The facts are that 99% of Australian’s wealth plans are fundamentally flawed and here’s why:
Most of us don’t focus on creating multiple streams of income and then use these streams to create passive cash-flow.
Instead many people only have one primary source of income, which limits their total income,m choices and lifestyle. Life’s too short for you to fall into that trap.
Many people have only one source of income…their JOB!
Sources of income come from the asset classes that we invest in and focus on. Asset classes and income streams include but are not limited to:
- Managed Investments
- Internet Marketing
Remember we are creating multiple streams of income to create passive cash-flow.
You may find that your investment portfolio in the beginning is skewed to a certain asset class, say property. However as you build your equity, the profits you make will be invested into more property, but also some shares or managed investments.
Your wealth creation strategies will also depend on the time frame of achieving financial objectives. Should you wish to be financially free within five years from now then the strategies you would adopt would be more active than if your desired time frame was ten years.
Your investments will also depend on the breadth of your knowledge in a particular market. For instance you may have heard of many share market strategies but at the moment it is “double dutch” and you will need to improve your financial education in that regard.
It is important to remember that as you are increasing your wealth you want to ensure that it remains in your family for generations and cannot be taken from you. Before embarking on any of the following strategies please become familiar with asset protection to preserve your assets and Anchor your Wealth.