Wealth Building

How do you create and build wealth?

You're poor, uneducated, come from a broken home? 

 Nobody cares. And for your information. You determine your own fate. I know it's hard to believe or even comprehend when you feel like you come from Nothing, have nothing, and everyone saying you'll amount to nothing. 

Nothing is further from the truth. If it is to be, it is up to me!!

And what you do have is is Faith, Hope, and Desire! And these are the most important traits.

Despite all the negativity America is the Land of Opportunity, that's why all the world wants to come here just for the chance to better their lives.  Yet, those of us born in the USA will complain that things aren't fair and that the little guy has no chance.

Balderdash!!!

Start filling you head with ideas and possibility. Read books like Think and Grow Rich, The Millionaire Next Door, and the Bible with help on motivation, success, and wealth building.  Take your desire and back it up with hard work and you will be unstoppable.

Start by paying yourself first! But how with all my monthly bills it's impossible to save. Well, not exactly.

 I understand and have been there but there is a better way.

As CEO of You Incorporated, you are directly responsible for your financial well being.  And the first step  is to set aside whatever percentage you can on a monthly basis going directly into your savings and investment account.  $10, $50, or a $100 per month will quickly compound and you'll see your wealth grow. Wealth provides financial freedom which allows you to make choices that are not solely based on money. 

The sooner you can have your hard earned dollars working for you instead of you just working for them the sooner you can experience a certain financial freedom and empowerment.  And it is very liberating.  You are in control not the job or the debt. 

Buy assets. Things that go up in value.  Real estate, stocks, and other investments.  Where we get in trouble is when we invest with a short time horizon and get stuck having to sell at the wrong time.  Even if you bought at the top of the housing or stock market if you had a 10 or 20 year time horizon for the most part you did pretty well. 

 Avoid expenses. A powerful wealth building move is to avoid car payments. You can buy a nice used car for half the amount that will last a long time, keep its good looks, and eliminate the perpetual car payment that seems to infect everyone.  Think of all those extra dollars going directly into you pocket and accounts. The $500/mo car payment that never ends is a quick way to the poor house. 

Do we really need to buy the latest gadget that comes out every year like a $1000 phone that is virtually no different from the model three years ago. I bought a plasma 40" TV with an employee discount 20 years ago for 2200 bucks today you can a 70" TV for $500.  By the way, I still have the Panasonic plasma and it is fantastic. Which brings me to another important concept. 

Take care of your belongings.  We seem to live in a disposable world. When you spend your hard money or something whether it's a car, lawn mower, clothes, household items or tools you'll find with a little TLC that your things will last and you won't have to keep replacing. 

And as with anything you desire to achieve, never give up.  Keep pushing forward, use any setback as just a learning tool propelling you higher up the ladder of success. 

Ask God for help and fill yourself with gratitude, humility, and peace.

And when you do achieve your tremendous success don't forget to help others on their journey,

 

With Love,

Coach K