10 Simple Tips For Attaining Wealth

What with the millions of words printed every day about "How To Achieve Success," why aren't there more new millionaires.

Basically, it's simply because the people reading this "How-To" information don't understand what they read, or else just don't have the drive it takes to put what they've read into action. In truth, it would seem that everyone wants to "find out how to become rich," but the number of people with the drive it takes to "work a plan," is few and far between.

The Basics to Getting Rich can be stated simply as follows:

1. You must control your investment. This is the key to building a fortune from small capital. You have to have the ability and knowledge to make the right moves at the right time, and above all, the innate talent it takes to always land on your feet and never be wiped out, regardless of the setbacks you may encounter.

2. You must know how and where to buy for next to nothing - or produce a product from scratch - and sell at a tremendous profit. With this ability, you can start with $100 or less, and sell it to someone else for much more than you paid for it. Then do it again, and keep on doing it until you have enough money to make substantial investments in other area where your money will grow and prosper.

3. You must buy things that appreciate in value. In other words, learn to buy things that will grow in value as time goes on. Things such as collectibles, land, precious metals and stones. Think of the multiplication factor: You pay $10 for a copyright, sell 500 copies and you're off to a small fortune.

4. You've got to be choosy. Buy the original or pick a limited field. For instance, if you buy written material, buy form the author; or if you're into stamps or coins, work with just one country or type of coins/stamps.

5. You must become an expert in your field of selling - know all there is to know about it. It takes time, effort, and energy, but the financial rewards are worth it.

6. You must know how to work the tax shelters. In the confiscatory tax economy we operate in today, anyone attempting to make important money has to operate with every tax break he can get. There are many of them, and they can be applied in different ways. Make friends with a good tax accountant; he'll be able to give you many angles that you've probably never heard of. Be sure you take every advantage of capital gains, investment credits, take part of your rent or house payment as an office expense, as well as your car - get all you can. It's legal, and it's necessary if you're going to build your capital.

7. You have to set goals and dedicate yourself to attaining those goals. In just about any buy/sell program, you can set a rate of say 20% net profit on each transaction, and work a five-time-a-year turnover. This will double your capital each year. Now the net profit means just that - what is yours after all expenses and taxes are paid - so you'll have to get about 35 to 40% markup on each cycle.

If you've done your homework and are really an expert in your field, you'll often be able to make profits of 200% and more on a single transaction, because real buys will always show up for the person with cash in hand. If you set a goal such as this, and follow this system starting with $100, in 10-years you'll have over $50,000 in cash or it's equivalent.

8. You have to learn to exercise patience. This is the greatest attribute of a good hunter. In your field you'll be looking for bargains that can quickly be resold for a substantial profit. You've got to learn the sources of the items you want to sell, how to spot the bargains, and then have the persistence to allow your investment to pay off for you.

9. You have to learn what to do with your riches. When your capital has grown beyond the needs of your operation, put it to work. Get it into other investments that will produce more capital and even more income. Pyramiding your investments will bring you all the money you can use.

10. You have to learn to keep your mouth shut! The man who has found a method of making money, who understands what it can mean, keeps his mouth shut about it. That's why it's so ridiculous to assume that anyone would sell you a sure thing gambling system for a couple of dollars. If it was a sure thing, he'd guard it with his life. The thing is, keep your mouth shut and you'll save yourself a lot of grief as well as competition. 11. You must find a way to make what you're doing different or unique so that people will find a reason to use you instead of your competitors.

If this sounds like a lot of oversimplified hogwash to you, then you're still missing the boat. Most people are so wrapped up in their own efforts - their own small little worlds - that they refuse to "picture and visualize" precisely how an idea or a program can or could be worked to amass a fortune for themselves. Yet these same people, when the mood hits them, will deal with the expert, buy from him, and pay him for the knowledge they refuse to understand or believe. The opportunity is there; all it needs is someone to grab it and run with it!

Copyright 2004 by DeAnna Spencer

This article may be redistributed freely on the Internet as long as the resource box remains intact.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Learn tips to help grow your small business.
Make the blog, Learn Small Business, a part of your daily reading. Visithttp://www.learnsmallbusiness.com for tips and articles pertiaining to your business.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

In The News:

The faces of success  University of Montevallo News
Tiger 4-Man a Success | News, Sports, Jobs  Martins Ferry Times Leader
Midweek success for Heza Gentleman  Tumut and Adelong Times
Federal grant helps with student success  Illinois State University News

Education Leads To A Healthier And Happier Life

Do you feel you lead a healthy and happy life?... Read More

The Ultimate Formula for Success

Why is true success so rare?Why does research show that... Read More

Reach Your Goals - Make A Game Out Of It

Make a game out of reaching your goals Go to... Read More

Chinese Gooseberries and Oprah?

Oprah and Harpo Productions, consistently reap awe-inspiring progress and record-breaking... Read More

Awaken to Something New in Your Life: Conscious Change

What do we want most from life? Certainly, we all... Read More

Enterprise Is Better than Ease

If we are involved in a project, how hard should... Read More

How To Improve Communications With Those Who Were Difficult To Communicate With In The Past

You talked but didn't get a response. You talked but... Read More

Top 10 Secrets to Success

Much has been researched, written and taught about success. One... Read More

Number One Killer Of Could-Have-Been Success Stories

Fear.Everything in this world has its opposite.Good has bad.Optimism has... Read More

How Important is Your Lemonade Stand?

When my neighbor's child was about 8, he decided that... Read More

Risking For Success

Everything we do in life involves risk. There's no growth... Read More

No Shortcut To Success

Sometimes short cuts are not worth taking. They may bring... Read More

Changing Your Luck

In this week's New Age Notebook, I am going to... Read More

3 Basic Steps to Success in Anything

Since belief always precedes action, simply changing your beliefs can... Read More

Measure Effort To Achieve Success!

Let's say you're moving forward in your efforts to achieve... Read More

Super Achievers Have: Talent, Skill, Patience, and Lady Luck!

As a golfer and coach, I've been thrilled to watch... Read More

7 Tips for Success

In this article we mention 7 tips for your success.... Read More

Success Begins and Ends With You

Success is a word that is much used in our... Read More

Winning: Defining It - Achieving It

If you ask most people whether they would like to... Read More

Moving to the Other Side of Box

Few books have impacted my perspective on human psychologically and... Read More

What Is Your Legacy of Success?

Success! Easy to talk about, but difficult to achieve. Or... Read More

How the Subconscious Mind can Accelerate Self Improvement and Success

Just how powerful is the Subconscious Mind and how can... Read More

17 Extraordinary Human Capacities

People have a tremendous capacity for outstanding achievement. There are... Read More

Avoid The Thirteen Habits of a Failure

Jim Rohn, the success guru and mentor, said, "Failure is... Read More

Can You Think Your Way To Riches?

I am going to tell you something you already know... Read More