Solve problems and make money out of it!

Do you always complain about your problems to your family and friends?

Be it about your career, money or even your relationship problems. People nowadays love complaining so much that they forgot to solve their problem. They would rather sit down, talk about their problems and go back with the problems.

As a financial planner myself, I do have problems on my personal finance but I hate to complain about my problems. Whenever I have a financial problem, I would sit down, brainstorm ideas on what are the possible solutions and I solve my problem. I like to tell my friend that they should never complain about problems, what they should do is to turn the problem into an opportunity and anticipate solutions.

To be successful, you have to have turn problems into an opportunity. If you stay longer with trying to solve the problem, I am sure you will come up with the solution. Every bad experience or problems adds to your learning curve. Always believe in blessings in disguise. Instead of talking and complaining, do something about it.

If you have a good problem solving techniques, you can even earn money from your skills. Impossible is no longer applicable now. In he world of opportunity, money can be earned easily. Look around you, there are more and more millionaires around. The number of people becoming a millionaire has increased tremendously over 20 years.

Thanks to internet, earning a 6 figure income a month is no longer impossible. Internet marketing is growing its popularity and I am sure that the number of millionaires will increase exponentially. If you look at internet marketing, basically everyone is trying to solve someone else’s problems. Like I said, every problem serves plenty of opportunities.


to be cont'd

Do you spend money like a millionaire?

People who have an income of more than $10,000 may seem to have lots of money. However, believe it or not, these people also are suffering the same dilemma of a people who earn less than $3,000 a month. Everybody will have a financial problem as soon as they earn an income.

This problem is a common problem and there are many products or tools that are designed to help solve this problem. Personal cash flow management is very important and having a good cash flow management technique will definitely help you create your means.

Some people have good personal cash flow management but what they are lacking at is they do not know how to spend their money effectively. Spending effectively or smart spending is something that will help you in your monthly expenses. You can even save money when you are shopping!

I used to have a very bad habit of spending money and not have a savings. I would not plan for my budget and would buy anything that I want. After 2 years of having an income, I was stuck with just one bank account, no savings account and no contingency plan for any emergency.

When I was introduced into the finance industry, I learned a great deal of information on wealth accumulation techniques. Without financial education, I think I would still be living the same live that I used to live, that is to spend and not to save. Saving money is a trait of a millionaire. Millionaires do not spend their hard earned money just like that; they are more frugal and save a lot of money.

If you want to be a millionaire, you have to think like a millionaire and be frugal like a millionaire!

Retire Rich!

Retirement is something that is often overlooked yet the most important time of your life. People are expected to live longer; meaning that people will spend more money on medical expenses. With the advancement in medicine, almost all sickness can be cured. With this, you must have a very good retirement fund that you can rely on.

In Singapore, the government had initiated a compulsory savings for retirement purposes. I have seen many people who do not have enough money for their retirement; the reason for this is that most of them do not start their retirement planning until they reach their late 30’s.

Retirement planning actually should start the moment you start getting a pay. Although it may seem that your retirement day is still very far away, having an early start will guarantee that you have a comfortable retirement days.

There are many ways whereby you can prepare yourself for your retirement. Insurance companies are coming up with a variety of products that can prepare you for your retirement. Products like life insurance, endowment and annuities are very popular for individuals who are planning for their retirement.

You may wonder why life insurance can be a tool for your retirement, it is because it has cash value and some life insurance covers you until the age of 65. After that, the insurance company will give you back the money your money plus interest. On the other hand, endowment has little protection but more on savings goals.

The best product for retirement is annuity. There are many types of annuity that is in the market. Basically, what annuity means is that you give a lump sum to insurance company, and then you will get your money on a monthly, quarterly, half- yearly or yearly basis. The balance of your money is then invested. Some of the annuity product can pay you up until you die and some pay you on a term.

Whatever the methods and ways to secure your retirement years, you must have a good plan for your retirement. You cannot afford to make mistakes in your retirement years as time is money.

Increase your wealth today!

I used to get jealous whenever I see people driving off their luxury cars. I would give negative comments about the wealthy people and I used to hate them. I used to think that they are just simply lucky to be born rich and have a capital to start with. I labeled these people as people who are born with a silver spoon. I used to think the the rich are getting richer while the poor are getting poorer.

I never thought that I can be rich and wealthy because I am not born with a silver spoon. Although I have negative attitude towards the rich people, I myself was working quite hard to earn a living. I did all kinds of jobs in all kind of industry. Some of my friends once called me ‘Jack of all trades.’

One day, I was sitting in a coffee shop and overheard a group of uncles talking about money just next to where i am sitting. I was listening to the whole of their conversation and I got really excited. Their conversation got me excited and got me motivated to make more money. They were talking about investments and multiple income streams.

That very day, I came home with intentions to source out information on wealth creation in the internet. Honestly, I was quite amazed by information that I gathered and I got very determined to make million. The first move I made was to enroll in financial courses. The financial course that I took includes financial planning, insurance planning and stocks and shares.

Day after day, I can see my wealth clearer. I used to think that people who want to be a millionaire were dreamers and this dream to be a millionaire is dreams that you make during your school days. But now, I found out that there is a system that works. Of course not the get rich quick scheme kind of thing but with my financial knowledge expanding, I realized that getting a million dollar in my account is a realistic goal.

I also found out that to get multiple income streams is not that difficult. One of the best income streams that you can have is from internet marketing. If you read about internet marketing, there are people who earn a whopping 6- figure income monthly. However, internet marketing is not an easy task and you really have to do a thorough research on internet marketing. It may seem like its easy, but if you really do it, it can get extremely tough.

I hope that all of you will enjoy your financial freedom day soon and increase your income tremendously. There is nothing that is easy, however if you are strong enough to face all the challenges, you succeed in what you do.

A dollar a day, keeps the debtors away!

If you are earning a mere $1,000 to $2,500, do you think you can be a wealthy person and reach your financial freedom day? In my experience of being a financial advisor, I met up with a lot of families that have an income of less than $3,000 and bearing 3 children of age 9 to 17. Usually these people that I meet have dreams of having enough cash so that they can afford many things.

However, these are just dreams. These people that I met have a common problem. They do not know how to manage their cash flow effectively. They usually have no savings and complain that they cannot save because they have to meet the ends need. They know that savings is very good but do not make an effort to save their money. no matter how small the amount maybe, it will accumulate and when it accumulate, you will encounter a lot of money making opportunities.

When it comes to managing your money, you will need to be discipline. Nothing in the world is easy. Wealth can be attained by anyone at any income if they have discipline and patience. When you do not manage your cash flow, you cannot make any investment planning, risk planning, retirement planning, tax planning and estate planning.

It’s never too late to start managing your cash flow and start saving money. a tip will be to list all expenditures from the most important to least important order. Track these entire expenditures even if it less than a dollar. Once you know what your spending style is, then you can develop your very own unique budgeting.

The most important and most valuable tip from anybody that are very serious about savings or anyone in the finance services industry is to save 20% of your income. This 20% is deducted from your income first, deposit into the bank, then the rest is for you to plan how you going to spend. Personally, I think this tip is a very difficult to practice but you will get the hang of it. If you are truly serious about your wealth, start saving today!

Insurance; a must have for anyone!

After a person finish their education, usually one will get a job. Upon getting a job, one will be termed as facing the ‘real’ world. What is meant by ‘real’? Is it the challenges or the fact that one has to be responsible of their financial goals? Whatever the reason may be, one has to consider about risk.

What happens when unfortunate things happen?

Who will bear the family if you get into an accident?

Who pays the liabilities if something happen?

These are just some of the questions that one must ask when they start getting an income. Risk management is something that is often overlooked and usually people will end up paying a higher premium because of age and health condition. Risk management is something that cannot be done alone; you need help and advice from a professional. I reckon that anyone can do their risk management without professional help.

As a financial planner myself, all my insurance are handled by a third person because I do not want to be bias of my decision and waste money unnecessarily. Insurance can be asset if you know how. These assets has very liquidity rate too.

In choosing an insurance policy, you need to know how you can benefit from the policy. You do not want a policy that is too expensive or too little protection. An insurance policy must not be viewed as a burden; in fact it should be viewed as something that is a necessity.

There’s no time for you to regret when something bad happen to you. Risk can be transferred to insurance companies. With time changing so fast, you will never know what lies in front of you. I suggest that you have at least a life insurance in your portfolio. Be smart and responsible of your life. Risk management is something which is very basic and a need for anyone who has an income.

Believe it or not; you will be a millionaire!

If you really desire to be a millionaire, the only person that can make that change is you. You do not pass on your failure to your next generation for them to conquer it. Let face this fact, your children will see you as their model and they will do the same thing when they have their own children; to pass their failure to the next generation and hope.

I am very confident to say that financial freedom can be attained by anyone in this world. Unless of course if you are mentally disabled, in a coma or facing a life sentence in the jail. Now, you must be wondering how you are going to attain that financial freedom day that you have been eyeing for.

Financial freedom can be attained only if you plan. Planning your financial goals is a lifelong process but a rewarding one. When you plan your financial goals, you will have a better picture of your financial status. When you dedicate your life to financial freedom, you automatically expose yourself to many opportunities. It is then up to you to strategize your goals.

In the planning process, you will learn a lot of valuable knowledge on finance. Take this from me. Even though I am not yet a millionaire but I can calculate when I can attain my financial freedom day. At the tender age of 22, I have two businesses that I manage and I am also taking up my degree. I am learning new things and exposed to lots of opportunities day by day. I am so determined to attain my financial freedom day that I am very busy to even spend time my family and friends.

After you finish planning your wealth, you will have a bigger and broader picture of your goals. No one likes to be living in poverty; everyone loves some luxury in their life. Once you have your mindset ready and plan your wealth, you will reach your goals

Be a Smart Investor!

The word investment is greatly mistaken for only to stocks and shares. When someone says he invests his money, automatically other people will think that it’s the stocks market. But do you that you can invest your money in a less risky or even no risk type of investment?

There are investments that will guarantee you same kind of income. However, as risks and returns are conversely related, you will not get as much returns in a no-risk or less risk kind of investment. In short, the higher the risk, the higher the expected returns and expected returns will low if the risks are low.

Does this mean that you have to be a risk taker to get more returns? The funny thing about investment is that you can enjoy growth in your investments in a risky kind of investment. Over the years, many people had come up with formulas, ratios, theories and ways to minimize risk.

Risks itself are divided into 2 kinds of risk; systematic and unsystematic. Systematic risks are risk that cannot be diversified where else unsystematic risks are risk that can be diversified. To understand these risks is not a simple task. One must be well- equipped and very knowledgeable.

If you are not a finance kind of person, you can approach brokers, financial planners and financial analyst for their service. Of course, there will be a price to pay for their services. But if you calculate the servicing cost and the loss from your investment, it will be wise to get their service.

After you get their service, you still have to learn some basic knowledge on investments. You have to ask your agents some basic knowledge so that you do not solely depend on them. These agents have many other clients who are investing money using the agent’s service; you have to be proactive in order to be a smart investor. By being proactive, you can be rest assured that you will not lose as much money.

For readers from Singapore, you can engage my services as your financial planner. I will provide you with all the necessary tools not only for your investment, but also your tax planning, retirement planning and estate planning. I will educate you and train you on how to maximize your wealth, get away from debts and achieve your financial freedom day. Email me your contact details and I will get back you the next working day.

Success Secrets revealed!

I am going to reveal a secret that can change your life. This secret is so powerful that upon reading this post, I will need you to send out only to five of your friends and tell them about what you read. I am not selling any product; hence this is not a network or multi level marketing scheme. My intention is to tell as many people as possible.

Have you ever thought why some people that you know are so successful?

Have you ever asked them how they become successful?

Do you think that you can be as successful as them or even better then them?

Do you ever blame yourself for being what you are right now?

Well, I too have been asking these questions to myself for many years. Naturally, I am a competitive person, but I tend to give up when it comes to studies. I was not the brightest among during my school years but I can safely say that I am one of the best in terms of sports and fitness.

During my school years also, one of my teacher taught me something that is very wrong. He told me to concentrate in my physical abilities since I am not academically inclined. For a while, I prove to the best sport person and injury catch with much faster than I expected. Well, something very good happen to me after the injury. Blessing in disguise? NOT!

As I started getting an income for myself, I was not happy with what I am getting. I started to take many part- time jobs and got acquainted with a lot of people. All of them are of different mindset and attitude. As for myself, I just want to make money and lots of them.

In the process of wanting more money, I was determined that I will network myself and source for excellent contacts. As days passed by, I got myself acquainted with business owners and entrepreneurs. I was motivated by their motivation to reach their goals, that is financial freedom. I was not just motivated; I was modeling their theories and concepts.

To my surprise, I realized a significant difference between them and all my other contacts. It was their mindset, attitude and strong desire for success that separates them from my other contacts. When I have these kind of contacts, I grew stronger and more motivated. I’ll be honest with you, I have never thought that I will be a business man and be in the finance industry.

Moral of the story; success and opportunities are everywhere. It begins with you. Only you can make a difference in your life. When you decide to make a difference, good things will be inclined towards to you. Of course it will not be fast, this is not a fairy take wish- come- true event. It is a learning process.

Are you buying debts?

As soon as we graduate from school, we start working. This the time where you are still young and just trying out to in the ‘real’ world. In this early stage, we do not think much about savings, investments and making money. We are more tempted to spend the money that we get. It’s a good feeling when you do not have to ask money from your parents and use that money for your shopping needs.

The temptation to buy anything that you see, the instant gratification in the early stage of life can create a big impact on your life. Marketers nowadays are getting smarter and smarter; they target almost anyone that has an income. Why do I say this? Well, it is very simple. We are now more driven than ever to buy DEBTS!

We can buy almost anything now. From electrical products to automobiles to housing.. We can even afford holidays that we never thought that we can have. Sellers are now offering loans to anyone that has an income. They make the monthly payment look so attractive you would not consider buying the product.

What you did not consider is your total loan payments and your long term financial goals. Small loans can add up to make a huge loan. At the end of the day, we belong to the category where we are asset rich but cash poor. In the case of loans accumulating rapidly, your assets can turn into your long- term liabilities. It will be impossible for you to get a positive net worth.

When you know your net worth, you will automatically be interested in your yearly cash flow. There are people that are monitoring their monthly cash flow. When you are interested and concern about your inflow and outflow, you can manage your cash flow better. Remember this golden rule; if you cannot manage $2,000 now, you can never manage $20,000 or more in the future.

Investment planning, insurance planning, retirement planning will only be effective and feasible when you have excellent money management. Because you know how to manage your cash flow, you will save more money. This extra savings that you have will accumulate and you can start building your wealth. You need money to make more money.

Financial ratios from your balance sheet.

Financial ratios as discussed earlier are very useful in finding the financial strength and weaknesses of an individual. I must say that these ratios are your guidelines. After calculating your financial ratio, I hope you will get a better idea of what your financial strength and weaknesses are.

Basic Liquidity ratio is to compute the extent your liquid assets can meet your monthly expenses. A ratio of 3- 6 means that you have enough liquid assets to cover for three months of expense. How you get this ratio is just simply by dividing your cash/ cash equivalent and monthly expense.

Liquid- Asset- to- Net- Worth ratio indicates the proportion of an individual net worth that is backed by liquid asset. This ratio works as a useful supplement to the basic liquidity ratio. Just by dividing cash/cash equivalent and net worth. This ratio shows the extent of price risk that you are taking. It is prudent to have at least 15% of individual’s net worth in cash/cash equivalent.

Saving ratio is useful to determine the proportion of your income that is available after all expenses are met. By dividing savings with gross income, you can get your savings ratio. Recommended comfort zone is 10%.

In order to find out how much assets are financed through debt, we shall use the debt-to- asset ratio. This ratio is important because using too much debt to finance assets increases the risk of solvency, especially when there is insufficient cash to make interest payments and principal repayments. Ratio of more than 50% is considered too risky. Divide total debt and total asset.

Non- mortgage debt service ratio is similar to the debt- to asset ratio except it excludes all mortgage repayments from the numerator. A ratio of less than 0.15 is recommended.

To calculate your net worth that is represented by invested asset, we shall use the total investment- to net worth ratio. Just divide total invested asset by net worth. In cases where market conditions are not favorable, you may keep more of the invested asset in cash. This ratio is also to provide feedback on success of your financial plan over the years. A ratio of 50% or more is desirable when you approach your retirement.

Personal Balance Sheet

With information at the tips of our fingertips, we can shop for goods even at the comfort of our home. We can also check out the latest product launch on the internet. Shopping has never been so easy and more people are spending more money as the economy is set to be moving up at a stable rate.

As the economy is growing at a healthy rate, we must also update our balance sheet. Personal balance sheet is a must for everyone who has an income. With personal balance sheet, one can be aware of their net worth. Net worth is derived from the total asset minus total liabilities. The perfect time to improve our financial status is during healthy economy.

As a financial planner, calculating a balance sheet is a simple task as it is a daily routine for me. If you do not have a balance sheet, I strongly encourage you have one done. Alternatively, you can contact any financial planners in your country and they can help you with computing your balance sheet.

Balance sheet comes in a standard form. Assets are usually on the right side, liabilities on the left and from there, you can calculate your net worth. You can find out a lot of useful information after doing up your balance sheet.

Here are some of the information that you can find out;

1. Liquidity Ratio


2. Liquid-Asset-to-Net-Worth Ratio


3. Savings Ratio


4. Debt-to-Asset Ratio


5. Total Investment Asset to Net Worth Ratio


6. Solvency Ratio

I will briefly explain more on the different types of ratios in my next few post. Do give comments if you have any queries. I will be more than happy to help.

Making the right choice!

There are many people out there who advertise their investment strategies. They say that you can also make millions just by applying their investment strategies. If you are a beginner, you may get excited with all the returns that they are projecting to you. Now, ask this question to yourself, if making money is so easy, will there be poor people around?

When I first started learning about investment planning and financial planning, I was overwhelmed by the terminologies and formulas. I did not know that there are many ratios and formulas that you have to calculate. There are both quantitative and qualitative. I know for a fact that making capital gains from investment is not an easy task.

I then made a special attention on advertisements that claim that they can help you make money just by following their steps in making your investment choices. I realized that these people are giving you just the basic knowledge on investment. Most of the time, you will be taught on investing in stocks and shares and forex.

I then ask myself this question, why are they teaching the most complex kind of investment? Well, the answer is very simple; it is to entice you to join their classes. All these people are teaching you are dreams. They teach you what you should do when making an investment, but they forget to tell you the fundamentals of investment.

Which one of these sentences arouses your attention? Make $1,000,000 from forex and shares with these proven steps or learn the risk and fundamentals of forex and shares. As human being, you will definitely be more aroused when you see the first sentence. After reading this article, I am sure that you will think twice before signing up for any investment classes.

But wait! I have a piece of good news to tell you. I have developed a wealth management program for beginners up to expert level. It is not launced in the market yet and I hope to launch it by the end of this year. For Singaporeans, you will have the benefit of attending my classes in a classroom manner and there will also be online programs for people living outside of Singapore. Topic is will cover includes risk management, investment planning, tax planning, estate planning and the most important of all, personal budgeting and cash flow management.

Millionaires and Average Joes'

Motivation is something that is very important in your quest to make money. You will need to stay motivated so that you can attract opportunities. Human being are born greedy and lazy, hence how much money is enough? There are a distinct difference between millionaires and average Joes'.

Millionaires are always motivated to make more money. They are always thinking of ways to increase their streams of income, business opportunities and how to further increase their wealth. Millionaires are actively involved in activities that are conducive to their wealth and are much focused.

Average Joes’, as the name suggest, are average people. We know for a fact that the middle income class is made up of average income people. Naturally, average Joes’ fall in the average income class. When everything is done on an average, you cannot expect exponential results.

You have no one to blame if you are still stuck in the same financial status. The problem lies with you. There is no problem in the industry that you are working in, the education level that you have and the people around you.

You can be attending wealth building seminars, reading books on how to build your wealth and come up with plans to increase your income streams, but you are still not making money. So what is the problem now? Well, the seminars, books and plans are correct, the only problem is you.

Becoming a millionaire is not a simple task, but there is a system and golden rules that you need to adhere. Never think that you can be a millionaire in a short time! Get rich fast schemes are scams and there is no shortcut to build your wealth! Only you can change your financial status!

Risk

As I am a risk adverse person, I will not cover on returns just yet. Risk is something that comes hand in hand with returns, unless it is a risk free asset. There are several ways of looking at risks. The various sources of risks will be examined, leading to an understanding that different types of investments are exposed to different types of risks.

Risk can be further classified into systematic risks and unsystematic risks depending on the source of the risk. Systematic risk represents risk that is common to all assets. It cannot be diversified away. On the other hand, unsystematic risk represents risk that is unique to an asset and can be diversified away.

Examples of systematic risk are interest rate risk, inflation risk, market risk, reinvestment risk and exchange rate risk. I will discuss more on reinvestment risk as the rest of them are more or less self explanatory. An investor face reinvestment risk when he may not able to reinvest the dividends, coupon receipts or other cash flows from his existing investment in order to achieve his targeted rate of return.

An example will be if an investor may wish a return of 8% over a period of 5 years. He buys a 5 year bond with a yield of 8%. However, he may not achieve a realized yield of 8% after 5 years because he may not be able to reinvest the coupon payments at 8%.

Unsystematic risk will be country risks, liquidity risk (ability to convert into cash as quickly as possible), business risk, credit risk (external indebtedness of the company to debt holders other than equity holders), industry risk and financial risk.( arises when a company incurs debt)

Be sure to asses the risk of any investment. Investment opportunity will always be there waiting for you. Conversely, losses also will be there for you if you do not asses risk and make due diligence

Guide to investment. Part 2

Before you even dive into any investment, you have to understand some of the financial jargons. You need to understand the language and you need to fully understand the concepts and thesis. At the end of the day, it’s your money we are talking about. You can avoid making losses in investments. It’s the same with a student who is sitting for an exam; the student will only pass the exam if he/she studied hard.

Let me first explain about insurance funds, unit trust, mutual funds, bond funds and cash funds first. I will cover more on stocks, shares and property in the later part. I will need you to understand the ‘simpler’ kind of investments before you go into other types of investments which require you to have more in depth knowledge. As you can see, choosing an investment is not an easy job. You will need to have a lot of patience.

In investments, you can reduce the risk and increase the returns if you make due diligence. There are a few things that you must do before you even start putting your money into any investments. You need to know, what kind of fund you are investing; what are the characteristics, what are the projected returns, who are the fund managers, what kind of industry and most importantly, at what stage the investment is at; infancy?

1) What kind of investment?
Insurance fund, unit trust, mutual funds, bond funds or cash fund.

2) What are the characteristics?
Equities? Balanced? Conservative? Geographical? Sector? Portfolio? Fixed?

3) What are the projected returns?
Guaranteed? Compounded interest?

4) Who are the fund managers?
Reputable? Credible? Net asset?

5) What kind of industry?
Technology? Life sciences? Marine time? Transport? Food? Beverage?

6) What stage?
Infancy? Booming? Adult?


These are just some of the facts that you need to know. There are other factors that you must also consider in your investment process. The guidelines here are just simple basic steps and they are meant for illustration purposes only. There are no recommendations made in this article.

Guide to investment. Part 1

I’m sure many people know that investments can grow their money. The only way to make your money work for you is by investment. I’m sure everybody knows what are shares, unit trust and mutual funds are. All these financial jargons are commonly used by financial practitioners but not for a normal person.

Some people have bad experience with investments and some have very good experience.

People with good experience will find more about investments and will invest more money so that they can meet their financial goals. Some are committed to save more money to make even more money. I will be very happy for u if you have all these kind of attitude towards investments.

People with bad experience on investment will have a negative view on investments and they usually do not believe in any kind of investments anymore. I do not blame them for their pessimism as I too will be angry if I lose my money on investment. However, I realized a pattern as to why these people lose money.

Most of the time, people who have lost a lot of money on investment will have little or no knowledge on investments.

They usually follow what their family, friends and colleagues are investing. There is no research done on what kind of investment they are into. For starters, they should know what are returns, risk and profit. One more reason is also that they have the park and pray attitude, where they park their money and hope that it will grow.

It does not hurt to ask from other people what investments are. In love, what you do not know will not hurt you but in investment and business what you do not know will hurt you a lot. Remember this; investment is made to make money, not to lose money. There are myths about investments. My advice is, in investment, it’s all calculated quantitatively, hence there are no myths to investment. And, there are no such things about luck in investment. It is pure fact finding and calculations of the indices and ratios.

System for wealth building!

As long you are still alive, you can make money. The way of making money has been changing rapidly with time. Many years ago, the word millionaire can be intimidating. People never thought that they can make millions of dollars. The reason for this is that people around the world are busy finding jobs that pay them well.

Even if you have a job that pays you $10,000, you will not become a millionaire. Becoming a millionaire is something that is so complex but if you can adopt the system for building your wealth, you can be a millionaire in no time.

The theory is the same with building a house. You know for sure that you cannot build a house without architect, engineers and labor. Same goes for building wealth. You need investments, insurance and your income. The sad thing is that people always think that building a wealth is impossible and they forget the fact that wealth can build a system.

If you are really serious about making money, you will need to make a very thorough research. You must find out what kind of investments you want, what kind of insurance and creating a multiple income streams. With all this in place, you can definitely make money.

What do you do when you do not anything about making money and you are just not the financial kind of person?

Not to worry, they are plenty of Certified Financial Analyst Certified Financial Planner, Financial advisor, brokers and many more. Get leverage with all these professionals so that you do not make a mistake of investing in the wrong investments.

These professionals are trained to create wealth. They went through gruesome years of training and studies to help people get their wealth.

OPC (OWE PEOPLE"S CONTACT)

The acronym OPM (Owe People’s Money) is commonly used nowadays. Everyone knows that OPM is a powerful tool to use when especially when you want to start your own business. Any wealth management books that you’ll ever read will have a topic on OPM or at least they mentioned OPM.

Now, let me take you one step behind. The reason for this is because it is always a good practice if you can find the source. Work backwards! Try to find the source of a problem, word, suggestion and anything. Begin with level one!

Hence, what comes before OPM? LEVERAGE!

When you can create leverage, you can minimize mistakes and increase productivity. In creating your wealth, business, career or whatever it is, you must create leverage! You can only get leverage if you do your research thoroughly and network! Loral Langemeier insist on due diligence. I on the other hand, insist on NETWORKING!

You will never know who you will meet when you network. Networking also has advertising benefit. You can also build credibility when you network. I do not get ideas on wealth management just by reading books; I do a lot of networking! This post is inspired by a new friend of mine! ( thank you by the way)

Success can be possible for anybody! When you network, you get leverage from the people that you meet. Say you are an IT guy who wants to set up your own business; you can get leverage from a guy who knows everything about marketing. This marketing guy gets leverage from his networks that are mainly from the same field or industry as him. It forms a long chain of networking. Just by leveraging your networking and contacts!

Maybe I can start a new acronym;

OPC

(OWE PEOPLE’S CONTACT) !!!!