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Wealth And Prosperity Is A Slow, Consistent Process

Guest post by: Michael Hume

Article Overview: Since the second world war, people in the western world built wealth primarily by working a salaried job, saving money from their salaries, and investing in standard vehicles such as stocks, bonds, and mutual funds. It was the slow-and-steady way to get rich, and it served at least two generations very well. But what worked to build wealth and prosperity for the past sixty years will not work for the next sixty months. In fact, the world economy is in such a shambles right now, traditional wealth-building strategies are already at great risk... and only a tiny percentage of investors are aware of this....

Wealth And Prosperity Is A Slow, Consistent Process

The Next Generation Of Wealthy Will Be Entrepreneurs As an "executive coach to the stars" in the world of business and entrepreneurship, I've learned that "get rich quick" schemes don't work. The achievement of wealth and prosperity is a slow, consistent process and requires a "TEAM" of personal resources: Time, Energy, Attention, and (yes) Money.

Since the second world war, people in the western world built wealth primarily by working a salaried job, saving money from their salaries, and investing in standard vehicles such as stocks, bonds, and mutual funds. It was the slow-and-steady way to get rich, and it served at least two generations very well. But what worked to build wealth and prosperity for the past sixty years will not work for the next sixty months. In fact, the world economy is in such a shambles right now, traditional wealth-building strategies are already at great risk... and only a tiny percentage of investors are aware of this.

Some experts say there is a $50 trillion wealth transfer underway right now, with great sums of money flowing from the uninformed to the enlightened. And the new generation of wealthy, without doubt, will be entrepreneurs.

Only entrepreneurs can reliably create wealth. Government can't do it (in fact, it only consumes wealth, these days in great gobs). Big Business is now constrained (largely by government), and its ability to create wealth is hobbled. Individuals, who depended on both of these storied institutions for their own investments, can no longer dependably create wealth like they used to. It's up to the small business owner, the person who comes up with The Big Idea and adds the drive and passion to make it a reality. That entrepreneur will be the engine that saves the world economy, if anything can (and it may only happen after a serious crash). Only the entrepreneur can create jobs, create wealth, and create prosperity for herself and everyone around her.

That said, most of my colleagues are making at least half of their personal wealth from "secret" investments, in addition to the revenue they generate in their businesses. The key is learning about these vehicles by finding objective advice. You can go almost anywhere on Main Street or in cyberspace to find someone claiming to be a financial advisor, but what most people don't know is that the overwhelming majority of those "advisors" work more for the firm that certified them than they do for you, the individual investor. They're likely to "put you into" their firm's investment products, and those products are likely to be tied to the old-school strategies which are doomed to sudden and ugly failure in the next few months. If you can join a private wealth group, and get advice from other successful individual investors, you can remove the bias and educate yourself well enough to make your own objective investment choices. That's the sort of strategy that will make you a winner in the new global economy.

But these days, everyone should own a business. Your job may seem safe; is it, really? Beyond having something to fall back on, a home-based internet business is the best vehicle for anyone who realizes that the pursuit of wealth and prosperity is a slow, consistent process. Find a good platform and community of like-minded entrepreneurs, roll up your sleeves, make the appropriate investments of time, energy, attention/focus, and capital...and you'll be in the best position possible to weather the coming economic storm and come out clean (and wealthy) on the other side.

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Article Tags: entrepreneurship, health wealth and happiness, inspirational leadership, personal responsibility



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