8 Secrets of WEALTH CREATION

1 ADD VALUE

If you have invested in a business and in order for you to make your products or services more valuable, you have to work harder, work smarter, work longer. This is to ensure that your business will start creating wealth for you faster.

2 CONTRARIAN THINKING

A contrarian trading strategy is based on the assumption of negative serial correlation of prices: a predictable pattern such that if prices have gone up, they must come down eventually, and vice versa. This view of contrarians focuses on the important role of fads: rather than acting independently, investors exhibit herd-like behavior, following waves of mass optimism and pessimism, whereas a contrarian thinker /investor goes against the masses.

3 LET YOUR MONEY WORK FOR YOU

Buy things that CAN make money like mutual funds, stocks, bonds, properties and businesses. Buy them at the right time. You would want to buy into investments after the masses have sold, then sell when the bubble develops and before the bubble burst. You can buy the shares of excellent companies with good fundamentals during a recession or a meltdown. Or if you think that recent change of top management will turn around a troubled company.

4 LIFE LONG LEARNING

Take advantage of the traffic jam, put your travelling time into good use, listen to all the motivating audio programmes like the “Rich Dad Poor Dad” series. Fill your mind with “can do” daily. Read books that will put you in a positive mood. Just think, a simple idea from all these positive “vehicles” might just make you a millionaire.

5 LOVE YOUR JOB

If you have to work to earn a living, find a job that you love and enjoy. “When you start doing what you really love to do, you’ll never work another day in your life”

said BRIAN TRACY, author of the book called “The 21 Success Secrets of Self-Made Millionaire”. Here while you are doing what you love and earning your salary, put a portion of which into your investment portfolio to create wealth.

6. IDENTIFY WITH SUCCESSFUL PEOPLE

“Birds of a feather flock together”, this is a saying to determine what type of person you are in relations to the type of people you mix around with. About 90% of your success will be determined by the people with whom you habitually identify and pass the time. Your success and happiness in life is going to be determined by the quality of the relationships that you develop in your personal and your business activities. Find a few people who can mentor you, who can keep you focused and motivated.

7 ACTIVATE THE LAW OF ATTRACTION

Thinking positive is the key… Feed your mind with what you want, not what you do not want. Magnetise you mind to attract on what you want to do. Positive mind enhances the effect of belief and once you believe, you will be successful in all your endeavours.

8 SET YOUR LONG TERM GOAL

Write down your goal, what do you want to achieve says in 10, 20 or 30 years then work towards achieving it. Long term goals should be permanent and specific. It has to be realistic to avoid changes, remember it is harder to hit a moving target. Then work towards you goal every day with persistency. Daily, weekly, monthly, set your short term goals to help you achieve what you want in life.