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6 Steps to Building Wealth

Building wealth is a subject that is often talked about, but in certain communities the how-to is never discussed. I would like to reveal to you the game of building wealth. Yes, it is a game, you must have fun in doing this.

This is a compact version of the wealth game and it works no matter who you are and where you find yourself along the socio-economic backdrop of our culture.

1. Capitalize on opportunity: Opportunity to grow economically is around each of us every day. Most opportunities are missed for two reasons; (1) lack of identifying the opportunity and (2) the lack of knowing what to do when the opportunity avails itself.

2. Familiarize yourself with the four asset classes: business, real estate, paper assets (i.e. securities, debt, etc.) and commodities (i.e. silver, gold, rice, etc.)

3. Select which of these asset classes you should invest in by doing research. Although profit can be derived from each asset class, you must determine which is the best asset class to invest in at this time.

4. Once profit in established from the asset class investment, split the invest in three areas: (1) pay down existing debt (2) put money away for retirement and (3) invest in more asset classes in order to produce more wealth.

5. Read, read, read! There is a wealth of information out here. It is imperative to read to understand or get an idea of historical trends of a particular asset class.

6. Teach your children the previously stated five steps. Not only will you create wealth for your family, but the next generation will benefit from your experience and knowledge.

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About Frederick Towles

Frederick Towles is an entrepreneur, author and professional coach on personal finance, recognizing, seizing and leveraging opportunities of all kinds. Frederick founded The Towles Group Inc. to address issues that relate to small businesses and individuals – accounting, taxation, asset protection, financial compliance, wealth creation, debt management and business management. He also founded Unlimited Expectations Inc. which provides tools for individuals to assist them in the areas of opportunity recognition, leadership and personal finance. Through the tools and services offered by these companies people are positioned to operate their lives and their businesses at optimal capacity.

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