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2. 2. Storing And Saving
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Moving From Income to Wealth
There is no formula to determine how much wealth is wealth enough for you, or how much income is needed to build that wealth that will keep you satisfied. It all depends on you. What’s common to all of us is that In order to start building wealth, a proportion of our after-tax income should be sa...
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1. Generating Income
Unless you encounter the good fortune of inheriting money, property, or other assets to fast-track your journey to wealth, savings and investments from your income are the two principal strategies that can make you wealthy. That income can be earned in two main ways:
- Active or earned i...
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88 reads
3. Invest wisely
The closer you are to retirement, the less risk you can afford. Before you make investment decisions assess the risk vs the return of such a decision.
- Shares (Higher risk, potential for higher income)
- Property (Medium risk, potential for steady income)
- Interest-paying (...
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71 reads
4. Maintaining and Managing Wealth
It’s good practice to re-evaluate your investments from time to time; you may find better assets to invest in, or opportunities to have better returns at lower fees.
Also political and economic events affect your investments, so it’s always good to watch out for them and react accordingly.
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90 reads
CURATED FROM
How to See Through the Smokescreen of Gurus who Promise you Wealth
informationprime.wordpress.com
5 ideas
·455 reads
CURATED BY
Writer, artist, Accountant and a forever learner. Learning, loving, Hoping.
These ideas talk about how to use your money/income as a means to build wealth
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Properly Storing Coffee
The National Coffee Association certainly believes that the best way to store coffee is to put them in an airtight container.
Coffee should be kept in an opaque container that is able to protect it from light and then stored in a cool place.
Storing energy for building
Glucose is the primary "fuel" that produce energy.
- Fats are packed into small units called lipoproteins and stored as body fat for later use.
- Proteins are broken into amino acids
Saving Up
Every penny counts.
As corny as that may sound, no amount is too small that you won't benefit from saving. Having an emergency account is a leverage that one can achieve to have.
It's better to have something on a rainy day than nothing.
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