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Are You Wealth Independent Or Wealth Dependent?

by: successu7
Total views: 44 | Word Count: 556

There are so many actions which you can take today, which will enable you to live a financially abundant future or not. Simple actions can make you wealthy now and in the long term.

In this article, you will find:
* What Is Real Wealth?
* Passive Wealth And Active Wealth
* Investment Strategies To Become Wealthy

* What Is Real Wealth?
Money is a symbol, but for many people, money = rich. Rich is loads of money, but wealth is totally different. You see, winning the lottery makes you rich, but it does not in no way make you wealthy!

Knowing the principles of wealth will always serve you. How is it that men such as Donald Trump can come to a point near to bankruptcy and still turn richer than before, and how others can actually go from poverty, no home, and no money, into some of the richest people on Earth? No doubt mindset has a big part to play, but it is also the principles as well.

The wealth principles are same as they always been. So knowing things like compound interest will serve you in relationships as well as with money. Knowing that more harmonious your interactions are with others, will allow you to have more harmony in the world; likewise good and regular investment into savings or other wealth building strategies and techniques will make you wealthy.

* Passive Wealth And Active Wealth
There are 2 types of wealth building principle. One is passive wealth and active wealth. One requires money, while the other requires time. So we have a general formula:

Passive Wealth = Money
Active Wealth = Time

Passive wealth could be thought of as a bank account that pays high interest. You add the money, and passively it grows. You can look back in 10 years and find that constant addition made you a nice growing wealth.

Active wealth can be thought of as something that needs your attention. More attention, the more likely the interest you receive. Yes a high yielding savings account needs your attention when adding money, however it is very small time needed. Your interest you receive is likewise small. In a home business, you need to add time, and effort, this investment ends up yielding people around 30% a year (at least in direct mail, I have found).

* Investment Strategies To Become Wealthy
You need to have a balance of both. Having passive wealth strategies is great; the only problem is that you need money. Everyone starts from nothing and has to grow there own personal wealth. The majority leaves the passive wealth strategy for decades, and likewise wealth is a foreign term!

When you utilize such an old wealth strategy as save 10% and get wealthy, you get exactly that, you get wealthy. When you have a business, and work to make it a success, you get wealthy.

There are so many strategies and tactics. There are real estate, high yielding savings accounts in Switzerland, and MLM. There are HYIP programs that say they will make you wealthy, and of course the stock exchange. They all need to be known by you, you need to create a strategy based on your needs. And remember to always add to them.

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