How to Become Wealthy
Jan 19th, 2007 by Jennifer Lynn
Acquiring Wealth
I dug up a wonderfully informative but compact two-page article about beginner wealth from young Joshua Kennon over at About.com. I regularly devour anything on financing I can get my little paws on, and this was a delectable read.
To learn how to accumulate wealth by shifting mentality and through careful strategic maneuvers, take a peek at Josh’s How to Become Wealthy: Investing for Beginners guide. It may permanently change your outlook on your finances.
Some interesting quotes;
“When you realize that every morning your assets wake up and have the same potential to work as you do, you unlock a powerful key in your life. Each dollar you save is like an employee. Over the course of time, the goal is to make your employees work hard, and eventually, they will make enough money to hire more workers (cash).”
“The biggest mistake most people make is that they think they have to start with an entire Napoleon-like army … What these people don’t realize is that entire armies are built one soldier at a time; so too is their financial arsenal.”
“A friend of mine once knew a woman who worked as a dishwasher and made her purses out of used liquid detergent bottles. This woman invested and saved everything she had despite it never being more than a few dollars at a time. Now, her portfolio is worth millions upon millions of dollars, all of which was built upon small investments.”
“If you have any source of income, it is possible for you to start building wealth today.”
This sort of knowledge should be mandatory education for every young adult. I never even seriously considered my personal finances until late last year, a few months before I started blogging. Perhaps if everyone was better equipped with financial awareness, there wouldn’t be so many broke-asses like me running around. * cough *
The key to wealth is not as elusive as one might imagine. Begin building your own personal fortune today by wisely utilizing your (seemingly limited) income stream.
~†~ Baby Steps are Key ~†~
Take action now, a dollar at a time, and watch your dreams be brought to full fruition.
=^..^=
(imported comment from Typepad platform)
On February 10, 2007 at 09:38 PM, Stever Robbins writes;
“One piece of advice: do something you love while you work to become wealthy. Rather than sacrificing what’s meaningful in your life in the hopes you’ll someday have enough to retire and *then* do what you want, reverse it. Figure out what you want, and then put your energy into finding a way to make money doing that.
If the money doesn’t come, you’ve still loved your life. If the money does come, then you’ll be loving life and rich.
But too many people put the money first, and hit their 40s, 50s, or 60s rich, but having wasted decades. I hear from many, many 20-somethings, “I’ll work at for X year because the money’s good. Then I’ll do what I love.”
Start with what you love, live frugally if need be, and invest or build a business around that. But for goodness’ sake, don’t wait until you’re 50 to get a life.”
I don’t you find that strange how peoples perspective of there lives is just to earn as much money as they can and concentrate only on that task.
Myself, I think am more like you describe and prefer first to be happy and after that if i become successful then that great. Nice Blog hope to read some more of your stuff…
I totally agree with you. my goal is to make $36,000/yr in passive income. while i’ll probably never have enough money to put in a cd at 6% in one shot, every investment i make will add to that bottom line number. someday, i’ll make it!