So, how does one become wealthy?

Every day I have clients at my table who are millionaires. Although they are at my table for me to educate them on wealth management and passing their assets to their heirs, what they don't realize is that they educate me just as much.

I'm fascinated by the variety of ways that people have accumulated wealth. But mostly, I'm fascinated by the fact that many, if not most, have done so quietly, even systematically, over an extended period of time. The ways they have accumulated wealth are as diverse as my clients. They have invested well. They have built successful businesses, and they have systematically saved over time by living within whatever means they have had, and always, yes always, saving. It doesn't sound so exciting, but it's just plain true. The key to accumulating wealth is to live within your means.

Now that I've disappointed you, let me share a quick secret with you. Living within your means does NOT mean sacrificing your lifestyle. Because what you need to understand is that even though you absolutely have to live within you means, there is nothing stopping you from increasing your means. And increasing your means requires one very important shift in thinking: If you aren't making enough money, find ways to make money that produce residual income by working smarter, not harder! Almost every wealthy client I have discovered this at some point. The point is not to take on two jobs, or three jobs, or work 70 hours a week. The point is to find a way to leverage your time, so that you can create multiple streams of income, that feed your bank account 24 hours each and every day of the year. That's the concept that's hard for most people to comprehend. And that's the concept I'll bring to you in my next posting.

Until then,

Slim Albertson

You can always email me with questions, and I'm happy to coach you to wealth for free. That's what I do. Drop me a line at slimalbertson@yahoo.com