Focus on the 6 Key Wealth Areas!

April 3, 2018 | Filed under: Financial

In my teaching across the USA, Canada, UK, Singapore and Australia, I always start with the foundation of financial success, the WEALTH WHEEL. It is a simple concept, but it keeps us focused and on track. It does not matter if you start with real estate, a job, stocks or business, the wealth wheel concepts keeps us on the right path. Take a look below, to envision the concept, and then we will discuss a few of the elements.

There are 6 basic steps to the wealth wheel:

Education and Perspective: Napoleon Hill said it well. Specialized Knowledge is the key to wealth. When you learn you earn. In addition to strategies, most wealthy people have a wealth attitude, or a series of beliefs that support them. Beliefs are key to wealth.

Cash Flow. Is King! You must have multiple sources of income. A job. Real estate income. Stock income and even a small business.

Growth. Long term wealth. Appreciation, stock growth and strong rates of return make for solid growth.

Big Hits. Nothing like a win fall. Big rewards for hard work.

Leverage. All the rich use it. The power of controlling a major asset for only a few dollars (real estate, options, and time).

Tax and Asset Protection. One third to one half your wealth will come from tax planning and asset protection.

“All men by nature desire knowledge”—Aristotle

“Life is Tough, But it’s Tougher when you are Stupid“—John Wayne

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