Some Of The Three Pillars Of Wealth Creation - By Ben Le Fort

Published Jun 26, 22
4 min read

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That means that the passive group – the “know-nothings” – must win.” [Read “What is the Difference Between Active and Passive Investment” to learn more] Best investment opportunities Given the above, what are the best investment opportunities to build wealth from nothing? 1. Stock ETFs Buying the shares of companies is one of the best ways to build wealth.

Though stocks are riskier than other asset classes, they produce the best returns on investment. With a good 2. Bond ETFs A bond is a debt instrument used by governments and corporations to raise money. Bonds can be corporate (issued by companies), federal (issued by the federal government), or municipal (issued by government agencies).

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Like stocks, the best way to buy bonds is through ETFs. Bonds are less risky but they offer lower returns compared to stocks. However, when combined with stocks in a portfolio, they reduce the overall risk of that portfolio 3. REIT ETFs Instead of renting or buying and selling real estate properties, which is very risky, REITs (real estate investment trusts) provide an alternative way to profit from the real estate industry.



When the value of the real estate or mortgage company rises, your money grows in value; those companies are working for you. REITs pay a very high dividend (they are Like stocks and bonds, ETFs are the best way to buy REITs. 10. Use a robo-advisor How do you create and manage your portfolio of investments? When they start investing, investors have to decide how to create a portfolio of stock ETFs, bond ETFs, and REIT ETFs.

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Trips to visit grandkids, travel adventures, and family celebrations at your paid-for home. That’s the kind of retirement many Americans dream about. You don’t have to earn six figures to turn this dream into a reality. But you do have to live and plan today with that goal in mind.

Then we’ll dig into some age-specific goals so you have a financial plan for every stage of life. Ready? You can do this! The 5 Keys to Building Wealth Here’s the deal: If you do these five commonsense things that come straight from the Bible and your grandmother, you will win with money and build wealth.

It doesn’t matter if you’re 25 or 52, these truths are foundational and constant at any age. Depending on your income and the challenges you’ll face throughout your life, it might take some folks longer than others. But the fact is, you will get there if you do these five things over and over again.

Have a Written Plan for Your Money (aka a Budget) No one “accidentally” wins at anything—and you are not the exception! If you want to build wealth, you have to plan for it. And that’s exactly what a budget is—it’s just a written plan for your money. You have to sit down at the start of each month and give every dollar an assignment—and then stick to it! When our team completed , we found that 93% of millionaires said they stick to the budgets they create.

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That’s dumb with a capital D! Get debt out of your life first. Then you can start thinking about building wealth. 3. Live on Less Than You Make Proverbs 21:20 says that in the house of the wise are stores of choice food and oil, but a man devours all he has.

The myth that millionaires live lavish lifestyles that include Ferraris in their garage and lobster dinners every night is just that—a foolish myth. Here’s the truth: 94% of the millionaires we studied said they live on less than they make. The typical millionaire has never carried a credit card balance in their entire lives, spends $200 or less on restaurants each month, and still shops with coupons—even after reaching millionaire status! So ask yourself: Do you want to act rich or actually become rich? The choice is yours.

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Save for Retirement According to The National Study of Millionaires, 3 out of 4 millionaires (75%) said that regular, consistent investing over a long period of time is the reason for their success. They don’t get distracted by market swings or trendy stocks or get-rich-quick schemes—they actually save money and invest! Being debt-free and having money in the bank to cover emergencies gives you the foundation you need to start saving for retirement.

When you do that month after month, decade after decade, you know what you’re going to have in your nest egg? Money! Lots of it! 5. Be Outrageously Generous Don’t miss this, y’all. At the end of the day, true financial peace is having the freedom to live and give like no one else.

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