Archive for the ‘Freedom day’ tag
How to build wealth with simplicity
Checking out the many free Webinars and Seminars offered by wealth making gurus, it sometimes seem that they always present having a normal job is a major sin. I disagree with that view 100%. Bottom line, it depends on what you want. You could work hard and smart then get promoted and make good money as an employee anyway. The real approach again, is to know what you want then work towards it. Now I agree with them that if you approach this in a naive way, you will not achieve that ultimate goal. Here are some pointers I have in mind for the average or any person.
1. The Employee – This means you don’t have a problem working for someone since you probably like the job of executing in specific field such as Art, Engineering, Software, accounting etc. The basic motto in this role is to focus on saving and investment. Notice I used the word investment. This will be the key to giving you some security long term. Saving is not enough as inflation and other factors will wipe it out. The other issue with employment is that you could seek out ventures or employers that provides reasonable equity in the business. This would allow you to see the fruits of your labor over time.
2. The Investor – This person is someone that focuses on funding projects by whatever means. This could be indirect as in using the stock market or directly into a known venture. Typically with this approach, you would need cash or access to cash from other people. It may not be wise to depend too much on bank money to achieve this. A way get money for this would be investing in Shelf Corporations with funding then use that funding to participate in high returns programs (won’t say much on that here yet). The proceeds could then fund your venture of choice. Bear in mind that investing could just mean you own a couple properties with good income generation and stability. Especially with an interest in leisure traveling, you may not want something that constantly need your attention.
3. The Business Person- This person is literally a combination of the Employee and Investor. In other words, they are using their skills and investment interest to create one or more businesses. Most times a business person need to be fully involved upfront to get things going then as time passes they can move into more of an investor role in that venture. The key to being a good business person is to test your ideas at all times and focus on the big picture. Where do you want to go with this? Always get help in as many aspects as you can early. This means having a successful business person as a mentor is very good idea. One simple way to start is to look into acquiring a franchise as this has some leg work already done. All you need in that case is the capital and proper location for the business. The same approach would be recommended as those of the investor. Use Shelf Corporation credit to generate cash then you would have more leverage to accelerate your business.
In all of this, there is one thing I agree with the seminar producers and wealth coaches, you want to achieve your freedom day. Now this freedom could be different for everyone. One option is to have less liability while having a job where you can get some good vacation. If you look at this in terms of freedom day, then you will not be too greedy while confident enough to achieve your goals.
More to Come, next time
