Saturday, October 6, 2012

The Most Effective Way to Wealth

"It is true that money cannot buy happiness but it does help you to enjoy what the world has to offer."

With wealth many things are made possible. Fine home furnishings, travel, nutritious food, jewelry, charity and gratification.

Three big mistakes un-wealthy people make is 1) spending all of their income without saving any for future needs, 2) taking advice from those not qualified or experienced, and 3) expecting government or others to support them with handouts.

Alternatively, the wealthy have decided a part of all they earn is theirs to keep. Or stated another way, the proven path to financial success is to make sure you live on less than you earn.

Keep a long term perspective about wealth and focus on net worth growth versus just what is coming in and going out in the short term.

(In case you didn't know, the term net worth refers to the value of all assets minus the value of all liabilities.)

Do you have a plan to keep a part of all you earn? Have you implemented your plan? Are you on the road to wealth?


Post inspired by the Ultimate Success Program and Og Mandino's University of Success.


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