Financial Coach and women and money author Camille Gaines explains Strategies for Wealth That Don’t Take Decades Most people think wealth happens from investing in stocks. While investing in stocks long term can build wealth, it can take a few decades. Here are 10 strategies for wealth that happen faster. You can see which of these strategies are options for you based on your age, skills and situation in life. 1. You have a high paying career. This method can happen sooner at startups. The key is to save a large percentage of your earnings and invest it wisely. 2. You get paid large bonuses. Depending on the size of your bonus, this can happen in one big bonus. . 3. You research and understand market cycles and invest accordingly. This can be applied to almost any type of investment, including real estate, stocks, bonds or commodities. 4. You invest in a company that does well. You may become involved with the management of this company. 5. You buy a company, run it profitably, and sell it. The wealth may happen while you’re running the company. But there’s a good chance it will happen from the sale if it is a well run, profitable company. 6. You buy real estate at value prices. The value then increases. This can take a few years, if not a decade or two unless you catch the market cycle right. . 7. You build your own business and sell it. 8. You invent a product that you are able to patent. 9. You create an intellectual product from your knowledge that you are able to sell or license. Each of these strategies for wealth require taking responsibility for the creation and sustainability of the resulting wealth accumulation.
This is financial education only and is not to be taken as personal financial advice since everyone’s situation is different. Learn personal finance and investing basics so you can embrace and lead your wealth with confidence!
