There are a number of things that we can do that will enable us to build personal wealth. Some of the things are affirmative and action-oriented. Some of the things are simply to not do some things.
Sometimes this is easier said than done. Below are five basic ideas for beginning to build wealth that has application in the modern world. Take a look at them and digest them in the context of your own life and experience. While each of us is different there are many aspects of life that affect us all. You are unique, but many others share your situation in life. The things that work financially for others can work for you, too. Here we go.
First, decide that you want to begin building wealth. This is an important decision because it leads you to prioritize the events of your life in a slightly different way. It may be as simple as spending time on financial sites or reading up on current events. Once the decision is made to begin the journey to building wealth, the world may begin to look a bit different.
Secondly, start! This is so important. Many people make a decision to do something and then don’t follow through! For a long, long time it had been very difficult for a beginning or small investor to get started building wealth for themselves. It often seemed as if the entire investment world was built for rich people to get richer.
Now, for the first time, it is possible to get started investing for just a little bit of money. When you are young you can get started, then invest more, and build a portfolio over the long term. But remember, this portfolio has to start some time -- and the time is now!
Third, make a plan. We here are RealyInvest love plans! A good investment plan is one that begins now, builds slowly over time, and eventually becomes significant. Slow and steady wins the race. Long-term, conservative investments are the way to go.
At RealyInvest we strive to make it easier for you to make a plan for the long term. Our unique idea is to bring the world of premier commercial real estate to beginning investors in a simple, accessible way. Our plan is to educate and enable you to build wealth, hopefully, substantial wealth, over the long term. We love to work with you and facilitate your plan and your needs.
Fourth, start setting goals. What we mean is this: think of where you want to be financially in, say, ten or twenty years from now. When you have a goal, you have a much better chance of achieving it. Other goals may be to build up an asset base, produce an income stream or gain some financial security.
Fifth, have some fun with it! This is key. If you are not having a good time with your investing you will likely not stick to it. We here at RealyInvest love to make investing enjoyable. Building a diversified portfolio of premier commercial real estate is kind of a cool thing. It can be fun to own share interests in a Taco Bell building or shares in a REIT that is Amazon’s landlord. Every time you eat a chalupa or order a new book, celebrate!
Enjoy your investing life!
Learn. Invest. Prosper.