Creating Wealth on your Current Income

ProfitWhen most people think of “creating wealth” it conjures up grandiose mental pictures of fabulous riches and exotic celebrities.  However,  “wealth” simply means you own valuable assets.  There is no particular reason why normal, regular people can create wealth using nothing more than their current income and intelligent decisions.  The principal barrier to achieving this goal is a mindset that “It takes money to make money.”

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Wealth and Income

During business and economic discussions, it seems that distinctions are rarely made between income and wealth.  Income represents the resources that are accumulated annually.  Wealth represents the total amount of resources that have been accumulated throughout the tenure of your life.  Income must be earned by you year after year.  Wealth can be used to generate income year after year, without any direct input from you.  (Now we’re talking …)

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