A royal question...how do the rich get rich? Its exactly the type of question you should be asking if your investigation is for the purpose of personal wealth. YOU will get rich how the rich get rich because there is no point re-inventing the wheel. Before I describe for you clearly what the mechanism is for wealth, we should establish that personal wealth comes with persistance. But not the kind of persistance you may think. All rich people started with nothing. Having no money is not a barrier to wealth. Lacking knowledge absolutely is a barrier. When you first decide that wealth is worth prusuing, the question becomes how. I believe we all are aware that a plan of some description would be a nice idea. Of course that is not always possible without the specific knowledge you need. There are plans and there are templates. I firmly assert that what you need is not a plan or schedule but rather a template. Something that gives you a reproduceable result that can be duplicated aggressively. On small scale or large scale, the principle's remain the same. The rich get rich in an orderly expected fashion. It doesnt matter which "vehicle" you may use to gain wealth, however obviously some vehicles are better than others. For example real estate is a particularly solid path to wealth. To become rich as the rich do you will need to understand the concepts of leverage and pyramided profits. By finding an activity that produces a measureable fiscal result over a given time frame, you may then move on to leverage that result on a bigger and bigger scale. That in a nut shell is what all wealthy high net worth individuals do. It need not be a huge result. A simple action, like buying and selling a house for a profit is an example of what Im talking about. A $10,000 profit like that can be "ramped up" and the template followed and exponentially re-applied for bigger and bigger returns. Something to keep in mind is timing. There are certain financial climates that are better then others. They happen in cycles and certain industries or areas are more lucrative then others. It doesnt last for ever but it comes and goes over say 3 to 6 year cylces. Wealthy people "follow the sun" so to speak. They for example may like real estate on the up years, but when they sense the climate is slowing down they have another area they invest in that works well usually when the real estate star is on the fallow. Thats really the essential parts of wealth building. Of course you have alot more to learn. Specifically how it is done. There are many fine resources. Opportunity investment is simply a systemized version of what the rich have known for centuries. There are areas you need to explore like salesmanship and negotiation. Also know the specific rules, laws and contract srtuctures of the area or business you wish to use to build wealth. My very best to you. copyright-This article may be cut and paste by anyone any time as long as it is not edited or changed in any way. The resource box must accompany the article and the link must remain active. No written permission is required. |
