WEALTH BUILDING TIPS AND TRENDS

Do you think you can get rich by paying too much for your home ? Do you think the wealthy ever get caught on the wrong side of a real estate deal ? The answer to the above is a resounding NO ! Your Home as an Investment A common phrase often heard is that your home is the biggest investment you will ever make. I am not sure how this old saying ever got started, but my money is on the banking or mortgage industry. They are generally the ones with the most to gain from you having too big a housing debt. First of all, the real estate that you live in is not really an investment. If you can't draw an income from it, then it is really just a place to live. I find it amazing how most individuals have been convinced to think otherwise. Why is it that everyone seems to be obsessed with buying a home well beyond what they can afford or even need? The answer is marketing ! From the banks, the home improvement companies, and yes the numerous reality tv shows. What a scam ! A Place...

Do you think the wealthy go through life without ever facing challenges ? Do you think they never have to solve problems to get what they want ? Of course not, everyone has challenges ! It's what we do or don't do to overcome those challenges that make the difference ! Your Biggest Challenge The first step to overcoming your challenges is to identify your biggest challenge. What is the one big monster in your life or the biggest elephant on your back so to speak ? For some it may be digging themselves out of debt. For others it may be earning more income to meet current expenses. Whatever it is, you must learn what you need to do and then just find a way to do it. Remember, if you do nothing to overcome your challenges, you will go nowhere financially. Determination The one big thing that separates successful individuals from the average individual is determination. You will notice that a successful person has lots of energy and will not let anything stand in th...

Do you know what is significant about the number 72 ? Do you know why it is so important to building wealth ? If you read my last posting you do ! 72 is a Magic Number Further to my last posting, I would like to explain further why the number 72 is such an important tool for you to use in building your wealth. As previously explained, the rule of 72 states that if you divide the number 72 by your investment's current rate of return and assuming you reinvest all of your compounding  income once a year at the same rate of return, the resulting answer will be the number of years it takes to double your money. Ok, pretty straight forward. But why is it so important to building your future wealth ? Let me explain by example. Suppose you invest $10,000.00 at a  yield of 10% rate of return paid annually. If you reinvest your annual income every year your investment would be worth $20,000.00 in 7.2 years. Now suppose your investment only yields a 5% rate of return...

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...