There is a lot of talk about financial freedom, being rich or having wealth. One thing is true, wealth takes time. We have to invest our money in order to build the lifestyle we want. For me, that means a quality and luxury life. I understand not everyone wants to be rich. You may not have the capacity to manage millions of dollars. I believe it is wise to reach for financial success. If you are someone who desires and have the capacity to build wealth these next few steps are for you.
1.) Save your money
I know that is simple but so many don't do it. If you don't know where to start saving is a good place. You can not invest if you don't have the money to. Even if you don't have the knowledge, connections or mentors you feel you need to get started, the least you can do is save a percentage of your earnings to prepared. You also want to build your personal credit and if you have a business, build your business credit as well.
2.) Educate yourself
While you are saving your money to invest you will need to educate yourself on investing or the type of investing you are interested in. Most wealthy people say build a diverse portfolio which means you will need to have knowledge on several different assets classes. However, many people have their specialty or preferred way to invest. For example Robert Kiyosaki likes real estate were as Warren Buffet like stock investing.
3.) Take the risk
After you have saved and educated yourself the only thing you have left to do is to take the risk. All investing is risky. There are no guarantees. The key is doing the proper analysis to make sure the outcome is in your favor. Think for yourself. I always say I learn best through experience. If you need to get a job in real estate or stock investing to learn the in and outs without your money being at risk then go for it. But you'll still have to take your own risk at some point.
The sooner you get started the better off you'll be. Remember building wealth takes time. Everyone's journey is different. You may be educated but don't have the money. Or maybe you have the money and you don't have much knowledge. Maybe you have the money and the knowledge, but you are still skeptical of risking your hard earned money. It doesn't matter who you are all three are necessary to move to the next level.
I love finances but I love growth much more. My purpose in life is to help other women see their worth, gain clarity, and most importantly build wealth. I'm proud to share this new journey with many.
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