Anthony Keane shares in the Sunday Mail on Aug 28 2023 the 7 keys to getting rich - slowly!
- Become an Investor - invest in real estate, property, your own business . Begin early - as time and compound interest is a magic source in wealth creation
- Leverage your investment with good tax effective debt - use other peoples money - where the interest you pay will be covered by the income earned from your investments and tax deductions - (make sure you have a great accountant, financial and mortgage broker who work together to maximise your opportunity
- Buy Property - it tends to double every 10-15 years - and easy to borrow against it at lowest interest rates
- Buy a business/businesses that you understand - most billionaires started with a business idea that worked - after many had failed before striking gold
- Diversify into other assets
- Seek passive income - where you earn income without having to work - such as dividends or rents
- Plan - write down your plan - and monitor your progress Don a regular basis
The IK formula steps simplified
Make sure that more money comes in than goes out on a monthly basis - and with that surplus
Buy low , Sell high with other peoples money - and do it regularly.
Don’t be afraid to take risks and fail until you succeed !
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