Step by Step to Being Wealthy – Make Money Online
Creating wealth is a step by step process. It is like start growing additional fruit bearing trees. All it needs is planting simple seeds. Next it becomes small plant. After that it becomes a tree. Then it begins to flower, and soon it has small fruits. And, finally, you gets to enjoy the fruits when they’re ripe.
One of the goals to become wealthy is to achieve financial freedom. It means your total streams of income or investment returns are more than your living expenses.
When we are financially free, what we gain is time. We have an option of whether we wish to work or not.
The beauty is that, when we choose to work after being financially free, we work for passion and it is not about money. Without the constraints of needing money, do you think we can work better? Do you think we can make even more money when we are so passionate about our work?
But, what are the steps?
1) Invest and reinvest your money. You work hard for your money, surely you wants your money to work for you. A good investment always go up in value regardless of economy upturn or downturn. The returns must be more than the inflation rate. A minimum of 6.25 percent compounded return per year is good. 10 percent return per year is even better. Do not forget to keep reinvesting the original capital and returns so that it snowballs.
2) Finding the money to invest. The common reply is that I have no money to invest, how to find money to invest? Well, you have 2 choices, you can choose one or both. a) Delay Gratitude (for a purpose to achieve financial freedom) Look around your house, see what are the things you do not need. Look at your expenses, see what at the thing not urgent, Look at the urgent needs, can you delay for a few days. b) Multiple sources of income. Investment returns aside, explore your capabilities, get another physical job. Or making money online.
