Wednesday, September 13, 2006

My opinion on how to accumulate Wealth

I have read alot on Wealth creation books... from Buffettology, The Five Rules for Successful Stock Investing, The secret of self made Millionaire, Multiple source of Internet Incomes..... the list go on.

In my own opinion ... after much thought on all the inputs i have read, i summarized wealth creation in this few steps

1) Dare to dream on how much money you want to make.
2) Define the goal on when you want to achieve it.
3) Get leverage by listing down the pains you will suffer if you do not achieve your dream. Put it on black and white and sign it!
3) Look for Strategies to achieve it. The easiest is to find someone who has already achieve the dream that you desired in the time frame that you have set in you goal.
4) Take action to adopt the strategies once you have found it.
5) Evaluate the result if the strategies give you the desire result. If not, make changes to the strategies or even find new strategies.
6) Be persistent until you are successful. If at any time you are demoralised, take out the list of pains you list down on step 3, read it many times until it internalised into your being.. This will provide you with the momentum to move forward again.

Finally, i would like to end my first posting on my blog with this quote of the day:
"If you dare for nothing, you should hope for nothing."

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