Make Money the Way the Super Rich Do!

What is it about the super rich that tends to differ from the majority of the rest of us? Are they born lucky, do they have a natural affinity for money or is there some other secret behind their impressive financial track records?

Personally, I believe that nearly anyone can attain wealth in their life, yet it requires an adjustment in one's thinking in order to achieve.

The following is a list of suggestions that one may follow in order to make money like the rich do:

(a) No matter how you earn a living it will never be possible for you to earn vast sums enjoyably, unless you have a true passion for your line of work. An old saying states 'Do what you love and the money shall follow.'

(b) A great way to learn about secrets of the super rich is to read their books. People such as Donald Trump and Robert Kiyosaki amongst others have published clear and easy to read titles that are essential reading for serious wealth builders. Both these men stress the importance of sound financial advice and avoiding the well-worn social cliches concerning the making of a 'fast buck'.

(c) A great book that I read some time ago is titled 'The Richest Man in Babylon' by Og Mandino. This work made a lasting impression on me as it is written in a very simple yet clear style. One of the secrets of wealth building that is contained within the pages, and that many wealthy people have followed over many years is quite fundamental. It stresses that you should save at least 10% of every dollar that you earn and set it to one side. This money is only to be used to invest and grow additional income and shouldn't be touched for other purposes if possible.

(d) Many financial gurus advise that you should only purchase investments if their value will appreciate and actually add to your income. The traditional purchase of the family home, which was always preached as being the best asset that one could own can actually be a liability if it doesn't increase in value sufficiently.

(e) Real Estate, when one purchases and sells in key locales is one sure way that many people have made large sums of money from. It pays to study the market carefully and to see where others have profited, and perhaps follow their lead if the market is healthy. It rarely pays to buy during a boom time as the prices will be reaching a peak and property values often decrease after the rush.

(f) Stocks and shares are also a popular way to increase one's finances yet this arena is seen as being a specialist option and requires a certain expertise. People such as Warren Buffet (U.S.A.) who is widely considered to be the most successful stock market investor of all time, teaches a wise course that one should preferably purchase shares in strong companies and hold on to them, possibly for ever, in order to earn a consistent revenue. Warren Buffet was renowned for buying shares from blue chip companies and sitting on them.

(g) One well-known secret of the super rich is that they rarely invest their money in bank accounts as the overall interest rates are not terribly attractive. When investing one should veer towards the compound interest option, where money grows at a faster rate due to interest being paid on the accruing interest and not just the principle sum. Many financial experts have clearly drawn graphs and tables which illustrate the staggering profits that can be made this way over a number of years.

(h) The super wealthy often seem to have a more positive mind-set concerning money and finances in general. They expect to be successful and nurture an expectation in themselves that wealth shall flow their way. And it very often does too!

(i) Another plan that many of the wealthiest adhere to is the consultation of the best experts in regards to making any types of monetary investments. The best information will lead to the best returns and an ego-based effort to accrue finances is very rarely a winning one. Learn from the best in the business and you shall be the best! Sound advice.

To make money the way the super rich do, one has to have a real desire to attain this status of wealth. It is very rarely by chance that the most wealthy have got to where they have. Good planning, smart investment strategies and sensible spending often contribute to healthy finances. And a final point about many of the wealthiest is that they often don't buy everything brand new at retail prices. So many of the rich are renowned bargain hunters who know how to make clever purchases of the finest items available. There is a myth that the super rich throw their money around and pay any amount for whatever they desire, yet if they did this then their bank accounts would soon diminish rapidly.

Live honestly, spend wisely and you shall have riches beyond your wildest dreams.

David Braybrooke http://makebigmoney-fatherspirit.blogspot.com