De-Mystifying Wealth

If you want to achieve wealth, then follow that old saying that "You have to spend money to make money." Use wealth to build more wealth.

So if you want to make money online, don't be afraid to spend money. Spend it on things that can improve your education and 0make you more money. It doesn't hurt to invest in yourself.

By LaToya Roomes

For most people the concept of achieving wealth is foreign. We look at the wealthy with awe and curiosity, sometimes with envy. We view wealth as something unattainable, something that happens to the lucky or the extremely intelligent.

We, sometimes, even try to denigrate wealth. How many times have you heard:

• They’re filthy rich.
  
• I'd rather be happy than be rich.
  
• Money is the root of all EVIL.
  
• More money, More problems!

We all know that having a ton of money is never the issue, but what we do with money is.

The truth is that we all want to attain wealth. And we all can attain wealth. But not all of us will. Because it requires that you think outside the box. It requires that you treat your money differently than the way people typically do.

How do people typically treat money? We spend the entirety of our paycheck on nothing that will make us more money. In order to get more money, we have to wait on the next paycheck. And we usually have to trade someone our time for their money to ensure that the next paycheck does come in.

The reality is: Wealth Building is Not a Mystery. It is a formula.

A + B = C

In other words, choosing to do ‘A’ and ‘B’, will get you ‘C’.
So if ‘C’ is Wealth, then what’s ‘A’ & ‘B’? Good Question!

But before we talk about what ‘A’ & ‘B’ are, let’s clarify some basic ideas to make sure that we are on the same page.

To build wealth, you need some money. And most likely, it is already coming to you regularly in the form of income. In order to achieve wealth, we must pay close attention with what we do with that income. We must pay close attention to our expenses. Because the money that we spend on expenses will either build wealth (assets) or build debt (liabilities).

Wealth is the experience of having significantly more assets than liabilities. And the formula for building wealth requires that you choose to build more assets than liabilities.

Now, we all have mandatory expenses that we have to spend a portion of our money on. After those are paid, we are faced with a choice of what to do with the rest.

• We can spend it,
  
• We can build debt with it, or
  
• We can build wealth with it.

The Formula for Wealth

We all use money as a bartering tool. To barter means to trade. However, there is a fundamental difference between the way the non-wealthy and the way the wealthy use this tool.

The non-wealthy trade their time for money. And then they trade their money for things. Unfortunately, these things cannot be traded for any money.

The wealthy trade their time for money. And then they trade their money for an asset. And then, trade the asset for even more money which can buy more assets.

Notice the difference in the two cycles. Actually, one is not a cycle at all. It stops dead in its tracks, when the money is spent. However, the latter is a cycle. This cycle builds wealth on top of wealth.

What the Wealthy Buy

The type of assets that the wealthy buy come in the form of investments. An investment is something acquired for future financial return or benefit.

These investments can be:

• Stocks
  
• Bonds
  
• Pantents
  
• Education
  
• Real Estate
  
• Retirement Plan

Real Estate is a key investment to have. Investing in real estate alone has made many millionaires.

The wealthy also invest in businesses. They invest money into an entity that will pay them. If the business model is a good one, this business will continue to pay them a residual income long after the initial start up efforts are in place. Then they will no longer have to trade time for money. Money will come freely, while you spend your time as you want.

There are many business opportunities available. Choosing one largely depends on the amount of money you have available. Some require as little as $50 a month, such as the one that I own. In comparison, most franchises require an average of $85,000 to start.

If a great business model is chosen, residual money that you earn (for zero amount of your time) can be used to buy even more assets, which will make you WEALTHY.

Where do you begin?

The very first thing to do is to choose to be wealthy. Today! In order to build wealth, you FIRST have to treat your money the way the wealthy do. You have to set an intention to Accept Wealth Now.

The wealthy minimize as much of their mandatory expenses as possible so that they can maximize the amount they have available to invest. With an excess of only $50 a month, you can start a business that will create a secondary income stream. This profit from your business can be reinvested in assets that will build you wealth.

If you want to learn about the affordable business that I started, visit http://www.myowncandlebiz.com. Read my personal bio, and the journey that I’ve undertaken in order to build a strong financial foundation for myself. Learn about the business model and how it can pay you from days to weeks to months to years after you’ve put in the initial efforts.

So remember, take action and accept wealth today!

Accept Wealth Team

http://www.acceptwealth.com

LaToya Roomes is a multiple business owner and a self-declared wealth builder. She coaches and educate business owners how to market themselves online using the internet. Read her personal bio at http://www.acceptwealth.com.