Creating wealth quickly and feeling the freedom that comes from abundance is probably something that you think of often. The desire to have all your bills paid, money to do what you desire as well as know that your financial future is secure is something that we all want. We want things and we want to give the people that we love a better life and a bright future. We want to leave something behind to be remembered by whether it be a charity in our name or children that have grown up to be strong and wise. We all want a better life for ourselves and the ones we love.
The challenge with rapid wealth creation is often the time involved. Our society has become accustomed to receiving everything very quickly. We have fast food, express lanes on our highways and even in stores. We are all so busy and demanding that we sometimes lack the patience to wait six months or a year for something that we truly desire. When it comes to creating wealth, you might have to keep this in mind. When you become frustrated and tired and just want to give up and go back to watching TV on the couch, remember these words. Anything worth having is worth working for and waiting for.
In order to create wealth as quickly as possible you should focus on eliminating debt and expenses as soon as possible. Paying off the smallest debt first and then taking that money budgeted for that debt and using it to pay off the next debt often works best. Interest payments accumulated over a year can quickly add up. If you take a look at this and calculate how much you are paying in interest, you may be shocked. That is your money that you’re giving away every year to make someone else rich. Hold onto that money. There might be something that you can do with it someday.
Time is an asset that we all have whether we want to admit it or not. Taking your spare time that is normally spent relaxing and enjoying life and turn it into money. Start a small business based around a hobby or passion that you have. By leveraging your knowledge, your interest and your time, you can turn this asset into money that you can invest in several different ways.
Let’s say that you enjoy old cars. You may have tinkered with cars in the past or you dream about restoring old cars. It could be something completely different such as a knack for gardening or even a fondness for keeping your yard looking tidy. No matter what you enjoy, you can turn it into either a service business, a product business or, if you are able to write, a book that can help others to enjoy your passion or understand the specialized knowledge that you posses. If you’re thinking that this will only turn your hobby into a job then think again. Can you imagine doing something that you really love and earning a profit from doing it? If you fear that this small business will just be another thing that sucks all your freedom and leisure time out of your life, don’t worry about that. There is a solution to that problem.
While anybody can start a small business and make it somewhat profitable if they are talented at the business that they are focused on, growing a business is often another story. Being able to grow your business so it provides a substantial income requires diligence and strength. You will be tempted to spend the money that you make. A wise investor and businessman invests his profits back into his business. Investing in advertising and hiring some part time help, at first, will help you to quickly scale your business into a thriving monster in no time. Soon you’ll need more help and employees as your business grows exponentially. As your business grows you can either bring on a partner or hire a manager to take care of running the business when you wish to enjoy life or live that life of financial freedom that you dream of.
In addition to expanding or growing your business, it is wise to invest in other revenue generating vehicles. You can either start another business or invest some of your profits into stocks, bonds, precious metals such as gold or any other investment that you are familiar with and feel comfortable with. Plan your investments to work together with your financial goals. Pick both long term and short term investments that will give you the flexibility to reap rewards quickly as well as those investments that offer tax benefits and long term earning potential for later on in life.
These simple steps of reducing your debt and expenses, leveraging your time and talents and growing a small business and investing the profits can turn your life around rather quickly. You may doubt that you can do this but the only thing holding you fast to that couch every night is a lack of faith in yourself. If you believe that you can do it and you have a vision for your financial future which is bright then you can and will generate wealth quickly. You deserve the best in life and so do those dear to you. Create your own financial future and become the one that takes action starting today.
Author:
Alex Block
About the Author
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