WEALTH BUILDING TIPS AND TRENDS

Have you ever wondered why some buildings crumble during an earthquake while others remain standing ? Do you think some buildings are built better than others ? The answer yes, it's all in the construction ! The Financial Earthquake We all know what devastation an earthquake can cause because it is reported all over the news. Sensationalism sells, the more widespread the better. The financial earthquake happens more in the shadows and will rarely ever be reported on. This is simply because there is nothing to show, nothing to cause a sensation. Merely dwindling savings accounts and a few bankruptcies, hardly anything to report on. However, if not properly prepared, a financial earthquake can happen to anyone. The sad part is no one else really cares. How to be Prepared Just as the astute contractor builds a solid foundation upon which to build their building, so too should the average individual. Without a strong foundation, the financial earthquake can happen at an...

Have you ever wondered how the turtle has managed to survive throughout history ? How could such a slow moving creature not have become extinct long ago ? I believe that it's all in the shell ! Build Your Shell We could all take a lesson from the slow moving, well protected, cautious turtle. The first part is to protect yourself from all potential financial disasters. Example. loss of a job, loss of health, loss of life for your loved ones future. Get adequate insurance for everything you value. Your income, your health, your belongings and  even your very life itself. Build your shell of protection to ward off all financial disasters that could destroy your future financial wealth building plans. A must for anyone who wants to obtain true wealth. Step Slowly Step very slowly and cautiously with every step you take towards achieving your wealth. Do not step into something before understanding it totally. A missed step along the way could actually cause you to lose man...

What do you think the very first step is to creating a wealthy future ? Do you think it's landing a good job or winning the lottery ? Do you think it is marrying someone rich ? Answer = none of the above The Starting Point The very first thing you must do is create in your mind a "burning desire" for whatever it is you want to achieve in your lifetime (financially, that is) You must make this burning desire so intense that you will be able to sacrifice other things in order to achieve it. Chances are if you are reading this, you already have a strong desire to become wealthy. But what is the very first active step you can take to turn this desire into reality ? It is something extremely simple yet unobtainable for many. Step Number One Realize in your mind that you are entitled to keep for yourself at least ten percent of all income that you bring home. This amount that you are entitled to keep for yourself must be stashed somewhere safe before paying any ...

Have you ever wanted to know everything about everything ? How about to know everything about something ? Well, for most it is best to know something about a lot of things ! Why Be a Generalist The reason that it is best to be a Generalist is that it gives you a wide base of knowledge upon which to build for the future. To know something about a lot of things will make it much easier for you to spot deceptions and to avoid the many questionable opportunities that you will face in everyday life. To know something about a lot of things will allow you to protect yourself and your financial future from whatever the future may bring. It will also allow you to hire an expert in an area and still know enough to challenge or question any advise given. It will make it easier to maintain control over your future financial decision making, which is a must for building wealth. Don't Be A Know it All Never be afraid to admit that you don't know something. Nobody really likes s...

Do you think getting rich takes a complicated formula ? Do you think that getting rich is just too complicated to bother ? If you answered YES to the above, you may be quite surprised ! Complex Schemes Just Don't Work  You have probably noticed many investment schemes being advertised throughout most media sources. There have even been some that have created computer software to help simplify the process. These schemes and programs have two things in common. First, they all try to make you believe that investing and getting rich is very complicated. They try to convince you that you cannot possibly be successful without buying their product. This is totally not true. Second, they are all designing these schemes and programs to make money for themselves. I really have to question why these schemes and programs even exist. Let me explain. Let's say someone developed a complex formula for getting rich that was fool proof and never failed. If this did exist, do you th...

Have you ever looked at someone and instantly known that they were wealthy ? Did this person ooze wealth or was it something else you noticed ? Chances are, you could be dead wrong on your observation ! Appearance of Wealth I have seen and known many individuals whom I had thought on first sight were extremely wealthy. Much to my surprise, once I got to know them better, I realized they were far from the wealthy person I had envisioned. What many individuals try to do is make themselves appear wealthy even if they can't really afford the image.This type of behavior is what I call the "keeping up with the Jones' syndrome". This type of lifestyle can be very dangerous for those who truly want to be wealthy some day. Generally, these individuals must live beyond their means simply to maintain their image of prosperity. This means there will be no room in their lives to set aside savings and to invest those savings. Eventually they will have to borrow money ju...

Have you ever wondered how wealthy families have managed to keep their wealth throughout history ? Have you ever wondered why some family member didn't go crazy and spend it all ? The simple answer is education ! Learn to Teach It's great to have the goal of getting rich and making lots of money. But have you ever thought of how much good it is going to do if you lose it as fast as you get it? In order to have the most benefit for yourself and your loved ones, you must learn how to retain your new found wealth and preserve it for future generations. In order to do this, you must learn how to teach your next generation to make the right financial decisions. Unfortunately, our school systems never teach courses on wealth creation and preservation. These lessons are generally learned the hard way by trial and error, or if you are fortunate, through a mentor who can guide you through the many obstacles. How Wealthy Families Survive Wealthy families have the advantag...

At this point you should be well on your way to building your income producing portfolio. Hopefully, you have been able to find a few good quality investments that you can be comfortable with. If not, don't worry. It may be that the time is just not right to take action. Don't be afraid to keep building your cash (in your money market fund ) until the time is right or you become more comfortable with the process. Don't Feel Rushed You should never put yourself in a position where you feel rushed to make an investment decision. Take the time you need to learn about a particular investment and/or about the whole investment process. Once you become more comfortable and with a little experience, you will find that your decisions can be made much faster. Remember, your investment time horizon is the rest of your life. There is no rush to do anything until you fully understand. Review, Review, Review  Once you make investment purchases it does not mean you just forg...

Have you ever invested in an IPO only to see it falter ? Do you even understand what an IPO really is ? Be careful when looking at any IPO for your future ! What is an IPO Let's start by defining what an IPO (short for Initial Public Offering) really is. An IPO is created when a privately held company wishes to go public and start selling shares of it's organization in the public market place such as a stock exchange. In order to do this, the organization creates the IPO and establishes a reasonable value for it's shares based on it's economic fundamentals. It will determine how many shares will be issued and at what price. This is the general definition of the IPO. Why the IPO is Created   There are many reasons why a company may wish to go public. However, one of the most common is that the founder of the organization feels that he/she for whatever reason can no longer develop the organization to it's full potential. Another reason could be that the ...