As you make it a habit to find ways to better yourself, you'll also find new potential ways to build wealth faster than ever. Everyone does it differently, and nobody will do it exactly like you. You're unique and you'll find a way. Just give yourself a chance! I'm so glad I gave myself a chance to succeed. You will be too.
To build wealth really fast, you’re not going to get there by investing $50 to $100 per month into a Roth IRA. While yes, it’s great as a long-term strategy, it’s not going to make a difference in the short-term. A lot of financial advisers I talked to don’t want to encourage you to take that risk now. Heck, I was one of those financial advisors several years ago.
While not letting you know about all the wealth-building options isn't financial malpractice, it's certainly better if your financial advisor gives you a variety of options based on your financial goals – even when it doesn't help his pocketbook. It's always a good idea to talk to several professional investors to see what has worked for them. The best question you can ask any financial professional is how they are investing their money – it will speak volumes.
Let's step back for a moment. You might be thinking: "How in the world can I learn and do all this stuff? Is it even possible?"
Don't think that you have to do everything. Instead, focus on a few things and do them well. It all starts by investing in yourself. Listen to podcasts, read books, take millionaires out for lunch (yes, you buy).
You can start by subscribing an excellent podcast by Lewis Howes: The School of Greatness Podcast. There, you will become equipped to think differently about yourself and your wealth. It's fantastic.
My first step was crossing over into being self-employed. Just by making that shift, I saw a 30% increase in income in my first year. Since then, I’ve become a business owner – and now I consider myself also to be an investor. As a business owner, I own my wealth management firm. I own my blog, GoodFinancialCents.com, and I also own a few other online properties that all yield me income.
Yes, blogging can be very lucrative – I've made over $1,097,757 from blogging. In fact, I could almost consider my blog as an investment; while blogs do require some upkeep, they certainly do not require nearly the upkeep needed for my financial planning practice.