Learn Wealth Creation

Frustration Can Be Your Guide

In our quest for creating wealth, there comes times when we become frustrated that we are not getting anywhere towards our goals. This frustration is actually a good sign, and today I want to discuss why that is so.

Making money is simple, yet not easy. What I mean by this is that there are some amazing wealth creation strategies out there, yet we as individuals are the ones that complicate them due to our various mindsets, and of course our own personal circumstances at the time.

Something that I see often, is someone who has learned some fantastic Stock Market or Property Investing Strategy, and due to them not being able to access the money right now to take advantage of this opportunity, they get frustrated and tell themselves that they can not do it.

Now this is not the correct way of thinking if we are ever to create wealth. Some people want to wait until they have $100,000 before they want to invest in a simple Share Renting strategy that will make them about 3% per month, most months of the year. That gives them about $3000 per month income. Many people don’t have access to $100,000, yet they may have access to $10,000. This could now be making you $300 per month, although I hear a lot that many people will not do it because they don’t see $300 as worth it as that will not make them wealthy.

Well if you are making $300 per month, every month, do you not think that you are now a real investor? Are you not getting the same real life experience as someone who is trading $100,000 or even $1,000,000? You are, everything is exactly the same, including the % profit of 3% you are making. So how come you are still waiting and being frustrated?

When you find yourself frustrated with your new found wealth education, then take action and do what you have learnt. Frustration is great, as it means your level of knowledge has grown and you are searching for a way to implement it.

Passive Or Residual Income Is The Way To Wealth

You may have heard the term residual or passive income being thrown around at times, and it is the key for wealth amongst the MLM members out there. Today, I want to discuss how you can make this passive income, without being a part of MLM and downlines and uplines. No offense to the MLM crowd, it’s just not for me.

First, let’s define what passive income is. In essence, it is doing a job once, and getting paid over and over again for some times, many years. That, is a wonderful thing indeed, and if you have enough streams of passive income, then you will become very wealthy.

Residual income can come to you through many ways, and with the introduction of the Internet, it is even easier to make a substantial living by this method.

To begin to do this however, can sometimes take a dramatic mindset shift, as most of us have been conditioned to swap an hour of our time, for a certain amount of money, or a salary. Putting a system in place once, to continually earn money from, can be a little out of our realm of thinking at first.

So what are some of these streams of passive internet income you might ask. The first one that comes to mind is being an online affiliate to some monthly membership sites. As long as the quality of the content is up to date, and offers great value for money, the people who do subscribe to these sites often tend to stay members for long times. Certain online software that most businesses use, also have online affiliates, so if you can secure clients in this manner, you are looking at a great long term income stream.

Passive or residual income is a fantastic way to create regular income, and long term wealth as well. There are a multitude of fantastic ways to get into this strategy, and you need just look all around, and you can easily see it is a very accessible market.

The first post of 2009 for Learn Wealth Creation, so let’s get off to a flying start. We have a whole 12 months ahead of us, so why don’t we set a goal of achieving financial freedom by the end of the year? Think you can’t do it, then you are right, think you can do it, then you are also right too!

First you have to work out what Financial Freedom means to you, as we all have different meanings of the word. What people mainly describe when they say it, is having enough money coming from their investments to pay all their living expenses and current loan repayments, without the need to earn any other income from a job. The amount of money does not necessarily mean you can increase your investment commitments, although by having the time now on your hands, it is a pretty safe bet that you can begin to create even more wealth, without getting bogged down in the rat race.

Knowing what financial freedom means, we can now put a goal in place to achieve this within 12 months. By not writing down this goal, we are already in trouble, as we are telling our subconscious that we don’t think we can achieve it so why bother writing it down. Make 2009 the year that you overhaul your mindset too. Here is a link to the goal planning sheet that I actually use myself, to help me hit my own goals and targets.

Too often we have a financial goal or objective, yet get overwhelmed with how to actually achieve it. Right now that is not that important as writing the goal down. The brain will provide the how in a short while.

You have 12 great months ahead of you, and you have to work out just how much you want to have financial freedom by the end of it. Are you prepared to make some small sacrifices in order to have a financially rewarding life? Work out what is more important to you and go and hit those goals.

Happy New Year!