WEALTH
Wealth principles
You have heard about the principle to spend less than you earn and invest the difference as a steppingstone to wealth, but what if your outflow is larger than your inflow?
We grow up not learning much about finical advice in school and in general are rather conditioned to behave average versus outstanding.
The most important focus point I can provide you with, is that wealth creation isn’t intuitive but rather counter intuitive in nature, and as such discipline is necessary to follow principle based rules to create the desired riches.
To achieve ones goal the principle of “mind creates matter “is imperative so ones focus needs to be on ones desired outcome and can only be achieved if consistently revisited, measured, evaluated and adjusted to create the valuable outcome.
So while mainstream behavior would filling out elaborate excel sheets of detailed expenses which focuses in majority on the outflow, the true principle is to consistently increase ones inflow with the goal of being able to save 40% of one’s monthly income stream and to reinvest this capital.
Why 40%-well that’s what the top 1% earners do and they own the majority of all the wealth, so they must be doing something right.
Demystified
Another misconception is the use of proper tools.
While common knowledge calls debt and Credit Cards to be the root of all evil, nothing could be further from the truth.
Debt is consistently used by large companies as a sensible expansion tool for growth if used wisely.
Credit cards provide a free detailed measurement tool of your outflow and can also create up to 3% of cash back returns which at times is more than your savings accounts. They also provide security and ease of use. They do require discipline in their application.
In short don’t listen to street wisdom but rather follow principles as ultimate truths to reach your goals and you don’t need to wait 30 years for compound interest to kick in or penny pinch, but rather measure detailed income flow and consistently focus on how to increase these multiple sources of new money.
Grow your monthly inflow being aware that anything that is alive is consistently changing and expanding and never lose focus on how to reach your goal of 40% savings from your income and you will join that one percent of truly wealthy people even if this means temporary to be a bit more frugal while exploiting massive growth opportunities with your sleeves up.
All published information represents the opinion and analysis of Mr Korbinian Koller & his partners, based on data available to him, at the time of writing. Mr. Koller’s opinions are his own and are not a recommendation or an offer to buy or sell securities. Mr. Koller is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations. As trading and investing in any financial markets may involve serious risk of loss, Mr. Koller recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications.
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