.: Wealth Building Top Related Articles
1). Leverage Is The Only Way To Wealth
To build any serious income you have to use leverage. You accomplish this by spending your time creating and managing levers. I’d bet that if you are creative enough, you could probably create a lever on anything that can provide an income. Let me explain this with several examples.
If you do not have an employee, you are not leveraging your time. Start leveraging your time in a tiny way with something that doesn’t require complex skills, like a dog walking service.
Article tags: saving, investing, wealth building
2). The Ultimate Tax Planning Strategy
The taxes that are withheld from paychecks amount to about 25% of your gross pay (including federal tax, state tax, social security tax and medicare tax). But these taxes that are withheld could be working for you as investments if you employ what I call the ultimate tax strategy. This tax strategy consists of how you plan to pay no taxes just like all of the large corporations.
Article tags: personal finance, tax savings, wealth building, investing
3). Smart Yearend Planning - Tax Deductions
There are three main areas we need to keep in mind as the year ends:
1. Taxes
2. Corporate formalities
3. Planning for next year
Revisit the idea of converting your 10 largest expenses.
This is an ongoing process that should be done at least twice the first year. It’s not realistic to expect you will convert all of your biggest expenses the first time around because it’s too big of a task—this is a habit needing to be developed over time.
Article tags: tax deductions, tax tips, wealth building
4). Entity Structuring
Entity structuring is the use of limited partnerships, limited liabilities, and corporations. These can help you accomplish three things:
1. Bullet-proofing your assets so that the bad guys are worse of if they try and take them away from you.
2. Slashing your taxes so that they are within single digits.
3. Protecting your privacy and building lasting wealth.
Article tags: tax deductions, tax tips, wealth building
5). Heads up on co-signing loans
In my opinion, if you co-sign a loan with a family member or a friend, you’re looking for trouble. Granted, if you want to help your child buy his first car, you may need to co-sign because the child does not have credit history yet. The danger is that if your son makes a late payment, the bank will come to you to pay it off. Be extremely judicious who you co-sign for.
Article tags: tax deductions, tax tips, wealth building
6). Five ways to increase your income.
Copyright 2006 David Brown
Here are five positive and effective ways to increase your income.
1. Do you have objects or clutter around your house which you are not using and could sell to increase your income? In today’s electronic world EBay would be a good choice to use to sell these objects. There are books which are available to assist with becoming effective with using the internet for this means or even to design a simple web page which could sell advertising.
Article tags: live, living, working, goal, wealth, financial, without, success, goal, believe, wealth building, financial success
7). How to pick the right shares
This is one of the questions that I’m asked the most and it’s an answer that I like to answer in two ways.
The more technical or objective way to answer it is to compare your performance to something concrete. For example the market average in your own country. For us here in Australia it’s the All Ordinaries index which has returned well over 40% in the last few years and has averaged over 10 percent per year over the last 25 years.
Article tags: investing, safe, shares, wealth building, stocks, strategy, selection, performance, improve
8). Parents- You can become financially successful!
Copyright 2006 David Brown
Are you struggling to pay your bills because all your money is being spent on your new God given blessing- your children?
Are you emotionally stressed because of your tight financial situation but don’t know the way out?
You are not alone. There are many parents who are in your financial situation.
It is not a surprise to learn that it can be a struggle when you read the following statistics.
Article tags: how to save money, saving money, debt, debt help, debt relief, wealth, wealth building, financial help, help with finances, money help, help with money
9). Seeds of Financial Success, Harnessing the Power of Your Mind
Use the power of your mind to achieve your goals and desires. Develop a manifesting mindset to transform your desires into physical reality.
Article tags: self-help, manifest, manifesting, manifestation, positive thinking, financial freedom, wealth building, money, power of positive thinking, mindset
10). ROI-calculating accurately
The phrase "return on investment" (ROI) is thrown around a lot, but do you know what it really means and how to calculate it?
Three ways to calculate ROI
Cash-on-cash If $20,000 is invested and it grows by $10,000, it’s a 50 percent cash-on-cash rate of return, which is great for wealth building.
Total amount of investment If you put $20,000 down for a $200,000 mortgage, the growth is happening on the $200,000, not what you originally put in.
Article tags: tax deductions, tax tips, wealth building
11). The Art, Science, and Grace of Attracting Prosperity
Attracting prosperity is part art, part science, and part grace. A prosperous business must not only accommodate but support life in all its complexity. A thriving business requires and provides resilience and continuity.
How do you go about building a thriving career or prosperous business? Here are some of the things I've learned and that I credit with supporting my own process of attracting prosperity.
Article tags: attracting prosperity, business, entrepreneur, tips, prosperous business, wealth building
12). The Four Mandatory Buckets Of Personal Finance
I have already written about the financial necessity of saving a portion of any income payment that you receive. This means that a percentage of every single source of income is set aside, marked, or tracked as money that you cannot spend. This task isn’t optional if you want to have some basic financial stability or start growing some serious wealth.
Article tags: personal finance, debt, credit cards, wealth building, managing money, investing
13). The Two Biggest Thieves In Regards To Wealth Building
The two biggest wealth thieves a person will encounter are tax deductions and lawsuits. Taxes work against you by chipping away at your wealth. These include federal income taxes (deducting up to 39% of your income), state taxes (deducting up to 9.6%), and self employment or social security (over 15.5 %.). The average American is paying 42-55% in taxes.
Article tags: tax deductions, tax tips, wealth building
14). Higher Returns With Entrepreneurial Investing
Long-term investing in the stock market can offer a passive return around 5-8% if you remain invested for 30 years; but, unfortunately, that return is before taxes and inflation. This is so low because the company founders, backers, early investors, investment bankers, etc., have removed all foreseeable profit from the company before it is ever offered to the public market.
Article tags: personal finance, investing, trading, wealth building
15). Earning Money With Affiliate Programs
You've probably heard of affiliate programs. Companies use affiliate pograms to sell their products. The most common way for making money online with affiliate programs is through posting a link on your website. When a customer clicks on that link and buys the product, you earn a commission.
There are many advantages to making money online with affiliate programs.
Article tags: internet marketing, home based business, wealth building, online business, making money online