7 keys to getting rich – slowly
Anthony Keane shares in the Sunday Mail on Aug 28 2023 the 7 keys to getting rich – slowly!
- Become an Investor – invest in real estate, property, your own business . Begin early – as time and compound interest is a magic source in wealth creation
- Leverage your investment with good tax effective debt – use other peoples money – where the interest you pay will be covered by the income earned from your investments and tax deductions – (make sure you have a great accountant, financial and mortgage broker who work together to maximise your opportunity
- Buy Property – it tends to double every 10-15 years – and easy to borrow against it at lowest interest rates
- Buy a business/businesses that you understand – most billionaires started with a business idea that worked – after many had failed before striking gold
- Diversify into other assets
- Seek passive income – where you earn income without having to work – such as dividends or rents
- Plan – write down your plan – and monitor your progress Don a regular basis
The IK formula steps simplified
Make sure that more money comes in than goes out on a monthly basis – and with that surplus
Buy low , Sell high with other peoples money – and do it regularly.
Don’t be afraid to take risks and fail until you succeed !
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