Is Saving Your Money Really The Way To Build Your Wealth?

Is Saving Your Money Really The Way To Build Your Wealth?
By Omar Best

Many people, including myself, were trained to believe there is only one way to live our life. Many of us were led to believe that you should:

• Go to college so you can secure a good job.
• Once you secure that good job you should make your supervisor happy so you can get a bigger paycheck.
• Save your money.
• Then retire.
• Receive your retirement check.
• Die.

If people choose to follow this path, then that is their decision. The major issue here is that many people were only taught one way to live their life. Ironically, some individuals will say that the so-called elite or top 1% intended for it to be that way. The strange thing is most of the super wealthy have decided to go about their life in a way that goes against the grain.

Of course, as much as they may want to, the rich have not uncovered a way to live forever. But you better believe they are trying to figure it out.

Continuing on, as a youngster in high school we were not told to become entrepreneurs, invest in stock, or invest in real estate. We did not have any investment classes or business classes available to us in high school. As a result, you have many people who have no idea of how to start a business or the different investment opportunities available to them.

So what is it that the rich do that is so different?

The wealthy do many things differently from the average person, but the significant difference is that wealthy individuals choose to invest money versus saving it. The rich recognize that they can make more investing their money instead of putting it in a bank account. In spite of all that, if there are not any good investments out there, then they will most likely consider putting their money in a low interest savings account. However, the wealthy are always searching for investment opportunities that will earn them the best return for their money. When they uncover that money making investment, the cash in that low interest account is coming out.

Here is the difference in the thinking of a wealthy individual and the average individual.

The average individual would rather save $100 a month in a retirement account for 25 to 30 years and then start collecting their pension check of $3000 month at 67 years old when they retire.

The rich also views investing as a risk, but they look at investing as an opportunity to make more money versus losing money. Rich people would rather invest $6,000 in a venture that will earn them $100 a month in cash flow for the next 10 years. In addition to that, they realize that the venture or investment will be increasing in value.

If you truly want to be wealthy, then shouldn't you try to do what the wealthy do? If you wanted to be a good football player, you would not emulate Micheal Jordan.

With that said, you should consider learning about your investment alternatives outside of your pension plan and bank savings account. You really need to understand that there are other investment alternatives other than a simple bank savings account like real estate and stock investing.

Lastly, when you begin to discover these alternative investment vehicles your family and friends will try to discourage you. Many people will advise you that these investments are dangerous and that you will lose your money. These same people will tell you that you should continue to live the way that you are living and that money is not everything.

Ultimately, you have to make the choice on whether you will find out about other types of investment vehicles or not. However, you need to recognize that in order to change your financial status you will have to change the way you think about finances.

Learn more ways to invest your money at http://howtobeastockmarketplayer.com/2012/03/stop-letting-the-banks-have-all-the-fun/

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How Managing Your Energy Can Make Managing Your Money Easier

How Managing Your Energy Can Make Managing Your Money Easier
By Frederick W. James MD

Managing your money well requires you to manage your energy and your emotions well, we all know that. How much harder is it for you to resist the temptation to overspend or to stay committed to your daily personal finance planning habits when you're physically exhausted? On the other hand, how much easier is it for you to remain hopeful and enthusiastic about your financial situation and practice good spending habits when you have a lot of energy and focus?

Considering this, let's look at some things you can do to ensure that you have all the energy you need to stay committed to your plan for creating financial freedom.

Sometimes Less is More

If you're working extra hours to earn more money, it's important to consider the impact on your ability to be productive and to do the best job possible. There are times when you can do more and more before the good old law of diminishing returns starts to chip away at your ability to get the best results. Your body needs time to rest, to relax and to refocus, that is if you want to live a long and healthy life.

This downtime is beneficial to evaluating your progress and reworking your personal finance planning, a key activity that I teach my coaching clients. So the first thing to ask yourself is... how are you using your energy, and are you giving yourself the time needed for recharging?

The Great Energy Paradox

I doubt I have to sell you on the benefit of good exercise. Do you know why many people avoid exercise? Is it because they don't have the energy, or because they don't have the time? Ironically, this is the very reason why you need to commit fifteen to thirty minutes a day to cardiovascular exercise or strength training. The more you do this, the more energy you'll have, the more focused you'll be and the more you'll get out of the time that you have.

Eating Healthy is the Best Way to Spend less Money

Eating healthy is another one of those paradoxical things that people don't do because they either don't have the time or don't have the money. It might interest you that the leading cause of personal bankruptcy is medical bills, and a poor diet is certainly an invitation for health problems. Perhaps not right away, but eventually poor eating habits will catch up, and when they do you'll find that they've been collecting "compound interest" the whole time.

So if you want to make sure you have the energy and the willpower to stick with your personal finance planning commitments and to manage your money well, follow these simple tips. You'll be glad that you did.

Before you spend any more money, download this FREE report on personal finance planning. Discover the simplest way to achieve financial freedom through the use of Powerspending.

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