Leverage your way to wealth!

Leveraging your earning power, through investments in the stockmarket, property or a business, can speed up your wealth creation!

 

 

I used to wonder why so many people work their entire lives and end up with very little. On reflection there are probably a number of reasons: they don’t earn enough, they spend more than they earn, they spend unwisely and need to re-spend on the same things or more importantly they don’t understand the value of leverage.

 

Leverage is a way of earning income not entirely based on the hours we spend at work!!

 

Very few people are paid such a high hourly rate that they can work at their own pace and live well; most of us need to think of ways to get our money – investments – working for us so that we are not tied to the grind of years and years of work and no freedom!

 

This principle is, in income terms, really about leverage: being able to lever up your income to give it more value through investment in the stockmarket, in property or in a business.

 

Running a direct-selling company showed me that you don’t need to have a large amount of money to start with to achieve leverage.

 

In direct-selling and multi-level marketing, you can achieve leverage by recruiting a team of people and earning commission on their sales – the same concept as that of investing in any business – although in this case you generally need to invest very little.

 

I referred to the concept of leverage in my first blog but I am discussing it again because it seems to be a recurring issue: people simply don’t understand that having financial freedom requires a strategy and needs time and thought!

 

Sometimes it seems we get so involved in the tactical issues of just running our daily lives that we put the big-picture stuff out of sight – and out of sight, out of mind!

 

I don’t pretend for a moment that I have resolved all the challenges regarding financial freedom but I clearly understand the basic principles and want to share with you my key strategies

 

  • Save as much as you possibly can.
  • Spend only on what you really need and be prepared to negotiate price on most things!!!
  • Invest with care and remember that the higher the return, the higher risk!!
  • Keep control of your own money; be very wary of anyone who promises amazing returns; that is, take responsibility for you own financial freedom!
  • Think about and develop a strategy to leverage your income.

 

There is a great balancing act between enjoying life each day and being prepared for the future, and it’s important to do both!

To read more High Heeled Success blogs, click here.

 

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