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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