Wealth Creation Blog

Goal setting is an important part of successful wealth creation. And as we all know, this is the prime time for setting new goals for the year.

Looking Ahead To Wealth Creation

Envisioning your financial success is one of the ways we succeed in wealth creation. Form a vision of where you will be at this time next year, and let if guide you as you set the goals—the path to financial freedom—that will get you there. The practice of setting New Year’s financial goals starts (as we laid out in the last post) with reassessing the year past. With a firm grasp on your current financial picture, make a plan to take you through the next 12 months; make it a plan that ends much better than it starts. No matter where you are in wealth creation, there is always room for more…

Make Wealth Creation Goals Meaningful For You

Everyone’s financial goals for 2008 will be different. Every one of us is starting at a different place, at a different point in wealth creation efforts, and at a different level of understanding of wealth creation.

• For those of you just starting out, and also for many of you who have yet to make a strong showing of investing, the best goal for you might be to find the money that will fund your efforts at creating wealth. Take a look at the list of places we talked about before and figure out where your money will come from.

• Of course, you’ll also need to decide where you will put that money to grow it and make money, but first give yourself a level of protection and spread the wealth around in your life. Take a look at what Jamie McIntyre calls the ‘bucket’ concept; having buckets of wealth will help minimize your investment risks.

• Make it your goal to continue your wealth creation education. No matter where you are in wealth creation, you can always learn more and find new ways to put your money to work for you.

• To this list, add anything that will help you improve your financial future in the year ahead.

One goal worth a mention by itself is savings. If you’ve read Jamie’s book, you know that building a base of savings is imperative to wealth creation and financial success. But almost none of us do it (the wealthy are excepted). This year, set a dollar-figure for straight savings, and work to build a habit of savings—no excuses!!

Wishing you loads of financial success in the New Year…

Sean Rasmussen
Wealth Creation Blog
UniversalWealthCreation.com © 2004 - 2008

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As you research and work through the various wealth creation programs offered, you will come across many different strategies and types of investments for making money and building wealth. Not all strategies are for everyone, though, and you need to decide which is the most appropriate and most manageable for you.

What’s Your Wealth Creation Style?

As you read and learn about these various wealth creation strategies, you’ll get to know more about them, and you’ll begin to see which will suit your style and your life the best. Consider each investment strategy on its own and choose that which you feel most comfortable with.

Some things to think about when you are deciding on an investment strategy (or strategies) are:

• Previous experience or skill you might have that can be applied to a strategy

• Amount if money you have to invest

• Security of the investment

• Your personal comfort level in regards to risk

• Access to ongoing support and education for a given strategy (which should be no problem with the right wealth creation program leading the way)

• Your interest in a field or strategy—do what you have an interest in and that interest will sustain your efforts indefinitely!

How Much Is Enough?

Although it can be exciting to think about all the strategies for building wealth that are available to you, check yourself and do not try to do it all at once.

Americans like to use the expression, “Jack of all trades, Master of none”; this is not how you want to manage your wealth creation portfolio. You want to become a master of your chosen strategy first, see it through to success, and move on from there.

In the beginning, plan to focus your resources on just one or two strategies (which is not to say that you cannot make more than one investment, just that you invest using the same strategy or investment outlet for each); as you start making money and your experience and skills grows, reevaluate and consider new strategies (or stay with the same if its meeting your goals for wealth creation).

Wealth creation is a process that takes time—short time, relatively speaking, but time nonetheless. To enjoy the most success in wealth creation, start small and manageably and grow as you learn.

Sean Rasmussen
Wealth Creation Blog
UniversalWealthCreation.com © 2004 - 2008

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The reason that investing turns bigger profits than traditional bank accounts is that the investment markets are riskier—you are rewarded for investing in something that is not a sure bet. Therefore, inherently, wealth creation through investment is somewhat risky; without risk, though, all you have is marginal growth through savings.

However, your overall wealth creation strategy does not have to be risky. By using a simple strategy for wealth building designed by Jamie McIntyre, you can spread risk thin so that there is little to no chance of losing it all.

Baby Buckets

Jamie starts us off with the analogy of a big bucket of wealth. From that store, the money you have is divided into four smaller “buckets”, or “baby buckets” as Jamie likes to call them.

Each baby bucket is purposed for a different type of wealth. First you have your

• Security (cash) bucket

• Growth bucket

• Momentum bucket

• Lifestyle bucket

Each of these buckets, as you might have guessed, carry a different level of risk and are to be used for different types of investments (or for different strategies, as you choose).

The purpose of the baby bucket strategy is to create a personal investment portfolio of sorts. Taken as a whole, these baby buckets give you the ability to both secure a firm financial foundation and grow funds without the risk of losing it all. It’s risk and security all rolled into one.

In a future post, we’ll talk more about what goes into each of these wealth creation buckets and what the different levels of risk are. For now, start thinking about this concept. Strategies like the baby bucket principle are an important part of developing financial intelligence. These are the types of strategies that will help you start thinking about the big picture and the kinds of spending/saving/investment changes you need to make in your life so that you can work towards achieving sustainable wealth and financial freedom instead of gaining a few big investment wins that will last only temporarily.

Sean Rasmussen
Wealth Creation Blog
UniversalWealthCreation.com © 2004 - 2008

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These days, it seems everyone is a cynic.  It seems cynicism is wide-spread across the board in all matters, including wealth creation.  

One Too Many

No matter what your pursuit is, there is a very good chance that either right off the start or somewhere down the line you will come up against feelings of doubt and cynicism.  On the internet, it’s everywhere. It’s likely this comes from people always hearing one too many stories of failure or deceit.  These stories—which seem far more prolific than the success stories, for some reason—are everywhere, and they’ve led us to become deeply cynical. 

It has been my experience online that no matter what help you offer to people online, there will always be naysayers, ‘Devil’s Advocates’ and the like arguing against it.  There will always be someone who distrusts what you are saying.  They will doubt your honesty and doubt the validity of whatever wealth creation program you are offering. I can understand how this happens.  There are just too many dishonest people in the world who prefer to make their money by scamming others rather than make it by providing an honest, worthwhile service or program that will actually help people make money and build wealth. 

Accepting Cynicism, Moving On

There comes a point in your wealth creation education where you will have to do as I have done as a promoter of wealth building programs—accept it and move on.  If you let the cynics get the best of you, you will never succeed in wealth creation because you will doubt everything that is put before you.   There is a way to battle the cynics and prove them all wrong (well, know in your head they are wrong—it’s pointless to waste time actually arguing against a cynic, there’s no end to it!). 

Use the criteria we’ve gone over in the past.  Research.  Do your homework and choose a good program with support and backing.  Have faith in yourself and know that you are an intelligent person capable of making informed decisions.   Then let it go.  Let go of all the negativity and move forward to create wealth of your own.  Know that those cynics will always be there—in wealth creation and all things—and that their negativity is the reason for both their poor attitude and their financial stagnation! 

Sean Rasmussen
Wealth Creation Blog
UniversalWealthCreation.com © 2004 - 2008

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Around here we become so intently focused on helping adults make a better financial life for themselves that we often neglect to talk about the people who stand to gain even bigger and better things from a wealth creation education—our children!  Just imagine, though…if learning to create wealth now can do this much for you at a more advanced age, how much better off could you be if you’d learned to make money work for you from an early age? 

Your Kids Need Your Education

Whether you are a parent now or not, heed this message.  If you have children, hear what I’m saying and start helping them learn about money now.  If you plan to have kids, better still—you haven’t lost any time!  If you will never have kids, but care about youth and the future of the economic planet, read on and think where you might apply this knowledge in your life to help others. The financial institutions that ‘taught’ us how to make money have not changed much in the years since you’ve left school (regardless of whether that was six years ago or sixty).  Public and private schools and universities are as inept now as they were then.

They are still teaching your kids what they taught you—how to go to work, work hard, and chase the elusive big paycheck.   Still today there is no education that teaches our kids how to put their money to work for them.  Today’s kids are still only getting half of the equation—the same half we got that did little to nothing to help us live a free financial life. Being that you’ve found wealth creation, you have a unique opportunity to do something now to set your children (or the children important to you) up for a great, financially free, life.  Share you wealth creation education with your kids.  Do not hide your former ignorance from them—show them that there is more to learn and that you’ve had the foresight to learn it! 

Let your kids learn to save and invest to build wealth along with you. You’ll be giving them an invaluable start, with a seasoned coach to fall back on.  You know you can’t rely on the educational system to do it, or you’d have been living your dream life years ago.  You know your kids need more. A solid financial education; a lifetime of financial nurturing and support; the foundation to build enough wealth to live the way really want to be living.  What more could a child ask for? 

Sean Rasmussen
Wealth Creation Blog
UniversalWealthCreation.com © 2004 - 2008

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