How to Succeed on Your Wealth Creation Journey

24 Aug 2021
Inversion,
Succeeding on your wealth creation journey can seem challenging, but perservering, remaining realistic, and staying focused can make all the difference.

The famous novelist Ayn Rand once said, “Money is only a tool. It will take you wherever you wish, but it will not replace you as a driver.” Wealth creation doesn't magically happen overnight. If you’re dreaming of retiring in luxury or rapidly expanding your nest egg, you need to learn how to make your money work for you. Many people think of money merely as a means to survive, but if you have the right attitude, you’ll know it’s a tool that can be leveraged to achieve greater wealth.
To succeed on your wealth creation journey, you need a wise strategy and an investor's self-belief, perseverance, and resilience. Wealth creation is a long-term endeavour, so it’s inevitable there’ll be many ups and downs, but with the right attitude and risks, you can steadily grow your nest egg. Having a diverse financial portfolio is one way to minimise risk and increase your financial status, but often, the real potential of your money-making ability depends on your attitude

 

building wealth with real estate

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Be Realistic 


Capitalism has made our society meritocratic, meaning that most people measure their personal value based on the size of their financial portfolio. Money makes life easier, but it’s not a measure of your self-worth. It sounds a little obvious, but if you lose money on a bad investment, you need to be able to revitalise your spirits and realise your personal life and health will always be your highest-return and lowest-risk investment. 


For successful wealth creation, you need to combine unbounded optimism with a dose of realism. Over the long-term, a 9-10% yield per year is a good return for ownership investments like stock and real estate. Anything above that should make you suspicious, so be wary of advisors who offer unrealistic returns!


Stay Focused 


Think long-term; few wealth creation investments provide a quick-fix payout. Ownership investments are often riskier and more volatile, so you need to maintain your perspective. Don’t waste time devoting funds to such investments if you don’t plan to stay in the market for at least five years. Remember, most long-term investments accrue value over decades. This is why it’s also important to find a sound investment advisor, who isn’t swayed by trends and shares the same long-term goals as you.

 

 

 secret of wealth creation

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Act Strategically 


Some investments like being a partner in a small business can be very time consuming. You only have so much time each day and you need to prioritise the type of investments that work best for you. If you’re not hands-on, then put your money in stocks and if you have real estate, hire a property manager to take care of maintenance and rentals. 

 
Practise Perseverance
 

Investment growth is dependent on the economy whose behaviour is influenced by social, political and economic global events that can’t be controlled by individuals. We know it can be extremely challenging to hold onto your investments if prices plummet, but savvy investors believe the last thing you should do is sell. In fact, when value decreases, those investors who can afford to increase their spending do so because they know at some point the value will increase again.


Gain Perspective 


 You might be making a killing in small business or real estate, but when it comes to the stock market, your investments might be depreciating. Given the nature of the economy, which is an organic, ever-changing phenomenon, you can’t expect all your investments to flourish all the time. It’s natural that at different times some will do better than others. This is the main reason why intelligent investors diversify their nest egg so they can attain steady and stable wealth creation.
 
Creating wealth isn’t always easy, but with patience and resilience, you can gain large sums of money over time. Watching your money grow and knowing that you are building a happy financial future for your retirement and your family is a noteworthy achievement. 
 
If investing in real estate sounds like an attractive option, then check out our apartments in Calpe. We offer appreciating property at competitive rates guaranteed to strengthen your investment portfolio and we’re happy to speak to you and clear up any doubts or concerns.

 

 

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