Growing our wealth, or our wealth accumulation, is a very difficult subject because of all the different variables that can come into play. We can eliminate a lot of the variables by simply deciding what the most important things are that one wants to accomplish before starting to create a plan.
Our world is filled with inaccurate counsel about how to create and maintain wealth. The line between wise and foolish behavior is blurred for many people who hear traditional investment advice and believe it is good and practical because everyone is doing it; when at the same time, sound wealth principles are deemed as foolish.
The key elements and advantages that we gain by choosing to grow our own wealth are:
- Converting liabilities, our credit card bills, car payments, etc., into assets. (Buying our debt back.)
- Recovering the interest we pay to finance cars or other major purchases.
- Stopping the transfer of our wealth to banks and finance companies. (Don’t you think they make enough already?)
- Asset protection. (No one else has access or can take this money from us.)
- Tax advantages. (Money grows on a tax-free basis.)
- No monthly ‘management fees.’ *(The investment gurus love this one…NOT. lol)
- Gives us liquidity, use, and control of our money. (Our money is available to us whenever we want it.)
- Identifying money that we are unknowingly and unnecessarily transferring away from ourselves.
- Using common sense ideas, concepts and strategies.
- Revealing the insanity behind using “traditional” (out-of-date) financial strategies in today’s volatile markets.
- How to put our money to work for us 24/7, 365 days a year without any risk. (Catch that, WITHOUT ANY RISK!)
Believe me, this is one of those things that everyone always says to me:
If only I knew about this when I was eighteen!