It's not easy to create wealth, because it always entails sacrifice and hard work. You must plan out activities, work like a horse, scrimp and save and take care not to lose it after you amass it.
There are various types of wealth, and each type is important to attain complete happiness and fulfilment: Inner wealth comes from having peace of mind and high self-respect. Physical wealth is good health - which is so basic before you can enjoy any other type of wealth. You need your health to enable you to enjoy or even work for the other classifications of wealth. Family and Social wealth is equivalent to happiness in relationships. Career wealth is being able to attain your professional goals and be satisfied with the work you put into every step that lead you to your goal. And of course, Economic wealth, which is the lifeblood of existence for the most number of people. Admit it or not, no individual can survive without economic wealth - because without it, the other types of wealth are hard to attain.
Since most people measure wealth financially, it seems to be the type of wealth most people prefer to acquire, rather than the other types. So how does one make his own economic wealth work on its own - so that it multiplies in value even if the owner just sits down on his couch and watch television? Here are some ways:
Invest in real estate / property. Real estate and all improvements on your purchased property have a way of quadrupling in value as time goes by. A square footage of land you invested in the 60's may have increased in value not only ten times over the past 50 years. The reason? Because the more people there are inhabiting a space, then the higher the demand for it. The more people buy and keep over the decades, the less available and purchasable land for the younger generation to buy. Land is not something you can multiply or re-grow. It's a prime commodity that cannot be manufactured, unlike buildings. And if you don't have land, you won't have property to build your house on.
Property, like buildings and houses, however are man-made, but their value can also increase over time, especially if you additionally invest in the following:
Updating the design and improving the construction and materials - makes the property more current and marketable. Old, beat-up buildings with poor maintenance decrease in value, and may even eventually become eyesores.
Keep your building clean and technologically advanced - investing in elevators, especially for buildings higher than 3 storey's greatly increases the value of the property. Try adding internet-friendly systems, like wifi access, and a modern alarm/security/fire prevention system makes a house really attractive to a potential buyer who will be shelling out major bucks. You can resell your house for ten times the value it took to build it.
Install new and modern appliances or update and keep all utilities well-maintained and pay off mortgages and real estate taxes
Buying stocks or shares in successful corporations. There are a lot of corporations that are doing really well financially, but they are offering shares of the company to individuals to buffer tax, or to simply keep losses at a minimum. In short, buying shares is like buying a part of a corporation - when they succeed in business, then so do you. When they earn a thousand fold, then so do you.
The tricky thing is, you must know which corporations to invest in, and when to bail out. Bailing out means re-selling stocks to other people (or to an investment house) when you need to cash in your earnings, or when you feel that the market is not doing great, and that you think you can lessen losses by disposing of your stocks.
But not all stocks that are losing continue to lose over time - some of them regain momentum and eventually multiply in value over time. Word of caution though - buying stocks is not for the faint-hearted. You must keep abreast of trends and always be aware of what's going on in the economy. Invest money which you can afford to lose - because the stock market is similar to gambling. Easy come, easy go. Don't put all your wealth into this basket.
Put up your own business. If you're the type who wants to feel pride for your work, then invest your wealth in a good business. Putting up your own small business entails careful planning and constant hard work. Start a business in an industry where you are most skilled or interested in, it pays to know all the tricks of the trade.
When you multiply your wealth by putting up your business, you feel an extraordinary amount of self-satisfaction which no real estate sale or stock market trading can give. It's the fulfilment of working hard to acquire (more of your) wealth.
Invest in jewellery, antiques. Much like property, jewellery increases in value over time.. and antiques are of no value, well unless they're old. The problem with investing in these things is that they can easily get stolen, and are less marketable since there is always an abundance of these things. Antiques, on the other hand, are not subject to the ravages of nature, time and fire.
Rather than just keep all you wealth in a safe or keep it buried underground, it is a wise decision to re-invest it and make your own wealth multiply itself - for your convenience, and for the sake of all your future grandchildren.
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Michael Griffiths is the CEO and Founder of Secrets Of A Super Life, providing individuals with personal development strategies to increase their purpose, passion, happiness and life fulfilment. For your free life success pack please visit http://www.mysuperlifetoday.com
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