Creating wealth in your life quickly and legally is a goal that many of us strive to achieve. We make promises and resolutions that this will be the year that we break through and start doing something to become financially independent. We want more out of life for ourselves and those we hold dear. We want our children to have a better life than we had. We want to be remembered as being someone that achieved greatness and cared about the people we loved. This is our nature and this is our calling.
The challenge with rapid wealth creation is often the time involved. Our society has become accustomed to receiving everything very quickly. We have fast food, express lanes on our highways and even in stores. We are all so busy and demanding that we sometimes lack the patience to wait six months or a year for something that we truly desire. When it comes to creating wealth, you might have to keep this in mind. When you become frustrated and tired and just want to give up and go back to watching TV on the couch, remember these words. Anything worth having is worth working for and waiting for.
First, pay off as much debt as possible. If you are living paycheck to paycheck or you find that you're simply not getting ahead, debt might be the problem. Having a plan to pay off all your debt from the smallest to the largest debt should be your goal. Interest payments are a bill that you don't want to be paying every month. That money can be used for other things. It's your money, after all. Wouldn't you rather hold onto it?
Leverage your time to start a small business. This time spent creating a business and executing that plan will pay you huge dividends in the future as your business grows. All of us have skills that we can make profitable. We all have interests that with very little effort can be turned into a marketable asset for you and your family.
Maybe you love fly fishing or boating. You could start a business building canoes or as a fly fishing guide. Perhaps you have a knack for interior design or home staging. You could start a business based around this interest or you could write a helpful book that includes your knowledge and expertise. Now, before you discover everything wrong with this plan, keep in mind that you are probably being resistant to change. There are people that start very profitable businesses using this very method every year. Why shouldn't you do this again? If you're worried that this business is going to consume all your free time or that you're going to grow to hate your chosen interest then just relax. For every problem there is a solution.
While anybody can start a small business and make it somewhat profitable if they are talented at the business that they are focused on, growing a business is often another story. Being able to grow your business so it provides a substantial income requires diligence and strength. You will be tempted to spend the money that you make. A wise investor and businessman invests his profits back into his business. Investing in advertising and hiring some part time help, at first, will help you to quickly scale your business into a thriving monster in no time. Soon you'll need more help and employees as your business grows exponentially. As your business grows you can either bring on a partner or hire a manager to take care of running the business when you wish to enjoy life or live that life of financial freedom that you dream of.
In addition to expanding or growing your business, it is wise to invest in other revenue generating vehicles. You can either start another business or invest some of your profits into stocks, bonds, precious metals such as gold or any other investment that you are familiar with and feel comfortable with. Plan your investments to work together with your financial goals. Pick both long term and short term investments that will give you the flexibility to reap rewards quickly as well as those investments that offer tax benefits and long term earning potential for later on in life.
As you can see, by lowering your debt and creating more profit in your life over the next year or two, you can turn your life from one of existing into one of financial abundance. Be ruthless with yourself during this time. There will be days when you want to forget about this idea. It is those days when you need to be strong and stern with yourself. Your financial future depends upon it and the sooner you get to work the more quickly you are going to be able to create the kind of wealth you dream of.
The challenge with rapid wealth creation is often the time involved. Our society has become accustomed to receiving everything very quickly. We have fast food, express lanes on our highways and even in stores. We are all so busy and demanding that we sometimes lack the patience to wait six months or a year for something that we truly desire. When it comes to creating wealth, you might have to keep this in mind. When you become frustrated and tired and just want to give up and go back to watching TV on the couch, remember these words. Anything worth having is worth working for and waiting for.
First, pay off as much debt as possible. If you are living paycheck to paycheck or you find that you're simply not getting ahead, debt might be the problem. Having a plan to pay off all your debt from the smallest to the largest debt should be your goal. Interest payments are a bill that you don't want to be paying every month. That money can be used for other things. It's your money, after all. Wouldn't you rather hold onto it?
Leverage your time to start a small business. This time spent creating a business and executing that plan will pay you huge dividends in the future as your business grows. All of us have skills that we can make profitable. We all have interests that with very little effort can be turned into a marketable asset for you and your family.
Maybe you love fly fishing or boating. You could start a business building canoes or as a fly fishing guide. Perhaps you have a knack for interior design or home staging. You could start a business based around this interest or you could write a helpful book that includes your knowledge and expertise. Now, before you discover everything wrong with this plan, keep in mind that you are probably being resistant to change. There are people that start very profitable businesses using this very method every year. Why shouldn't you do this again? If you're worried that this business is going to consume all your free time or that you're going to grow to hate your chosen interest then just relax. For every problem there is a solution.
While anybody can start a small business and make it somewhat profitable if they are talented at the business that they are focused on, growing a business is often another story. Being able to grow your business so it provides a substantial income requires diligence and strength. You will be tempted to spend the money that you make. A wise investor and businessman invests his profits back into his business. Investing in advertising and hiring some part time help, at first, will help you to quickly scale your business into a thriving monster in no time. Soon you'll need more help and employees as your business grows exponentially. As your business grows you can either bring on a partner or hire a manager to take care of running the business when you wish to enjoy life or live that life of financial freedom that you dream of.
In addition to expanding or growing your business, it is wise to invest in other revenue generating vehicles. You can either start another business or invest some of your profits into stocks, bonds, precious metals such as gold or any other investment that you are familiar with and feel comfortable with. Plan your investments to work together with your financial goals. Pick both long term and short term investments that will give you the flexibility to reap rewards quickly as well as those investments that offer tax benefits and long term earning potential for later on in life.
As you can see, by lowering your debt and creating more profit in your life over the next year or two, you can turn your life from one of existing into one of financial abundance. Be ruthless with yourself during this time. There will be days when you want to forget about this idea. It is those days when you need to be strong and stern with yourself. Your financial future depends upon it and the sooner you get to work the more quickly you are going to be able to create the kind of wealth you dream of.
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