TMG | Chapter 1 | 2: The 4 Lanes Of The Wealth Highway
Once you have decided to embark on your wealth creation journey, you'll need to choose your best vehicle...
I remember that a huge feeling of relief washed over me when I realised that there are just four ways to create real, lasting, sustainable wealth – a bit like the four lanes on a motorway.
I’ll be going into each of the four lanes of the wealth highway in more detail later on but, for the moment, think to yourself, ‘Phew!’ that’s not too overwhelming – anyone can learn about just four things!
Those four lanes are:
Property Investment (there are at least 10 ways to invest in property)
The Stockmarket & Commodities (exposure to equities or precious metals in some form or other)
Minding Your Own Business (creating a side hustle, even if you have a job)
Profiting From Your Passion (creating largely passive revenue streams online that work even while you sleep)
(2017 UPDATE: There is now a fifth asset class emerging in the Second Lane and it’s called Bitcoin. The sooner you learn about Bitcoin (and to some degree, the Blockchain software that underlies it, the better). Even the ‘little people’, can start investing in Bitcoin for as little as $20 at a time. You can start by reading this free PDF White Paper written by Satoshi Nakamoto, the person who invented Bitcoin back in 2008)
Each wealth creation lane has a myriad of vehicles to ride in – perhaps a pushbike will suit you better than a juggernaut initially and maybe you will want more than one vehicle in each lane!
Each vehicle will produce different results in terms of outcomes – are you looking for results while you travel (income) or slow steady travel (growth) that gets you there in the end?
We all have our preferred driving styles. Which is yours?
Decide if you are a pushbike person or a Ferrari person. Both will get you there but one will be faster. Think about which lane of the motorway you are going to drive down first – and no, you don’t have to get a vehicle on all of them to start with, but you can be aware that the more vehicles you have on each lane, the faster you will get to your destination.
So what is your destination? Where are you now? Because one thing is for sure, if you don’t know where you are now financially, you are less likely to be able to get to your destination successfully.
Because… well, think about it for a moment. If you don’t know where you are now, you are LOST, are you not?
If you are trying to get to Manchester, but you don’t know where you are starting out from, you are much less likely to get decent directions!
Now, think about how big and powerful a vehicle you would like on each lane, or whether you would feel more comfortable with a myriad of little vehicles on each lane.
What kind of a driver are you?
What kind of a driver would you like to be?
Till next time!