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By Marcus De Maria
Most people master one or two areas of their lives and still have a way to go on others. When talking about finances, it seems to be one of the categories most people have a challenge with - possibly, because it is such an emotional subject. The first point to remember is that it is just another category – equally important as all the others for a balanced life, and needs time, focus, action and a supportive environment to master.
Anyone can do it and so can you
The good news is – anyone can do it! If other people have done it then you can to. Often the most difficult part is, knowing where to look, and then getting started. The rest is much easier.
There are only 4 steps to mastering financial wealth
A good place to start is to master the Formula for Financial Wealth. There are only 4 steps to this, but don't be fooled by its simplicity – these steps are written in gold:
1. Spend less than you earn . To do this you need to know your spending habits – how much is coming in? What are you spending money and/or wasting money on? You may have bad debt which is eating away at your savings, which you need to tackle head-on. Finally you need to get into the saving habit. This means taking £50, £100 or even £150 a month and saving it. Get others in your family involved as well and see how much you can save. A good trick is to have it diverted by your bank as soon as is comes in from one account to another so that you will never miss the money.
2. Invest the rest . There is no point hiding money under your mattress. Money needs to flow so that it can make you even more money. The key is first deciding what to invest the money in. Remember, the ‘how' comes later.
There are 5 pillars of wealth to be discovered by you, some you will already know:
- Property
- Stocks and shares
- Traditional business
- Marketing on the internet
- Intellectual copyright and product development
3. Re-invest to Compound your returns. Too many people think of a profit or a windfall as an opportunity to spend. Spending is the opposite of what we want to do. We want to re-invest any profits on a continuous basis each time it appears in order to benefit from compounding. Compounding is an amazing phenomenon. Albert Einstein called it “The 8 th Wonder of the World”. The reason he said this, is because the growth is exponential.
4. Reach critical mass and live off it! All this means is, having accumulated through the power of compounding, a lump sum of money in a high yield savings account which is large enough that the annual interest on it is going to pay you enough to enable you to live the life that you want. Imagine that – being paid by the bank!
I look forward to this journey and helping as many of you as possible face your cute little monsters as soon as possible.
Invest with passion … and profit!
Marcus de Maria
marcus@investment-mastery.com
www.investment-mastery.com
0870 835 2260
