When we talk about wealth, it is always appropriate to begin with inner wealth as a strong footing to build and accumulate wealth. However, it is very sad to say this critical and fundamental principle is always ignored even by those who claimed to be so called wealth grandmasters.
Then the million dollars' question is what is meant by "inner wealth" in this context. My definition is more incline to attain inner peace, joy and harmony where you can stay focus on the bigger picture than just solely focus on deals with money issues. Here, this approach is more inclined to a holistic and systematic manner of attaining wealth so that the individual can live his life to its fullest, while achieving his/her pre-set goals. This approach is also not the normal method of comparing and competing with others to achieve his/her goals, as commonly seen in the city environment, or so called rat race competition. He / she choses to leverage on other's resources to achieve their mutual goals. In other words, they chose to share and pool their own resources for their mutual objectives so as to bring enhancement and betterment to the people - in a bigger picture. Here, they cooperate to maximise use of the resources for the masses of the population, rather than individual goals.
Hence, healthy living, in term of physical, mental and spiritual health is always its underlying principle to address this wealth. They allocated some funds for nurturing and building up a strong foundation in these areas regularly or on daily basis by reading healthy stuff which enter into every major components of their minds and souls. As such, they are always full of energy to undertake such noble venture with confidence and passion without any doubt.
No doubt they are constantly exercising their efforts to attain their goals. However, they remain content with whatever they achieved. They know from their hearts that by doing so, they are able to live to their fullest by stretching themselves to the maximum, but without feeling much pain. Contradictory to common misconception, they enjoy every moment of their walk as they have their missions and passions to press on toward their individual pre-set destination. Now, you can see the great difference between these two approaches.
In this connection, they stay much healthier than the former. Indirectly, they keep their medical bills at bay despite working for long hours. On the other hand, their productivity is very much higher as a result of the good and healthy stuff they feed on in a regular basis. They are less disrupted and distracted by those negative incidents. Hence they are very more focused on the big picture rather than indulge in those petty issues.
1.0 Real Estate
Having such mindset and approach, they are also able to see much clearer on how to allocate their funds to generate much higher yields from their investment in real estate besides having to curb the inflation rate which makes their wealth deteriorate. This provides passive income without requiring much labour. With rental and appreciation of their real estate, the gain they made through the investment will put them in a much better position than the return from fixed deposit in the bank. However, you may argue that it is very much depend on the location of their real estate investment. At the same time, they usually will do their homework well prior to such a heavy investment. In short, such a wise move will reduce their risks of getting their investment burned. The beauty of this type of investment is that it is always has some residue value compared to shares.
2.0 Investing
To double your wealth, another avenue which you can look into is to invest in the potentially high-performing sectors shares which you believe can give a much higher yield in term of probability such as commodities, bonds or quoted shares other than real estate. You must be aware that the latter is less liquid and not easy to turn into hard cash, compare to the former, whenever you need it. As such, you need to formulate certain percentage of your wealth which is more suitable to your circumstances and needs. Hence, this will not only reduce your risk exposure, but also enhance your gain potential.
3.0 Starting a Business
The old saying is that it takes more money to generate more money. To accelerate extra cash you may chose to venture into business, it makes more sensible opportunity for you to make unlimited wealth when compared to salary earner. However, you need certain skills to make your business venture profitable and able to grow by tapping into its own niche market depending on your product or service you are involved in.
Thanks to the internet world, which offers more viable business opportunity, which was not available in the past. For instance eBay or Web site or Blog. Now it is much easier to monetize your brilliant thoughts via a Web site or blog. Advertisers do embrace blogs as another way to advertise to target their own niche markets. Programs like Google Adsense also place relevant advertisements on your site in return for a cut of the proceeds. Here, you can write about your hobbies just like our http://teaartblog.blogspot.com, scribble reviews occasionally like what we have done on our blog at http://liftyouup.blogspot.com or any other works if you write with authority. Certain topics pay much better than others. To get a rough sense of the relative value of your topic, you may use the "View Bids" tool at Searchmarketing.Yahoo.com.
Of course, you don't need your own website to generate extra money. But you can also offer your service offline such as offering tuition services or any other service which you are good at.
4.0 To trim down your spending especially those which does not offer you any added value
To accelerate your wealth, you have to use your money wisely. Reviewing your major expenditures regularly is another wise move. In this connection, you will be surprised to see how you can reduce them substantially without any compromise to your lifestyle. Such a good example not only cuts down unnecessary expenditures, but also cultivates good habit of proper budgeting and planning. You may also make use of to do list to assist your work in a more organised and efficient manner. Thus saving you money and time. More over you may use the time saved for other healthy activities which will boost your income further. Killing two birds with one stone.
Thank for your time and hope that the above article gives you a better yield than before.
Your Chief Servant,
James Oh
Founder and Group CEO
Founder and Group CEO
Skype me at james.oh18
I like your blog. You have made description in so easy manner for wealth management. I understand it in good manner.
ReplyDeleteThanks for dropping by and your feedback. I am glad that you find this article easy to understand.
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