It's always been the plan of action for
the people who came before you, and now you are expected to do the same — get
an education, find a job, and use your income toward your necessary expenses.
This income, many people believe, is all that's needed for a person to be able
to adequately feed, clothe and shelter himself and his family and meet all
financial obligations such as paying school tuition fees, purchasing and
maintaining a car (or two), paying off a mortgage, and more.
What people fail to realise, however, is
that this is the exact same practice that will set them up for definite
financial failure. The belief that simply using the paychecks you receive to
pay for everything you need (just in time for the set due dates) is enough to
let you keep a decent, comfortable lifestyle has kept individuals and families
across the globe to miss out on so many positive opportunities to build actual
wealth — wealth that can mean greater financial security and stable retirement
years to look forward to.
Only a very small percentage of the
global population can be considered truly wealthy, while the rest may end up
clocking in their hours at work for as long as they possibly can and still
failing to pay for their own homes and clear up outstanding debts or loans.
If there were a conversation that people
can join to learn about wise strategies for handling their finances, more
people would be able to pull themselves out of financial ruts and take actual
steps toward a brighter financial future. There's good news, though — there is such a conversation; it's one that
you should be having with certified investment specialists who can help you set
up a plan for attaining the life you want.
JDL Strategies, a team of financial
planning advisors that has helped hundreds of Australians become millionaires
using an exceptional wealth management strategy comprised of aggressive debt
minimisation, pro-active tax deduction and planning, and intelligent investment
management, offers this two simple yet key steps that can get you started on
building your own wealth.
1. Come
up with a figure — how much do you need to become rich?
In this aspect, you can never aim too
low or too high — as long as it's an improvement from your current financial
status and you're willing to work hard to attain this goal, go ahead. The $1
million, $10 million or $20 million goal you select will help you measure your
progress as you go about your strengthened financial strategy.
2. Make
regular, small investments toward this figure.
Accumulating capital is the single most
important thing you can do to get you started on wealth building. Set aside
whatever you can afford on a regular basis so that you have the resources to
purchase important assets. These assets should ideally be properties — there is
much to be gained from leveraging properties for your financial security. The
experts at JDL Strategies even encourage their clients to purchase investment
properties first before buying their own house — a calculated, yet immensely
rewarding move.
With these two steps, you can launch
yourself into a fruitful journey toward wealth creation and break free from the
limits imposed by the dependence on a single income source.
Do you have have any questions or suggestions? Write in comment section.
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