Creating wealth is not a get rich quick scheme. It is about having a plan and working at it on a regular basis.It is about “slow and steady wins the race“. You are a tortoise and this can translate into wealth creation even if most of us will not end up instant millionaires. It is more about coming up with a wealth creation plan in an investment medium that you are comfortable with and committing to make it happen.
Many of us dream about winning the lottery. Imagine what fun it would be to have the money to spend. The odds of winning the lottery are very much stacked against you. In fact you have more chance of being struck by lightning than winning the lottery. Let’s forget the unlikely instant wealth and put our minds to work on saving and investing your way to a more likely wealth.
Did you know that apparently 70% of lottery winners end up broke within the first few years of the win? The theory behind this is that because you have not learnt how to make the money then an unexpected lump sum seems to beckon spending. You need to learn how to manage and invest money. Once spent it is almost impossible to re-create.
Instead the mantra should be creating wealth one step at a time. Stephen R Covey in “The 7 Habits of Highly Effective People” Habit 2 says we should begin “with the end in mind”. He wants to emphasise beginning each day, task or project with a clear vision of your desired direction and destination, and then continuing to make those things happen. When we know where we want to end up then we can put plans in place to ensure that it happens. It becomes almost ridiculously simple. It isn’t but with a plan we know what needs to be done.
Lane Kawaoka is setting himself up to leave the rat race behind. He discovered that he could make a profit from renting out his house, and it spurred him on to purchase more investment properties. Lane is now a Real Estate Entrepreneur doing syndicated private equity group deals. From him you will learn how to set up simple positive cash flow with Real Estate. It is not a get quick rich scheme but this young man is setting himself up through a commitment and vision for a future which includes a dream retirement.
Real estate has worked for many people. However having a vision for your future, creating a plan and then working consistently towards achieving that goal increases the chances of reality in achieving that goal. For more on this listen to podcast episode #71 which is about how to leave the rat race by setting up simple cash flow through real estate.