«Clarity about long-term fundamental trends is essential to handling the random and uncertain short-events that inevitably may be found in the path of the goal. A definite vision of future change along with the discipline to be the course would be the secrets of building wealth and success, whether operating a business or investments. Setbacks are just chances to learn, adapt, or invest more. It isn’t a question of opportunity to these successful people. 80 % of today’s millionaires are self-made, not through inheritances.» The Roaring 2000, by Harry S. Dent Jr.
People that have this idea of change and systematic approach to taking so-called risk may be the millionaires of tomorrow. I really like to discuss here Robert T. Kiyosaki example of risk. He says driving a vehicle carries a risk, but when you know how the auto operates, and ways to control it, is less risky. However, driving without hands instead of finding out how the device operates is foolish and extremely risky.
Within the Millionaire Nearby, the author’s surveys of wealthy folks have learned that the normal millionaire achieved such status by systematically under-spending as well as over-saving from modestly above average income. The law of compounding interest and investment returns built Wealthmastery after a while, not overnight successes or excessive risk-taking. A majority are self-employ and real estate investment investors.
Two points that I would like to pay attention to. First, when Mr. Dent says «clarity about long term fundamental trends,» he refers to the wealth model which you have learned. This model is constructed of seven principles or keys would be the fundamental for a long-term success, freedom and wealth. Those seven keys are:
1.Attitude will give you Altitude and Focus
2.Dreams, Setting goals and Action Plan, your blueprint for success
3.The Proper Education
4.Mastering Business and Entrepreneurship
5.Cash Flow (earned, portfolio and passive income)
6.Equity Build up
7.Wealth Mastery-Keeping all this together
Secondly, a «Clear Vision for the future» we have to know that we have been not inside the «Industrial Age» ever again. We are in the «Information and Telecommunication Age.» Simply what does that mean, for starter there is a new class of worker available, they are called «Telecommuters.» These telecommuters are changing the way real-estate investment was presented in past times. The old model about property boom and doom (the eight year cycles)… out the window. The brand new economy is diversifying how people spend money on real estate investment.
As Harry Dent said within his book «The nine shades of penturbia.» This is how everything is changing, the latest property game:
1.Resort Towns, like Telluride, Colorado., Myrtle Beach, South Carolina., Lake Tahoe, Nevada., Kemah, Texas., and more.
2.Small College and University Towns-College Station, Texas., West University from the south side of Houston, etc.
3.Classic Towns-They are really attractive, simply with regard to their old fashion. Places such as Pierre, SD., Crossville, TN., etc.