Quick Wealth Network

My theory on wealth building?

1) Save and build a bankroll 2) Don't waste time chasing short money -- working to the bone to get that 5% raise and extra vacation (you still gotta go to work 5 days a week and if you slack they'll pretend they never knew you) 3) Don't be a fake stunna -- buying bling that'll depreciate 4) Take calculated risks -- this goes back to #1, be able to sustain a few hits to last and beat the game in the long run 5) Have at least 2 contingency plans -- probability of 3 unlikely events occuring is vanishingly small Thoughts?

Public Comments

1. and be consistent.
2. did u read 'the richest man in babylon' yet? similar principles. he said save 10% of every paycheck before u even pay bills. that way u will always be getting ahead. what about napoleon hill's bestselling 'think and grow rich'? its ideas were, everything begins with a thought. u think about getting up to go to work... and u set a plan to get that done.... set alarm clock, shave (if a guy i mean), brush teeth, and drive to work. accomplished! everything begins with a thought. and if we have enough passion and faith (religious or otherwise), that we will continue to do steps on our plan for that thought, it will happen, period.
3. well, i work myself to the bone. I have 2 full time jobs but one paycheck goes to bills and food and the other goes entirely in the bank. we are saving up to buy a house. you're right that 5% raise is sh*t cause it's all about saving, in the long run.
4. There's more than one way to do things. Your way sounds reasonable. Remember you can tweak anything. In fact you should be flexible and change your plans as your needs change.
5. It is not how much you make but how much you keep. Many doctors have a 5 digit income but have a less than 4 digit saving.
6. There are three strategies to wealth building. They outline all of the possible steps/options one can take to guard and govern one's finances today. Strategy A: Reduce Expenses A1 – Run an Economically Productive Household A2 – Avoid Overspending and Overpaying A3 – Reduce Consumer Debt A4 – Reduce Taxes Strategy B: Reduce Liabilities B1 – Utilize Insurance B2 – Implement Retirement Plan B3 – Create Emergency Cash Cushion B4 – Create Will / Trust for Heirs B5 – Reduce or Remove all Debt B6 – Family Planning and Goal Setting Strategy C: Increase Income / Net Worth C1 – Own / Partner in Businesses C2 – Stock Market C3 – Real Estate C4 – Career or “W-2” job Be blessed,