How to Get Rich from Nothing

12 Wealth Building Strategies

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1. Invest

Allow compound interest to build your wealth.

My advice?

- Invest automatically
- Invest in index funds
- Avoid higher-risk investments
- Choose low-cost investment options

There never is the “perfect” time to invest.

The main thing is to start today.

2. Build Multiple Income Streams

The average millionaire has 7 income streams.

They could include:

- Primary Job
- Rental income
- Interest and dividends
- Real Estate Investment Trusts

Don't put all your eggs in 1 basket.

Diversify your income today.

3. Build an Emergency Fund

Be prepared for unexpected expenses.

Surprise expenses could include:

- A roof replacement
- Medical emergencies
- A broken car gearbox

Avoid high-interest credit cards to pay for emergencies.

Use your emergency fund.

4. Pay Yourself First

How to pay yourself first:

- Deposit paycheck
- Automate investments first
- Anything left over goes to bills

The process:

- Determine how much to invest
- Determine investment frequency
- Determine where it should be invested

Use money to make money.

5. Become the Household CFO

Assign a purpose to every dollar.

Some examples:

- 529 plans
- Business accounts
- Retirement accounts
- Emergency savings fund
- Joint / Individual accounts

Want to be like the pros?

Automate the process.

6. Use the System in your Favor

The wealthy use:

- Tax deductions
- Tax advantages
- Personal liability protection

Know how to structure your business:

- S Corp.
- Limited Liability Co.
- Limited Liability Partnership, etc.

Build a lasting empire today.

7. Adopt a Growth Mindset

The 2 types of mindset:

- Growth
- Fixed

Growth mindset:

- Build wealth
- Learn new skills
- Build relationships

Fixed mindset:

- I can’t do this
- I’m going to fail
- This will take me forever

To change your reality, change your mentality.

8. Find a Quality Mentor

86% of Millionaires attribute their success to a mentor.

Mentors offer you guidance in:

- Your financial life
- Your personal life
- Your professional life

Find these successful people and learn from them.

Chances are, you’ll go where they go.

9. Choose your Friends Carefully

Think about the 5 closest people you hang out with.

Soon, you’ll realize that:

- You think the same thoughts
- You have the same goals
- You offer similar advice

People inspire you, or they drain you.

Choose them carefully.

10. Set a POA [Plan of Action]

Millionaires monitor their goals daily.

They conquer their goals by:

- Developing a specific POA
- Writing down their goals
- Reviewing their goals

When was the last time you reviewed your goals?

11. Don’t Procrastinate

Tips to kill procrastination:

- Break down large tasks
- Celebrate the small victories
- Write down your future goals
- Find an accountability partner

There is no such thing as the perfect time.

Use today to build the stepping stone for your future.

12. Steer Clear of Debt

Getting out of debt is:

- 20% knowledge
- 80% a change in habit

Changing your financial habits include:

- Earning more
- Spending less
- Investing more

Let's defeat debt NOW.

Start building wealth today.

Want to level up and improve your financial life?

Then check out The Millennial Money Woman blog today.

With The MMW blog, you will find:

- How to grow wealth
- The latest financial tips
- How to maintain wealth

Click the link below https://themillennialmoneywoman.com/