How average people accumulate above- average wealth.

May 27, 2008 | By admin In How To Get RiCh |

It’s not rocket science. Millions of ordinary people have become millionares through thier own initiative - with no help from wealthy family members or lucky lottery numbers.

A job is one way to earn money but, as I mentioned earlier, a job has limits.

You can only earn so much per hour. You can only work so many hours in a day. You can’t really be wealthy if you have to be at work all day.

So, we need another source of income to replace our job income if we’re going to be wealthy. There are two easy source for more money in our lives:

#1: We can have our money working for us.

When our money is in a bank savings account, in investment real estate, or in mutual funds, our money is working for us 24 hours a day, even while we’re sleeping. If we have enough money invested, our monthly interest and dividends can macth or exceed our normal job income. That means that we can retire from our job and do what we want.

Sound great, but what’s the catch?

Most of us will ask:

Where will i get all this money to put into investments?

It’s not that hard. I’ll show you how in the next couple of post of this series. You can easily accumulate an investment nest egg from:

    * A part-time job
    * A part-time business
    * Saving a litle bit-out of every paycheck
    * Having your income tax preparer arrange your finances so that you pay less in taxes
    * Reducing your personal expenses

Now, all these methods look small but, beleive me, over time the can help you accumulate all the investment money you need to retire wealthy

This is great news! This means that most people can become wealthy by making only a slight change in their present life.

Before I show you how this will work, there is yet another source of more money in our lives.

#2: We can have other people working for us.

Think about the owner of the company you work for. I bet this person makes more money than any of the employees. If the owner earns five times more money than the average employee does, I don’t think the owner works five times more hours, do you?

The business owner has only 24 hours in a day just like you and me. However, business owners understand the magic word: “leverage“. They leverage their time and efforts through other people. They earn a litle bit from every employee’s efforts. And those little bits really add up.

So you’re thinking, ” I’m not ready to be a business owner. I don’t know enough about business or the risk.”

Don’t worry, You don’t have to own a business with lots of employees and equipment to use the principle of leverage. I’ll show you how to use leverage later on in this post. But for now, all you have to remember is that you can leverage your time and income through other people.

Do you have a to have a business?

No. It’s just another way to financial wealth. Remember what I said at the beginning of this post? I said that there are many roads to financial wealth. You don’t have to follow any particular road. I’ll just point out several different roads and then it’s up to you to choose you route.

To summarize, there are three ways you can have money coming to you each month:

  1. Work a job - get a check
  2. Have your money work for you
  3. Have other people work for you

Almost everyone has mastered how to get a job and get a check. But that’s not what we want. We want time freedom to do what we want and to have enough money to do what we want. A job won’t get us there.

So, we must either have our money work for us, or have other people work for us.

Now let’s get on with accumulating some wealth. Let’s talk about some ways to get our money working for us.

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    • 1 Comment so far

    1. youkome.com on June 4th, 2008

      How average people accumulate above- average wealth. | How To Get RiCh | How To Make Passive Income…

      It’s not rocket science. Millions of ordinary people have become millionares through thier own initiative - with no help from wealthy family members or lucky lottery numbers….

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