You are building wealth now - so you are finally on your way. Congratulations, doesn't it feel great! After all the planning you've started to save money and invest it - into your own business, the stock market, or whatever you chose as the right thing for you.
From this point onwards, it's all about sticking to your plan and staying the course. Of course, now that you are building wealth and doing in practice what used to be only ideas in your brain, you may be finding even better ideas to save and invest money. Adjust your plan when you learn more, if this gets you to your first destination - yes that's the million dollars - faster or more safely. Also, if you notice that some parts of your plan were not realistic, modify or replace them with something that works better for you. If you are temporary challenges in this or that area, keep pounding away and don't give up - you will prevail.
Besides just continuing to save and invest, you will also need to learn to preserve your wealth in other ways. When you wealth grows, at some point others start to notice, and you will run into scams that aim at parting your from your money. Sometimes a very well-planned scam may look like a really exceptional opportunity. Our recommendation is: stick to the knitting. We will explain more about our thoughts in this and show you a few real life examples in order to demonstrate our points.
Another risk for your wealth building is money blindness. As your assets grow and you get used to handling larger amounts of money, you may start losing sight of the importance keep saving and investing wisely. Somehow it all feels so automatic and natural that you start to slip from your plan little by little. This may have disastrous consequences - so we'll show you how to avoid it.
Besides damage that you can inflict on yourself, the external circumstances can sometimes cause nasty surprises. Companies can go unexpectedly bankrupt - think Enron - or real estate assets can become unusable due to natural disasters - you haven't forgotten hurricane Katrina yet, have you? Luckily there are great ways to protect you against such external circumstances. We'll tell you how.
If everything goes well - or at least most things go well enough - and you stay the course, you will soon start to taking note of the miracle of compound interest. Yes, it's like a magic wand that gets your from the world of building wealth to the world of building a real fortune! Or - in a bit more practical terms -like rolling a snowball. You start with something very small and humble, but something that grows at an accelerating pace. You just keep rolling it, and it soon gets so large that you can hardly believe how little you started with. Compound interest is the secret ingredient that makes possible the seemingly impossible, but only if you allow enough time for it to work its magic. We'll show you the power and practical implications of compound interest and examples of the astonishing results it can produce for you.