When it comes to building wealth, there are no shortcuts or get rich schemes.
Success comes to those that adequately plan and carry out with discipline. Here are 5 steps that you can use to grow your wealth investment portfolio. Please use these steps based on your own risk assessment and doing key research on the right investment tools are important for your personal wealth building plan. Planning is an essential part of acquiring wealth goals.
The first step is using creativity. Find multiple resources that will keep your money flow active. Find 3 to 5 ways that you can generate a profit that will come to you in increasing quantities continuously.
The second step is to focus on building assets with your continuous stream of income. Take the money that you are generating and re-invest it in other tools that will increase the profits that you have accumulated. There are plenty of tools to research, such as, us stocks, foreign stocks, reit’s, and cd’s. Focus on locating safe investments that will produce a high return on investments.
The third step is to always stay active. Never take your eye off of your investment portfolio and how it is performing. If you have hired a financial advisor, make sure that you are monitoring their performance regularly. Never invest your money with someone and look the other way expecting them to create magic. If you are not getting the results that keep you aligned with your plan it is time for an exit strategy. Find another financial professional that will get the job done.
The fourth step is to save profits so that if another investment opportunity presents itself, you are positioned to take advantage of it. You must always be researching opportunities that will add value to your portfolio. Research is an important step that many people miss. How many times have you heard a story about a friend presenting a get rich quick investment opportunity to others without doing proper research? In this scenario, all the parties involved usually end of losing their money because they invested on emotion instead of solid research.
The fifth step would be to plan when to exit an investment opportunity. Set profit target and loss goals for each investment opportunity and use strict discipline to adhere to them. Profit target goals will allow you to set up a system of tracking your results until you have a consistent and repeatable wealth building success plan in place. Once you have created a wealth building plan that meets your risk assessment needs and is continually bringing you the results that you have planned for, then you are on your way to financial freedom.
About Author: Cortence Baptiste’s passion is to educate others on how to attain success in making their thoughts and dreams a true reality. She has over 20 years of successful corporate sales and financial broker experience working with companies such as Century 21 Realty, IBM, Ingtram Micro Corporation and UBS Financial to name a few. Her sales skills and hard work ethic enabled her to exceed any sales goal that I was given. If you are ready to change your life, contact her today for our free 30 minute initial coaching session. You are one step away from making your thoughts and dreams a true reality.
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