The foundation for every personal pursuit in life is to invest in yourself. It can take years. How you can do it:
<ul>
<li>Learn to build something. If you can create something valuable with limited resources, you can create value.</li>
<li>Learn a rare and valuable skill.</li>
<li>Build a network of people who are doing well in life. </li>
<li>Save enough money to live on for at least six months.</li>
</ul>
A good supply of ideas is the first pillar of wealth building.

How you can invest in yourself

It is anything that will increase your wealth without personal labor.
<ul>
<li>Businesses. This is a broad asset class. You can buy dividend-stocks on the market, and then the companies will pay you a share of the profit. You can start your own business. You can buy into other private businesses. </li>
<li>Bonds. When you invest in bonds, you collect interest just like your bank is collecting on a mortgage.</li>
<li>Books. A good book will generate cash for a long time.</li>
</ul>
Assets that don't generate cash, but might increase in value.
<ul>
<li>Land. A piece of land generates cash when you rent or lease it. </li>
<li>Collectibles such as art or watches.</li>
</ul>

Asset investing

Once you have ideas, you want to put your ideas to work. If you do that, you can start creating value. When we create value, we generate income.
During the pandemic for example, most restaurant owners had to focus on other ideas to generate income. Building wealth is not easy. We need a constant supply of ideas.

Income generation

Once you've acquired some wealth, you want to protect that from external factors.
You want to keep your assets safe from legal institutions and ensure you don't pay more tax than required. You will have lawyers and accountants to take care of these items.

Protecting your assets

At some point, you've acquired enough wealth so that you're only moving around your resources. You will generate value and cash by selling one stock and buying another, or selling land and buying a cash-generating asset.
Successful investors put their wealth to work so that it will not only benefit themselves, but will have an impact on the economy, jobs, and lives of other people.

Capital allocation

I’ve identified five pillars of wealth that support our understanding of effective wealth building. You'll see these concepts everywhere.

Protecting your assets

The Five Pillars Of Wealth Building

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