Creating wealth is easier than you think. There is an actually a system to becoming rich. I warn you though it is deceptively simple. As you read let the concept truly sink in.
Here it is: Becoming wealthy is simply about creating cash sources and consistently investing them.
The cash sources can be:
- online businesses
- real estate that pays an income
-investing in other people's businesses
- Dividend payments
- or anything else that brings you a consistant cash flow
You set up a cash source and put it on automatic pilot. Then you reinvest your profits:
- in your business
- in personal investments
- and in your personal money market account
Pay yourself first at all times.
Here is how to create wealth through business ventures:
Decide whether you want:
- a hands on business
- to be a silent partner in someone else's business;
- or to have your own business that you set up and have others run.
By owning your own businesses i.e. cash machines you open yourself up to many tax incentives and write offs. The money that you save this way is added money in the bank.
Really analyze your personality and see which of those options you will actually stick to. Set up these cash machines to run as much on automatic pilot as possible. Being wealthy is not just about how much money you have in the bank but also about the quality of life that you allow yourself and your family.
Then decide the type of investments that you will consistently invest in based on your personality type:
- Do you want to personally handle your investments or have a money manager invest them for you?
- Do you choose a diverse selection of investments or specialize in one area?
- Are you looking for long term growth, extra income or hopefully both?
-What level of risk are you comfortable with?
- What percentage of your profits are you willing to invest monthly to grow your wealth?
Remember that all sectors have ups and down. Look for investments that will provide you short and long term gains. Diversify your portfolio enough so that you can achieve this. And hire a good estate planner to help you protect the wealth that you are building.
Also do not put your money in a standard savings account. The interest is miniscule. Look at money market accounts and find the ones that pay the highest interest on your money. At this time ING and Virtual Bank have some of the highest yields on the market. You are not looking to create wealth through these interest rates alone. But if you do have to park your money somewhere while looking for investments, you might as well take those extra interest points.
Remember these are all very personal decisions. Make them based on your comfort level and stick to it. If you do just this, create a wealth plan and automatically mantain it, then you will soon find that creating wealth can be very easy.
Caterina Christakos is a published author and entrepreneur.Looking for an automated cash machine that pays high commissions and has an automated marketing system in place, including a ton of co-ops? Check this out: http://www.thousanddollarprofits.com/travelandearn