The first steps to wealth are usually the hardest because a person has to come to grips with why he wants to become wealthy and what kind of wealth they want. Some people have never had wealth and became wealthy in material things; then some people have had many material things inherited from their families and gave it all away to become wealthy in personal values. SO the first step you need to decide is what do you want you to purpose in life to be and how will wealth fit that purpose. If you’re going to be an owner of a large estate with a big mansion, and you have no money, of course, you will need to have a purpose in life that will exchange your talents and skills for the things you want in some service or product that will be of equal value to the things you want. On the other hand, if you have been born into a wealthy family and you wish to use your wealth to make others happy, then you can choose the life of a philanthropist or a mercenary that uses their money to raise other to a better lifestyle. After you have selected your primary purpose in life, then you can decide if you need to have material wealth and how much or more personal wealth that is non-material and develops goals according to those goals. Let whatever kind of wealth you need to be guided by your purpose in life.
Should you have a Wealth Advisor?
Having a wealth advisor is important if you are going to be trading stocks, bonds, property, art, and other investable goods which are traded or sold in the international market. The more competitive the market you will be investing, the more valuable it will be to have a trustworthy wealth advisor to speak to before you decide on investment. Often a professional wealth advisor will have much more knowledge in certain aspects of investing that will help you stay within safe investing boundaries to increase your wealth and not lose it.
Should I have different Kinds of Investments?
Just as variety is a perfect ingredient to have in life, so are multiple suitable investments healthy for developing stability in your portfolio of investable goods. For example, you may have stocks, bonds, and mutual funds; but may choose to branch out into owning property or a small company that brings in goods from another country as a side investment. You may have financial stocks that are performing well, but you would like to start trading in foreign currencies.
Does wealth have to be in the form Of money?
Wealth can be understood from different perspectives as beauty is considered to a judgment from a subjective view, so is wealth frequently found in many different ways. For one person to have a family, health, and friends, a good job and a right name is immeasurably more valuable than any monetary wealth. On the other hand, some people have a desire to accumulate money they can put in the bank and seem not to be satisfied with an average amount but are always putting their money to work to make more. You will have to make a decision for yourself what wealth means to you and make your decisions accordingly.
Can Everyone Handle Wealth Equally Well?
Not all people handle wealth the same. For example, we witness daily people who win big in a lottery yet in a few years they have given it all away and not managed it well. On the other hand, some people have begun life with very few things and started a paper route, which led to a small computer shop, then they purchased a computer, then opened a software business and became billionaires and owners of a basketball franchise. Thru many changes in life, a person begins to experience how they handle money and if they can take responsibility for their own as well as other money.
Can Wealth Make you Happy?
Wealth can give you partial happiness. I don’t know of any person who doesn’t have enough money to pay their rent, buy food, and pay for a ticket to ride a bus to work, which is happy. A certain amount of money is necessary for most people who live in the modern world since it is the way the world exchanges goods and services. Whether wealth can give real happiness to everyone, in the same way, is debatable, but it is a useful tool for temporary happiness. Can money buy happiness? If joy is drugs and other passing pleasures, then yes.
On the other hand, true happiness and knowing you are doing the best you can and making people happy by your life is something only a person can do for themselves and cannot be bought. Most of the happiness people acquire thru wealth is usually converted to fulfilling oneself but later after self-fulfillment is reached money becomes a means to give back to society in helpful manners. Many billionaires today are giving away their wealth to major causes to make the life a better place, but keeping a small portion to make their families and dependents live comfortably.
Is There a Limit to How Wealthy You Can Become?
You can choose to accumulate as much money as you believe you need to fulfill your dreams. For example, Apple® computer began in a small garage over twenty years ago and now has grown to a Trillion Dollar business. This kind of wealth is rare, but it is possible over time, and an equal amount of services is given in exchange for that money you want to receive. No one becomes wealthy, indeed by stealing or any illegal activity where a person causes harm or dishonor to another person to fulfill their desire for wealth. There have been many people who make it their lives work to do criminal things to acquire wealth, but most often they are stopped by some kind of law enforcement and are prosecuted.