When you think about savings we sometimes forget that we are suppose to be thinking about investing just as much. Investing for wealth should be the goal of every person born especially in the United States because you get the freedom to do a lot of things. While a lot of investing is not taught in basic school, it is something you have to do to be successful in life; so you might as well learn how to. In the age we live in today, money comes and goes very fast. As it says in the scriptures, the fool and his money quickly depart.
So how do you begin investing for wealth? Ive devised a 4-step system to doing this; Ill share the first two steps in this article and the next two in a later article.
The first step is to find out what wealth is:
You should define what wealth is to you; to some people wealth is 25k per year, to others it is 50k, while to some elite 10 million dollars. You have to have a definitive answer to what wealth means to you. If you can see it clearly you can go out and get your goal. You can define it yourself; or you can talk to wealthy people who can help you define what wealth is. There are different definitions out there so do not get discouraged if your definition of wealth is different than what you hear in the mainstream. Get your own classification of what wealth is to you and your family.
The second step is to start a business or get a High Paying job:
Start a business or get a high paying job is the second step in this equation. Why do this? It is because starting a business has many benefits that a job does not; and these benefits can help you get wealthy. Obviously you have more control over starting a business than getting a high paid job. If you have an outrageous skill apply for a few nice paying jobs out there that wont kill all of your valuable time. When I say a high paying job, Im talking about starting salary of at least $250,000 per year. The reason is because you are going to be taxed at 50cents on the dollar. With a business you have better tax breaks and your potential does not stop at your salary level; you can make as much or as little as you like.
These are the first two steps in investing for wealth today, keep your eye out for part two where we finish the last two steps for investing for wealth. The bible says a good man leaves an inheritance not just for his sons, but for his sons, sons. This is why this topic is important and should be taken serious by all people.