In The Quest To Create Wealth. Try This For Starters.
- Date: 2008-09-03 - Word Count: 414
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Well, for those not born into riches, the first thing they do is they start out on the road to riches being poor. I know this seems rather obvious but, like the rest of us, the self made rich people of the world had to start somewhere. It has always been a case of us and them or so it seems.
Of course one of the problems confounding learning how to become rich is that people are looking at the end product, not the process, when it comes to riches. This is called the one eyed greed factor. When all we can see is the million dollars at the ed of the tunnel we tend to avoid thinking about what it is going to take to get it.
So, just how do you go about getting rich? The first common denominator I found is that every rich person is in Business. So that is the first thing. Just the fact that if you own a business you instantly start living out of money that has yet to be taxed is a huge advantage on its own
And this leads to the second common denominator. The tax system favors anyone who is willing to own a business. There are certain rules and regulations, to be sure, but if you are willing the financial rewards are huge. The system will, in effect, subsidize you hugely if you own a business.
All the assets in a business get depreciated every year. This is classed as a cost to you and you only pay tax on profit, so all your business assets work for you, all year round, to create wealth.While they do have to be replaced when they wear out this is not really an issue because the replacement cost is also a tax advantages
The third thing rich people do, to get rich, is they protect their wealth. They have top grade insurance which pays well, so their risk (loss) is always nil. They can not go backwards if they try.
This is just a few things which create wealth, of a vast array of little tricks which I am constantly discovering. But, the first, and most important thing seems to be to go into business. If I was to start again I would simply be looking for a free start up business with a high profit and do that. You usually don't have to look very far to find one. Sometimes they are just around the next bend.
Of course one of the problems confounding learning how to become rich is that people are looking at the end product, not the process, when it comes to riches. This is called the one eyed greed factor. When all we can see is the million dollars at the ed of the tunnel we tend to avoid thinking about what it is going to take to get it.
So, just how do you go about getting rich? The first common denominator I found is that every rich person is in Business. So that is the first thing. Just the fact that if you own a business you instantly start living out of money that has yet to be taxed is a huge advantage on its own
And this leads to the second common denominator. The tax system favors anyone who is willing to own a business. There are certain rules and regulations, to be sure, but if you are willing the financial rewards are huge. The system will, in effect, subsidize you hugely if you own a business.
All the assets in a business get depreciated every year. This is classed as a cost to you and you only pay tax on profit, so all your business assets work for you, all year round, to create wealth.While they do have to be replaced when they wear out this is not really an issue because the replacement cost is also a tax advantages
The third thing rich people do, to get rich, is they protect their wealth. They have top grade insurance which pays well, so their risk (loss) is always nil. They can not go backwards if they try.
This is just a few things which create wealth, of a vast array of little tricks which I am constantly discovering. But, the first, and most important thing seems to be to go into business. If I was to start again I would simply be looking for a free start up business with a high profit and do that. You usually don't have to look very far to find one. Sometimes they are just around the next bend.
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Do you want to learn more about how to succeed in becoming wealthy ways to make money?To download Your Free Copy of my latest eBook, click here"Easy Profits With eBay Wealth Creation" "www.secretsofwealthsuccess.com" Keith Roberts has been in the field of wealth creation for nearly ten years and has written 7 books Your Article Search Directory : Find in Articles
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