Wealth Creation Blog

I just by chance happened across a few discussions recently that referenced the many myths that people hold around money; these are myths that keep people from saving, investing, and making money because they either misinform, or essentially provide excuses for people not to take firm control of their financial house. I paid it little interest at the time, but then thought more deeply later that this is, in fact, fundamental to real wealth creation.

Out With The Old, In With The New

It’s not as if I didn’t know this; one of the primary missions of programs like Jamie McIntyre’s is in educating people to the real truths of money, saving, investing, money systems, banking and establishments. It’s an important part of any plan to build wealth because having the real information, and the ability to analyze a situation, is freeing and opportunity-producing.

Here’s an example of what I’m referring to. One of the things that were mentioned was real estate—whether it’s better to rent or to buy a home. Of course, this really means mortgage your home because most people don’t have their “bought” homes paid off.

The general consensus is that buying your home is best. Different wealth experts would have different things to say about this. But the articles you read say not necessarily—and that can be true, too. Jamie McIntyre, for example, would buy multiple properties but would keep his home, his personal residence, usually out apart from investment properties; or, he may suggest living in one but still viewing it as an investment and always knowing it as such. He learned a lot of this from Robert Kiyosaki who believes in investing in real estate, but knows that a home is not an investment; it’s a place to live, whereas your money makers are in a different category. More often than not it’s all in how the banks would have you view it.

So what’s the point?

The point that I’m trying to make is that there are many ways to look at things. And, I guess, that you can’t always take what you read at face-value. You have to consider it on your own terms, and peel back the myths and general advice to look strategically at the financial decisions you make. And I have to add, a very good way to nurture those skills is to get educated! Financially educated! Learn the facts and motivations behind all types of transactions, and find the ways that you can capitalize where others fail to learn.

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