Accelerating Your Wealth Cycle

Reprint of original article posted on Liveoutloud.com

Are you paying yourself first?

You have placed the Lifestyle Cycle on the back burner for a while, focusing your talents and energies on building a Wealth Cycle instead. A Wealth Cycle is the best reward for this seeming “sacrifice” – you’ll see! Believe me, one year from now, you will be so glad you started when you did!

When you look at your Wealth Cycle, you will want to start focusing on your asset column. Assess how the asset column is performing. There are four essential steps to make sure that the foundation of your Wealth Cycle is solid and intact:

1) Paying yourself FIRST
2) A thorough review of entity structure and tax implications
3) Clarification of the decision to be an active or a passive investor
4) Develop and commit to money rules

You have a foundation set, and now get ready to accelerate your Wealth Cycle! In accelerating, this is where you leverage your assets to generate more wealth and passive income. It is about learning and utilizing high-end investment strategies, tax benefits, and entity structuring.

What are some options for investing strategies?

1. Cash and cash equivalents: savings accounts, checking accounts, money market accounts, certificates of deposit, treasury bills.
2. Bonds: savings, U.S. Government, municipal, high-quality corporate, junk bonds.
3. Stocks: large cap vs. small cap
4. Real Estate: cash, cash flow, commercial, raw land.
5. International securities
6. Precious metals: gold, silver, platinum.
7. Natural resources: minerals, oil and gas (my personal favorites)
8. Collectables: stamps, coins, gems, artwork.

This gives you an idea of the array of options available to you for you to invest in. With a recipe of education and support, consistency, motivation, and creativity, you can leverage these options to accelerate your wealth.

It’s all learnable and doable. I know – I did it for myself!