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4 Simple Steps to Increase Your Wealth

By Kevin Purfield
Posted Monday, December 13, 2004

1. Believe you can

Before anything happens there is first a thought. Nature does not give the ability to conceive an idea without the ability to create it.

Believing you can do anything is the first step to beginning anything. There are endless possibilities available to you to create the life you desire.

2. Start a business

Start your own business and learn to be self-sufficient. As you learn to build a business you will gain greater control and understanding of the amount of money you can create.

According to the book The Millionaire Next Door self-employed people made up less than 20% of the workers in America but accounted for two thirds of the millionaires. Start your own business even if it's a part time home business.

3. Develop residual income

Residual income is money you receive even if you do not work. An example would be if you owned an apartment building. The renters pay their rent which pays the buildings expenses. Any income above the expenses can be considered residual income.

Another example of residual income would be if you owned shares of stock in a company that paid quarterly dividends. As a share holder you would receive divided payments four times per year. You do not have to do any work for them.

4. Buy things that increase in value

Many people appear to have financial wealth with their possessions. Cars, clothes, electronics gizmos, large homes. The fact is that many of those things will not be worth what was paid for them in several years.

Buying high quality investments in real estate, stocks, bonds and building your own business are ways to increase your wealth.

Many millionaires live well below their means. Many people who have high consumption life styles have little or no investments, appreciable assets, income-producing assets or private businesses.

Those people who can be defined a being wealthy get much more pleasure owning substantial amounts of appreciable assets than from displaying a high consumption life style.

About the Author
Kevin Purfield owns the Wealth System Online Resource Directory where you can find everything you need to start, run and grow a home based internet business at: (


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