Monday, December 2, 2019

How can you create wealth?

What is wealth? Is it a salary? Is it an income? From an economics perspective it is all things that have a monetary or exchange value, as well as anything that has utility and is capable of being appropriated or exchanged. Many people wonder what the best way to attain wealth. Well, here are some ways to acquire it:

1.       Have a sound framework on what are your interests.
2.       Own a few high quality business
3.       Use other people’s money prudently
4.       Have a long term investment strategy

They are other types of wealth such as health, good family and true friends. They don’t have a monitory price but just as valuable. To maintain or obtain those intangibles, keep the following in mind:

1.       Time is valuable, use it wisely
2.       Integrity is everything
3.       Physical presence carries more weight than a phone call or an email
4.       Be humane; treat others how you want to be treated for bad karma will visit you.