Three Predictable Ways to Build Wealth

in #blog7 months ago (edited)


Qries

Definition of Wealth – Some believe wealth is determined by how many material things are owned such as cars, houses, tvs, etc. However, the true definition of wealth is an abundance of resources either held as a store of value (historically as gold and silver) or productively such as in a business (as owner/operator or shareholder) or rental real estate.
Many people believe others are rich because they have high incomes and lots of material possessions but rich are very similar to the poor where they spend every pay check or more (through debt) on material goods whether that be food, shelter, entertainment etc.

Join me on the path that produces true wealth and financial independence. The first skill that needs to be learned is to spend less than you earn and save for the long term. This is not the same as saving for your next car purchase or the latest electronics. The easiest way to save is to pay yourself first. Make savings like a bill that most be paid before all other bills. Either have work send a certain amount to a separate savings account or have your checking account automatically transfer that amount to savings each month.

Talk about the Forbes Wealthiest List: Most are business owners, few are real estate developers and a couple are investors (ie Warren Buffett).

Wealth Generators: Business, Real Estate, Investing

Conclusion:
Besides waiting, hoping and praying for a lottery win I encourage everyone to take the more predictable path of persistence, patience, and determination. True wealth is built over years and is available for anyone who chooses.


Qries

Disclosure: I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. The information provided should NOT be considered advice. The topics discussed are risky and have the potential to lose a substantial amount. I am not an investment professional and therefore do not offer individual financial advice. Please do your own research before investing.



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