My Wealth Desire

Wealth Building Strategies & Steps to Financial Success

October 9, 2014
by Wealth Desire
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Amazing Reasons to Start Your Own Business

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Successful People Who Started Their Own Business

Successful People Who Started Their Own Business

Starting your own business might be the answer for your problems. Do you want to live like the luxurious life of what successful people do? Billionaires like Bill Gates, Mark Cuban, Mark Zuckerberg, Larry Ellison, Richard Branson etc. are the living proof that they become wealthy because of their own business.

Setting up and managing business is not for all. Many of us still preferred to work for someone. Don’t get me wrong about this; I know most of these types of people love to have security.

Employees or working people don’t want to gamble their love for freedom. They are contented to live pay-check to pay-check. They love to get benefits from their company.

However, I am admired those people who step out from their comfort zone to seek their freedom and passion. These entrepreneurs quit their jobs to start their own business.

Entrepreneurs are risk players. They don’t mind the risk involved in leaving a secure job. They are not afraid to conquer the uncertain of doing business.


Entrepreneurs are not contented to follow what their supervisors or managers tell them to do. They believe on their faith, the faith to do business without somebody dictating them.

5 Great Reasons to Start your Own Company

If you want to quit your job or get out from rat race, building your own company is the solution. To know why, find out here the amazing reasons.

  • To have flexible time

Being an entrepreneur, you have the control of the most precious wealth on earth. You can decide what time you will visit your business or set a meeting with your staffs.

You have the flexible time when you will get up from your bed. The choice is yours to decide your time preference

Entrepreneur who can meet his staff in his preferred time

Entrepreneur who can meet his staff in his preferred time

.

Do you experience begging from your boss to allow you to take a leave or a short vacation?

Imagine, you can visit your family or love ones any time without getting approval for your leave application or asking permission from your boss.

  • To earn more income

If you have a dream to create wealth while you are young, you need to have a bigger income. Earning higher income while maintaining your low cost of living will absolutely achieve this dream.

Due to the desire to increase income, many people decided to venture into business.

During the honeymoon stage of the business, the income or revenue is still small. However, as the business growing, the income becomes bigger.

In business, your potential revenues or income is higher and even unlimited. You as the owner you can control how much you earn either small or big. Not like if you are an ordinary employee, your income is limited.

  • To have a Priceless Freedom

Having a freedom is like winning a jackpot prize. In fact, freedom is a priceless state. There is no harm or bad about achieving financial and personal freedom.

Most of us want to quit our job in order to be our own boss. We desire to be our own business. It is because we believe that being an entrepreneur or having business can help us reach freedom faster.

Start your Own Company now to have freedom to enjoy this paradise

Start your Own Company now to have freedom to enjoy this paradise

It is true that the burning desire of every aspiring entrepreneur is not merely to be a boss but the precious freedom.

Being your own boss, you have also the freedom to choose your work place. Many modern entrepreneurs chose to have his/her office and work place in the comfort of his/her own home.

They can monitor their business through on line communication, correspondence, email and telephone.

Online and internet entrepreneurs are the new brand of businessmen and businesswomen. They are working most of the time at their home office or at remote places. They can work even they are on vacation.

  • To Build Wealth and Legacy

One of the safest ways to build wealth is through having a business. Most of the wealthiest persons in the world have their own business.

Bill Gates built Microsoft to be one of the great global companies. He has also one holding company that making him richer every second or minute. Cascade Investment LLC is the real secret why Bill Gates remains the richest American man and the world’s wealthiest person.

Carlos Slim Helu has plenty of businesses and conglomerates. He builds his fortune through his businesses. He will not accumulate $81.6 billion net worth (as of October 2014) without his conglomerate or various corporations.

Billionaires Who Build Wealth Through Business

Billionaires Who Build Wealth Through Business

Like these two guys, I am positive that through setting up your own business can absolutely build your own fortune that you can pass on to your children.

You can transfer your wealth or your business not only to your children but also to your grandchildren or to the next generations.

  • To have a sense of pride

Running your own business can boost your confidence and pride. You develop a high sense of pride with your own establishment.

Your company is the outcome of your hard work, creativity, dedication and good customers/employees relationship. You then become proud of the success of your enterprise.

You gain a sense of pride because you create jobs, you help other people and you pay taxes to the government. You become fulfilled because you earn out from your passion and being a responsible citizens as well.

Being Your Own Boss you can afford this properties

Being Your Own Boss you can afford this properties

Entrepreneurs are happy to do what they love to do. They are delighted to work without someone telling them what to do.

Indeed, as a businessperson, you became satisfied with your life and accomplishments because it is the realization of your dream.

Conclusions

Starting your own business or company will change your life positively. At the start of your business it requires too much hard work, planning, marketing, capital and time. However, the rewards that you will reap from your establishment are really worth it.

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Photo Credit to the following pictures: Photo 1, Photo 2, Photo 3, Photo 4 & Photo 5

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October 2, 2014
by Wealth Desire
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Progress of My Debt Free Journey

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Financially Free Life

Financially Free Life

Absolutely, debt free life can be achieved by anybody. People with determination and persuasion to pay off debt are amazing. For me, this is a big challenge to have a better family financial future.

To be financially free is a priceless state. Once you pay off your debt, you are worry free from your financial obligation, creditors and lenders.

Financial planning, budgeting, discipline and lifestyle are the few factors that will help us improve our no liability journey. I am sure that if we are equipped with these, we can easily achieve our financial independence.

Updates for My Debt Free Journey

I will humbly share here my progress towards my commitment to have a financial freedom and no liability living.

I am grateful and proud to say that we already full paid our home loan just this end of July 2014. This is our small house. Our journey is not a short cut one. It took us six years continuously paying the monthly amortization.

Our car loan was also paid off last May 2012. Presently, my car is still in good condition and I am using it every day. What I only spend now is for its maintenance and fuel.

Pending Financial Liability

We are still paying our lot property investment. There is one and a half more years to pay it fully. We purchased the property in a gated community 10 minutes away from the crowded city.

We are planning to pay out this property within one year though we don’t have plan yet to build a house in this lot.

We have also a condominium unit that we bought in pre-selling. The unit is not yet turned over to us. We are also planning to sell this unit very soon.

The money from the condo unit will be used as a capital for another business ventures in the future. As much as possible we are now avoiding bad debt like this.

Paying off Home Loan

Paying off Home Loan

I want to pay off my debt as much as possible. I know that by paying off debt I can I achieve my desire to be financially free earlier.

I want to have a freedom from debt and financial obligation from the banks or lenders.

Most of the people who hate their jobs cannot quit because they are trapped with debt problems. Unfortunately many of us keep working. We are still in the rat race.

Actually, having a free from financial liability is the first step to get out from rat race.

We understand that by paying early we can go to the next level of our life. We want to expand our existing business as soon as we can.

We can only do this if we don’t have debt. If we don’t have any financial obligation, it means a lot to us. We have the capability to save more and invest more.

Actually our journey to be financially free and to be our own boss started since two years back. We decided at that time that we must stop working with someone.

We want to run and manage our own business. We decided that working to someone or to anybody is enough.

Debt is the slavery of the educated and bright people.

We are working hard to let our company and boss get rich. We trade our knowledge, skills expertise, energy and time with money.

A man in debt is so far a slaveRalph Waldo Emerson

Working with someone is the modern type slavery. You are not only slave by your boss but you are also slave by money.

Money controls your being. It is because of money you force yourself to wake up early in the morning. You waste too much time in the traffic or in commuting.

No Liability & Debt Free Journey

No Liability & Debt Free Journey

Conclusion for Financially Free Life

In this journey, we experience a lot of obstacles and hindrances. Yet, we are determined to keep moving toward our end goal.

Anyway, in getting out from debt takes time and there is always no short cut.

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September 25, 2014
by Wealth Desire
0 comments

Small Business Venture and Next Wealth Building Steps

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Retail Store Business

Retail Store Business

It is my burning desire to be a full-time entrepreneur and to have a retail store business. I want to be hands on in running and managing my small business venture as much as possible especially during its start up stage.

My wife and I have a small business that started on April of this year. The original plan was to open it last December. However, due to uncontrollable situations, we moved it to April.

We started it first as a small retail store. We understand that in the beginning of every business there is always a risk. So, we will see how the things will work out.

I believe that in every venture it is necessary to start a baby step. If you get lost your investment on the early stage, at least the impact is not huge.

Our Stock - Drinks & Noodles

Our Stock – Drinks & Noodles


The best lessons I learned is start small and end it big. A small business has lots room to improve, to grow and to expand.

Why I want to have a Business Venture

Every one of us wants to get out from the four corners of our cubicle. In United States and other industrialized nations, working people is considered as middle class.

Most of the middle class American are living pay check to pay check. Entrepreneurship is one of the best solutions to get out from your job.

I want to have a small business in order to learn the in and out of entrepreneurship. I want to learn the process of setting up, dealing with the customers, running and managing it.

We are still working with our respective company while small retail business is running. My wife’s sister presently manages the store.

Business Venture - Tandem Couple

Business Venture – Tandem Couple


My wife and I already started feeling the stress from work. We also experience the effect of stress in our health, in our body and in the whole being.

We find it hard to deal with hard co-workers. You will find some are having attitude problems, lazy and zero knowledge about their work.

I observed also that those people who use to talk and nag are brainless and worthless individuals. The same also goes to superiors.

I want to stop driving for long hours because of my job. 4 years back, I was driving about 300-350 kilometers daily. I cannot imagine how I managed it for 6 days a week.

I spent 5 hours in the road daily for almost 4 years. The worst thing is I have to wake up early in order to leave early at home and reach my work place on time.

I am not complaining and don’t get me wrong. I love my job and I am happy with it yet it is normal to mankind to look for a better life.

I believe it is correct to look for solution what I find that is not right at present. Everybody deserves to live his/her dream life.

Store Business - Can Goods, Coffee & Milk

Store Business – Can Goods, Coffee & Milk

 

Next Wealth Building Steps

We are still saving most of our income. We need to be smart with our savings. We’ll be using the savings to be our capital for another business venture should we both quit our day jobs.

We have also plan to get funds from any government institution that could lend us capital.

Indeed, the smart solution that I can sense is to quit and start up a business.

I believe that setting up a business is bringing me and my family into the next level of wealth building. I know in business our future income is unlimited.

Feel free to share your stories about your business venture? Does your business bring you more income than what you earn from your job before?

Photo Credits: Photo 1, Photo 3,

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September 18, 2014
by Wealth Desire
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Mistakes Working in Iraq and Lessons I Learned in Life

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Risk While Working in Iraq

Risk While Working in Iraq

Most of the people now want to trade their time and energy with money.  Working with someone in exchange with salary.

It is okay to trade your time and expertise with money for 5 to 10 years.  I know some people who get out of rat race after working few years.

Do you dare to trade your life because of attracted offer?  The most daring is to trade your life with a promise of high salary.

Mistakes Working in Iraq

In recent year of political and social crisis in Iraq it does not stop for many expats to work there.   Working in Iraq offer a higher compensation with tax free benefits.

Do you want to trade your life and career to work in Iraq? How about in Syria and Libya?

I have a friend, a mining engineer who is working in Iraq.  He started working there since 2006.  He was attracted of high salary and tax-free benefits.

We know that Iraq is not a peaceful country.  In recent week, there a lot of killing accidents from extremist according to the news.

I cannot understand why some people gamble or risk their life for the sake of money.  I think it is not worth it to take a job if you are not sure your safety.  I cannot imagine why some people grab the offer even though they know the danger waiting for them.

Exemption of the Rules

To make this topic clear, there are some exemptions of the rules.  Military personnel and advisers are exempted in this topic.  They are sent to risky countries to depend the civilian and for global democracy reasons.  I really salute their bravery, courage and unselfishness battle for the sake of public benefits.

Beautiful Places in Iraq

Beautiful Places in Iraq

I am not talking also here those folks who are working with NGOs, UN or UNICEF and diplomats.  I salute these organizations or individual who risk their life for humanitarian reasons.

In this post I am particular to those people who are getting job in government and private companies in Iraq, Libya, Syria and other risky countries.  They do not mind the to work in the danger zone.

Lessons Learned  in Life

What is the essence of earning huge money or tax-free income at the end you will become a victim from the civil war or political crisis?

We should learn from the mistakes of my friend while he was younger and productive.  He mismanages his income and he is did not invest the most important asset.

When he gets loose his job, he thinks that is the end of his career.

  1. Always have an Emergency Fund

Always make a habit to save monthly for your family emergency fund.  You don’t know when you will get lose your job.  Our global economy is not stable.

In fact, some of the jobs in United States are outsourced to other countries.  Many manufacturing companies set up their own production line or plant in China or other countries in Far East.  So, there is always a chance for jobs lay off in the USA.

Remember as you get older your chance of landing a new job is becoming small.  Emergency fund is very important so that you will not be worried for your finances when you are temporarily loss your job. Your sense of feeling is different if you have money.  It is true that you will not feel desperate to look for job if you have still savings in your account.

Related Topic : Why Wealthy People Are Living Below Their Means

The rule of the thumbs is at least 3 to 6 months of your income.  Within in this period you can live comfortably while searching for new work. Having an emergency fund worth 6 months of your income will not attract you to work in the risky country.

  1. Keep Investing for Personal Growth

It is necessary to invest your own personal growth.  You can earn additional skills or train yourself to make valuable to your company.

Do not stop investing yourself.  You are the most important asset in your life.  So, it is necessary to improve your skills and knowledge to become on the top of your field.

Investing for personal growth is improving your mind sets, your sale skills, and productivity.  It is also the process of developing your creativity, decision making and resourcefulness.

If you are valuable, it is not easy for a company to fire you.  If you are marketable it means many companies know your potential and qualification.  A marketable applicant is not difficult to land for new jobs.

Related Interest: How to Double or Triple Your Salary That You Can Build Wealth Fast

For one thing sure, if you are investing yourself or your career it is impossible to end yourself working in Libya, Iraq or other risky countries.  In fact, you have a better choice to work in very nice safe place.

  1. Never Underestimate Financial Planning

I observed that most people attracted to work in the risky countries are those who failed to plan their future.  It is correct to say that people, who fail to plan their finances, are planning to struggle financially.

Related Post: Personal Financial Planning – The Effective Wealth Strategies

It is important to start your financial planning when you begin earning.  May you are new to real world and fresh from college you, to plan your future career and finances are a must.

With a concrete financial planning will absolutely not bring you to work in Iraq or Libya. You will not put yourself in the danger zone because of money.

Jobs in Iraq

Jobs in Iraq

Wealth Desire Final Word

Feeling desperate and hopeless give us the pressure to look for a job even in a dangerous place.  We bravely follow our desire to earn money despite the condition of your works.

Related Topic: How to Achieve Goals and to be Wealthy

The best way to protect you for this scenario is to have a financial freedom as early as possible.  It is true; if you are financially free you do not have worries if you lose your job.  Your guilt feeling for your financial responsibility in your family could be avoided.

Everyone has a choice and can control his/her life.  In fact, you are the only pilot of our life.  If you have proper planning for your future and career then you have a better destination.  Lastly, let may share you what Alan Lakein, a well-known author said; “Panning is bringing the future into present so that you can do something about it now.”

Photos Credit: Photo 1, Photo 2, Photo 3

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September 11, 2014
by Wealth Desire
2 Comments

Wealth Desire Blog Absence and Updates

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Blog Updates

Blog Updates

I was silent for more than two months due to many reasons. It was one of the saddest moments of my life. My mother passed away a day before our vacation.

I got the sad news while I was preparing for our vacation. My family is from Philippines. While I was in the plane for our flight to Manila, I am always thinking why it happened to our family and why not to other families.

Every year, my family is not paying for the airfare because my company pays for it. It is one of my benefits for working in Dubai.

It is not a joyful one month vacation. However, it is a necessity to escape from work stress and daily long driving.

 “The idea of a perfect vacation is not working or not having to work and having no appointments.” - Tom Welling

I am always busy with my day job as an engineer and I found out that I need to unwind and relax from time to time. I feel healthier and better while on vacation. There is no worries and stress about my job.

We need time to recharge and remove stress from our body. We need to refresh our own being in order to be productive and efficient.

It is really true that relaxing is necessary for our healthy body, mind and soul.

Relax quotes

Relax quotes

Going for vacation is spending quality time with my family, having more time for bonding with my kids and family.

Wealth Desire Blog Comeback

Hope as I come back, I can update my blog 1 or 2 articles per week. I am balancing my extra time with my family, job and my blog.

In the next post, I will share to you about a true to life story about my friend and lessons I learned working in risky countries.

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June 12, 2014
by Wealth Desire
4 Comments

Achieving Financial Success – 5 Secret Steps to Achieve It Easy

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Do you know what the secrets are in achieving financial success? Why only 10% of the people in this world are having the 90% of the world’s money?

Everyone can achieve financial success even without college degree.

How do you set your financial goal? Do you have discipline about money and your finances?

Sometimes it’s all about you, how you educate yourself about financial education.

Chris Gardner became a self-made millionaire without college education. He became the top stock broker of his former company. Even without a college degree, it did not stop him to learn and master about stock trading. It did not stop him to put up his own stock brokerage company.

Bill Gates and Mark Zuckerberg are both Harvard University dropped out. Without college degree didn’t stop them to become successful. They choose to stop studying in the university to follow their own burning desires.

Financial success is a journey of your life. It is a continuous process of learning, acting, expanding and growing your wealth.

Actually, the advice from most parents, teachers, professors and the government is to a get a college degree. For them, financial success can be achieved through this old school system.

5 Secrets of Achieving Financial Success in Your Life

  • Develop and Adopt Right Mindset

Right mindset is important in achieving financial success in your life. If you think and focus on the scarcity of money and difficulty of financial life, you will not get rich.

You will get what you are thinking of.

However, if you are confident and you believe in yourself that you can be successful, chances is you will achieve it.


There is a secret psychology of money. Most people do not know about it. That is why most people never become financially successful. A lack of money is not the problem; it is merely a symptom of what is going on inside of you. – T. Hary Eker.


If you are specific to your end goal, then you will reach to your destination successfully.

It is not difficult to attract and working on your financial goal if you have positive mindset about money and wealth. If you are thinking positive about your future then you will become motivated.

You are probably driven working toward your goal because you are inspired and interested about your success.

For Successful People This is a Nice Place to Relax

For Successful People This is a Nice Place to Relax

  • Have a Simple Lifestyle

The next factor that has a big impact of reaching financial success is lifestyle. It is all about how we spend our income or money.

It is impossible to be successful if you are spending more than what you can afford of. Overspending is one of the reasons a person struggling financially.

If your income rises, maintain your cost of living. Avoid having debt as much as possible.

It is the debt that traps you in the rat race or keep you working. Other people keep working underpaid in order to continuously pay their bill and debt.

Financial success can be achieved very easy. Whatever is your income, be it $1,000,000 or $50,000 annually, you must spend below your means. Even rich and wealthy people are living below their means.

You can live happily with a simple lifestyle. Be smart in dealing with your expenses.

 

Related Topic: How to Stop Overspending Money & The Ultimate Key to Create Wealth

 

  • Create Financial Planning

Financial planning is another secret of achieving financial success. Without planning, it is like you’re to take vacation without clear destination.

You have to ask yourself.

What do you want? How much money you want to achieve in order to live your dream life?

Do you want to continue working or retire early? How much wealth you want to be financially successful?

Start planning now for your financial future. Don’t depend on your company or government. In this generation, there is no such thing as security.

You are not secured in your job or in your economy now. You don’t know when you will lose your job.

Our economy is most likely run by greedy economist, materialist people and inconsiderate government officials. Do you remember the 2013 government shutdown?

So, you don’t know until when the economy is favorable or will crash.

 


Related topic: How Family Health Insurance Influence your Financial Planning

 

  • Have a Commitment and Action

It is not enough only to have a goal or to dream wealth or money. Commitment is a must to achieve your desired wealth or to attain financial success.

If you are committed, it means you are motivated to do it or to make action for your financial goals.

Start doing some actions to reduce your expenses and to increase your income.

Remember, financial success cannot be reach without exerting effort or action. It starts with the baby step in every wealth creation journey.

Do you have a savings? Why you cannot start saving now at least 10% of your income?

If you start investing and savings early, you can reach your financial freedom early. You will feel the freedom in yourself if you have accumulated your desired wealth.

It means that you become financially free only when you attained your financial success.

If you will not make action to sow the seed, it will not grow as a plant. It is the same with our money and finances, if you will not make an action to save and invest, there will be no improvement on your financial being as well.

There’s a tendency that you will spend it. If you are not committed, you will spend your savings or extra money to unnecessary stuff, those stuffs that will only give us a short-term happiness. Yes, maybe 30 or one hour happiness.
Do not let your money sleep in the bank; invest it to bring income to you. Buy assets that can regularly give you a passive income.

To become successful with your finances, you should focus on acquiring assets and diversifying your investment.
It is true that creating multiple streams of passive income is the secret of getting rich fast.

 

Related Topic: No. 1 Secret of Rich People

 

  • Secure Your Money & Investment

Do you know that most of the affluent people and family are hiding their money?

Yes, they are legally keeping their money from the eye of tax collectors or government through offshore account. This is one way of securing their money or wealth.

As soon as you do diligently saving and investing your hard-earned money, the next step is to keep it secure from different wealth stealers.

And if you have business, you need to get a liability insurance to shield your wealth or business. Insurance is very important. It is use to protect your business against litigation, uncertainties or accidents.

If you invest in rental properties, you must also insure your real estate business with public liability insurance. Again, make sure that your real estate business has its own entity that can safeguard your other assets.

Securing your money and investment will continuously grow your wealth. You are accumulating assets constantly without risk exposure.

With a secured wealth and assets, it will guarantee you in attaining your financial success.

Related Topic: How to Make Smart Passive Income and Become Wealthy

Tips for Financial Success

 

The secret of achieving financial success starts with your mind set. If you believe in yourself that you can attain your goals then go for it.

Commitment is another key of achieving success. Commitment causes a chain reaction to act and to do towards reaching the wealth you seek.

The amount of fortune you acquired or your net worth depends on the quality and quantity of your action. If financial success means huge amount of money, then you have to render too much dedication and hard work.

Indeed, your net worth is the reaction of your action.

Lastly, I will share what Sir Isaac Newton said about action; “for every action, there is an equal and opposite reaction”.

Feel free to share your secrets on how to attain financial success?

 

Photo Credit:  Photo 1, Photo 2, Photo 3

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May 29, 2014
by Wealth Desire
0 comments

Key to Wealth Building – Secret To Get You Rich Fast

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Key to Wealth Building

Key to Wealth Building

Do you want to know the ultimate key of wealth building?  Why other people tap the keys to wealth creation while the average people are still dreaming of a better life.

This income is one of the best way to make money and very vital for building wealth.  An American wealthiest person is using this wealth building system which made him truly rich.

Many top 400 billionaires from United States build and grow their fortune through different passive income.  For the past few years, the wealthiest American now was just behind Carlos Slim Helu.  However, he became the world’s richest person this year because of his passive income.

A passive income gives us the personal freedom.   We can do what we love to do yet we are still earning regular revenue from passive income.

What I like most on passive income is you will only spend your time and effort at the beginning of the project or investment.  You may work hard to establish the system that will pay you later or will give you better returns in the future.

If you are only focused on your job, what you’ll get is an active income only.  You are working hard most of the time.  Then, you always feel that your income is not enough and you are struggling.

In fact, if you are not a hard working type of employee, creating passive investment income that can provide you cash flow is a must.

If you don’t love your job, you don’t love your boss and you don’t love your company then having a passive income can help you quit your job.

You need to have recurring earnings while you are still working with your day job.

Like other billionaires, without their physical involvement on the day to day operation of their businesses, still they are making huge income. It is true that most of the companies of this richest man are managed or run by other people.

Like Bill Gates, he quits from his job in Microsoft to concentrate on his charity works with his wife.  He spent and donated a total of $36 billion from the beginning till now.

RELATED TOPIC: How Bill Gates Reclaims World’s Wealthiest Man Title

The key to his wealth building is multiple income streams.  His various incomes are coming from different investments that include dividend from stocks, profit sharing from his business and investments and many more.

Why Passive Income is the Key to Wealth Building

  • Give you a Generating Cash Flow

The most important word in the world of money is cash flow.  The second important word is leverage. -Robert Kiyosaki (Best Selling Author)

Successful people’s priority is to establish a system that can provide them a lifetime cash flow in order to get rich fast.  Like rich and wealthy people, they heavily put their money on investing assets that will generate regular income.

In fact, they know that they can get rich fast with their multiple passive incomes.  That is why they are focused on their priority. They prioritize their passive investments that have good returns without too much effort.

RELATED TOPIC: Tips on How to be a Millionaire

Additional cash flow from different streams will add to your income.  If you maintain your standard of living, absolutely you will have huge extra money.  You can save and invest your extra income as well.

Get Rich Fast to live in Paradise

Get Rich Fast to live in Paradise

  • Give you Financial Freedom

I swore I was going to exclusively collect assets and not liabilities for the rest of my life. I swore never to take gambles I couldn’t back up, or that I couldn’t afford to lose. And, I’ve stuck with that ever since. – Tim Blixseth (American Billionaire)

Do you remember one of the books of Robert Kiyosaki about cash flow?

The title of the book is Rich Dad’s Cash flow quadrant: Guide to Financial Freedom

Reaching financial freedom is based on where you belong in the four quadrant of financial life.  Now, if you want to be a financial free, you have to start preparing yourself in B (business owner) and I (investor) quadrant.

People in the B and I quadrant are earning income with the majority coming from passive income.  Money work hard for business owners and investors to give a regular income.

If you are an ordinary employee and still in the pay-check to pay-check lifestyle, the best thing you can do is to decide which quadrant you can generate passive income.  Learning they key of getting out of rat race is the same key to start building wealth.

RELATED TOPIC: The Truth of Creating Financial Wealth and Its Advantageous Rewards 

You will reach your financial freedom once you have enough wealth.  It is also the period when you have the abundance of resources to live a meaningful life.

 

  • Bring you to the Fast lane of Getting Rich

Becoming wealthy is like playing Monopoly, the person who can accumulate the most assets wins the game. – Noel Whittaker (Bestselling Author)

The best secret to get rich fast is to increase the sources of passive income.  The more wells of wealth you will create the greater cash flow you are earning every month.

It is true that having bigger income from various wells can help you acquire assets.  It is like you are earning while you are sleeping.

RELATED TOPIC: No. 1 Secret of Rich People

Passive income brings you to the fast lane of wealth building because you are making money even in the night time. Your assets are giving you income while you are enjoying vacation, relaxing or working with other business.

Bottom line

The ultimate key to wealth building is based on how you generate your income.

The moment you started accumulating assets, your financial life will change.  In fact, you are growing your wealth quickly.  That is the secret of getting rich fast.

Indeed, it is the passive income from different assets is the key to build wealth and to make you rich fast.

RELATED TOPIC: Proven Ways on How to Get Richer 

What do you think are the other key of wealth building?

 

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April 29, 2014
by Wealth Desire
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How to Double or Triple Your Salary That You Can Build Wealth Fast

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Increase or Double your Income to grow your wealth

Increase or Double your Income to grow your wealth

Do you want to double your salary this year?  Are you planning to increase your income fast?  Getting higher salary can significantly help you in building wealth. 

Receiving promotion and increment in compensation can make a big difference over the course of your career and financial being.

You may wonder why some of your peers and colleagues are earning more than you?  They get easily promoted as well.

“The less a man knows the bigger the noise he makes and the higher salary he commands”. – Mark Twain

You will discover in this article how the former Microsoft Corporation executive built wealth from scratch.

The first steps for an employee or individual to build wealth is to determine how you can increase or double your income.

Income is the primary foundation to grow your wealth.  The higher pay you have, the greater potential you can accumulate more assets.

I will share to you today the strategies that can help you double or triple your salary in your company.  These approaches are commonly used by highly successful managers and executive.

[Related Topic] Secret for Getting Higher Salary

Best Strategies to Double or Triple your Salary

 Earn a Degree or Higher Education

Earning a bachelor degree or higher education will give you a higher chance to land a high paying job or promotion.  According to the report from USNEWS.COM, college degree holder earns about $2.7million over their lifetime.  While those holding doctoral, professional degree and master degree earns about $3.25 million, $3.65 million and $2.67 million respectively in their lifetime.

On the other hand, those groups of people with high school diploma usually earn $1.30 million only over their lifetime.

Most of the valuable employees earn more knowledge through higher education.  They become marketable because of their expertise, intelligence, and excellent communication skills.

If you want to create wealth from scratch as an employee you should have at least bachelor degree like Steve Ballmer, the former CEO of Microsoft Corporation.  Others pursue higher education like MBA or master degree in order to attract multi-national employers and to double their income after 2 to 5 years.

 [Related Topic] How Wealth Desire Achieve Your Financial Goal

Strategies to Double Your Salary

Strategies to Double Your Salary

Develop a Unique Skills

Most of the major corporation offer high salary and perks to individuals that have problem-solving skills.  Employers want a manager or an executive that can solve company problems quickly and efficiently.

Problem solving is the process of predicting, analyzing and mitigating a potential problem in order not to occur and not to recur.  In a real world of business, it refers to corrective action taken to prevent further failure of the products or process.

If you can possess problem solving skill, your employer knows that you can use your logic and imagination to solve whatever problem you might encounter.  They know that you can come up with an effective solution.

Now, if you have a desire to get rich and to double a salary, you must develop a problem-solving skill.  Having a unique skill can help you build a reputation being someone who can handle tough situations in a wise and positive way.

Practicing this skill can make you a big contributor to your organization.  The bigger your contribution to your company’s success, the higher compensation you can demand.

Indeed, having a unique skill can make a huge influence to double your earning and to grow your career as well.

[Related Topic] How to Get Debt Free Life

Maintain Positive Attitude

Maintaining positive attitude make an employee open to accept more responsibility and willingness to provide good quality work for the success of the company.  It means that an employee always feel better to do his work and more satisfied to complete his or her project before the deadline.

Working with positive thinking will enhance your productivity.  Your employer will immediately notice your accomplishments and attitude towards work.  Employees with positive attitude get easily a promotion and bonus.

I have a friend who keeps complaining about his work and his company.  Yet he did not get promotion or increase of salary for about 6 years in the company while his other colleagues get easily promoted to higher position.

I think that is the problem if people focused on negative things, they are also getting negative income, negative in the sense that they always feel that their job is giving them a not enough income.

To double or triple your compensation you should focused on positive thinking towards their job and company.

In fact, most of highly paid employees and executives are positive about the growth of the company and their own career growth as well within the company.

That is why most of the employees who earn higher salary are those with positive attitude.  They complete a lot of works easily and efficiently compared with other colleagues.

[Related Topic] Tips on How to be a Millionaire

Increase your Responsibility

When you have a big responsibility in your organization, it means that you have management skills that can make you valuable.  Usually, having a huge responsibility may warrant a pay increase.

If you want a salary increase or planning to double your salary, you must look at any possible opportunity or vacancy for higher position in your company.  It is not enough to work hard and spend more time in your job.  It is your responsibility to ask for promotion.

Observe the supervisors, managers and executive people; they are getting a higher wages because they are having bigger responsibility and accountability.

With a higher responsibility, you can show up more achievements.

Remember this, your company may offer you a higher salary with huge bonus because of your significant contribution to company while you are in higher position.

[Related Topic] How to Earn Extra Money From Your Full time Job

Be a good Leader

If you are a good leader in your field or department, your chances of getting double income is big.  The tendency is you can influence your subordinates to well.  Your people become more productive. 

Hardwork Cannot Double Your Pay

Hard work Cannot Double Your Pay

Once your department or company become productive, the management or board of directors will notice your accomplishments.  Remember that every achievement deserves increment or rewards.

Employees that have good leadership skills usually get promoted quickly and earn higher pay compared to their peers.

Most of the time, the board of directors are appointing CEO based on experience and leadership history.  It is necessary to have a good leader in team building of the company.  This is to surely achieve success of the company through other managers and employees.

[Related Topic] How to Achieve Financial Freedom Quick

Tips on How To Double Your Salary

Set a goal now to increase or double your salary.  Continue developing valuable skills that can make you a better employee.  The more valuable you are in your company, the higher pay you will earn.

Always think that you deserve a bigger pay check. If you start asking for promotion and increment on your salary, it will be worth it in the next phases of your life.

Getting higher salary (double income or triple) can help you achieve the dream life you want.  The bigger your compensation, the easier you do your wealth building.

Do you have more suggestions on how to double your income with your day job?

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