4 Simple Steps to Increase Your Wealth
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Written by: Kevin Purfield
1. Believe you can
Before anything happens there is first a thought.
Nature does not give the ability to conceive an idea
without the ability to create it.
Believing you can do anything is the first step to
beginning anything. There are endless possibilities
available to you to create the life you desire.
2. Start a business
Start your own business and learn to be self-sufficient.
As you learn to build a business you will gain greater
control
and understanding of the amount of money you can create.
According to the book The Millionaire Next Door
self-employed people made up less than 20% of the workers
in America but accounted for two thirds of the millionaires.
Start your own business even if it's a part time home
business.
3. Develop residual income
Residual income is money you receive even if you do not
work.
An example would be if you owned an apartment building.
The renters pay their rent which pays the buildings expenses.
Any income above the expenses can be considered residual
income.
Another example of residual income would be if you owned
shares of stock in a company that paid quarterly dividends.
As a share holder you would receive divided payments
four times per year. You do not have to do any work for
them.
4. Buy things that increase in value
Many people appear to have financial wealth with their
possessions.
Cars, clothes, electronics gizmos, large homes. The fact
is that many of those things will not be worth what was
paid for them
in several years.
Buying high quality investments in real estate, stocks,
bonds
and building your own business are ways to increase your
wealth.
Many millionaires live well below their means. Many people
who have
high consumption life styles have little or no investments,
appreciable assets, income-producing assets or private
businesses.
Those people who can be defined a being wealthy get much
more pleasure
owning substantial amounts of appreciable assets than
from displaying a
high consumption life style.
About the Author
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Kevin Purfield owns the Wealth System Online Resource
Directory
where you can find everything you need to start,
run and grow a home based internet business at:
http://www.wealthsystemonline.com/pluginprofits.htm
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