turn the tables as the wealthy do, there is one simple lesson to learn. You must have some money in order to have your money work for you. Pretty simple.

However, most of us start out with no money. Then how do you get money ? Some inherit money, some win money and some even steal money. But those cases are rare and are not the ways you should be concentrating on to get your money. For most, you must learn how to save a portion of all you earn, then invest it. Simple. Try saving ten percent of what you earn today !

Magic of Money

1) The saving of ten percent of your income is something I have mentioned many times, but it is one of the most valuable aspects of the Magic of Money. It is the very first step for most of us in creating future wealth.
Without some money, how will you ever be able to have your money work for you ?

2) The Rule of Seventy Two is a very magical way to calculate your future wealth. Simply take the number seventy two and divide it by the rate of return on your investment. The answer will give you the number of years it will take to double your initial investment providing the income is reinvested. Simple, but very effective in projecting your future wealth and income from your investments.

3) The Fifty Twelve rule is basically investing in a way to create an income stream of fifty dollars per month. I have mentioned the details of this method in a previous posting, so I will not repeat it here. To build your income, you simply divide your desired monthly income level by fifty and create that many modules. Simple, but very powerful.

The above three secrets of the Magic of Money are all you really need to start on your way to building your desired level of income and your desired level of wealth that you desire.They can form the very core of your wealth building strategies.

Of course, there is much more you can learn in the world of finance and I encourage you to learn as much as you possibly can. However, these three basic principles (or secrets) can go a long way to ensuring you have a bright and prosperous financial future.

To turn the tables and have your money work for you, you simply must have money. Learn how to save, learn how to invest, then watch your wealth grow.

As always, I welcome your comments and suggestions for future topics.

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