Wealth Building Articles

Finance » Wealth Building | By Adam Khoo @ Monday, 7th August 2006 @ 1:42 AM

Over the last few years, I have interviewed people who were among the highest income earners in their industry and people who were the average income earners. Sure enough, I found that age, experience and academic qualifications had nothing to do with their price tags. It depended on how much value they created for their company and for their clients they served. I want to give you an example of two account directors from an advertising agency. Their jobs entail managing the clie... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 7th August 2006 @ 1:00 AM

Is there a formula for wealth creation? Do all self-made millionaires take the same steps to amass their fortunes? If we were to do an in-depth study of how self-made millionaires think and act, would we find some common clues that we can learn from? The answer is yes. These are seven essential steps, each one representing a wealth creating skill that all self-made millionaires possess and practice. Step 1: Adopt the Million-Dollar Mindset Millionaires see learni... more...

Finance » Wealth Building | By Adam Khoo @ Sunday, 6th August 2006 @ 11:18 PM

I am sure that no matter where you are in your career, you desire to create more income for yourself. For most people, only two options come to mind. Either they work much harder in their job and hope their boss notices their efforts and gives them a raise of 5-10%, or quit their job and find another company that will pay them 10-20% more. When I talk about increasing your income, I don't just mean by a measly 5%, 10% or 20%, I am talking about massively increasing your inco... more...

Finance » Wealth Building | By Adam Khoo @ Sunday, 6th August 2006 @ 6:53 PM

The most common question that people ask about getting rich is, 'What is the best career or business that will make me the most money?' Should I go into education? Food? Insurance? Network marketing? Heathcare? Options trading? Property? What's the best industry to be in right now? Well, you will find that in ANY industry, there will be a minority who will be making plenty of money, while the majority will be struggling to survive. So my answer to that quest... more...

Finance » Wealth Building | By Adam Khoo @ Sunday, 6th August 2006 @ 6:00 PM

In my live Wealth Academy seminars, I usually do an exercise where I get people to stand up, go to as many people as they can and introduce themselves. From this simple activity, I can tell immediately if they exhibit this very important wealth habit. I notice that there will always be some people who will go around introducing themselves first and getting to know as many people as they can. These people exhibit the pattern of being proactive. People who are proactive are ... more...

Finance » Wealth Building | By Adam Khoo @ Sunday, 6th August 2006 @ 3:05 PM

There is a very big difference between wanting to become a millionaire and being 100% committed to becoming a millionaire. When you merely want, wish or hope to achieve a goal, it will rarely ever happen. Think about it. Everybody wants to be financially free, but very few ever make it happen. Studies after studies have shown that people who achieve phenomenal success and wealth did not just want it, they were 100% committed to achieving it. When you are 100% committed to a goal... more...

Finance » Wealth Building | By Adam Khoo @ Sunday, 6th August 2006 @ 12:43 PM

The truth is that many of these beliefs and attitudes that some people hold have about money are nothing but inaccurate generalizations and excuses that keep them from living a truly a happy and wealthy life. In order to truly align your mind to wealth creation, you must debunk these negative myths and really look at the facts. Myth: Having a lot of money will change you (into a bad person). Fact: Money is a personality magnifier. It brings out the true person within you. If yo... more...

Finance » Wealth Building | By Adam Khoo @ Sunday, 6th August 2006 @ 7:04 AM

So what is this one asset that all of us already have at our disposal? No, it's not your double degree, MBA or PhD. from the best universities. And no, it's not the inheritance the 'lucky' get from rich dad, rich uncle or rich grandma to kick-start their business. No, this asset is so powerful that it will not just give you a 4% return like the bank or even a 20% return which you would expect from the stock market. This asset has the potential to giv... more...

Finance » Wealth Building | By Adam Khoo @ Sunday, 6th August 2006 @ 6:48 AM

What keeps most people from becoming rich is the habit of wanting instant gratification. Instant gratification is the habit of always wanting to enjoy now and not having the patience to wait for future benefits. As a result, these people spend a lot more than they invest. By spending on that new car, new widescreen television set or designer watch they get instant gratification. When it comes to investing in books, seminars, stocks or insurance products, they will... more...

Finance » Wealth Building | By Adam Khoo @ Saturday, 5th August 2006 @ 6:25 PM

Let me first ask you this question, 'why are you not rich yet?' 'What has prevented you from getting the wealth you deserve?' Spend some time to really ponder on this question and write down as many reasons as you can think of. It is important that you are totally honest with yourself. Most people tend to say: 'I have no money to make money' 'I was born in a poor family' 'I need to support my family' 'I am too... more...

Finance » Wealth Building | By Adam Khoo @ Saturday, 5th August 2006 @ 6:04 PM

Wealth habit number three is the habit of taking responsibility for your results and wealth! Unfortunately most people choose to adopt the victim's mindset of giving excuses, blaming and complaining. Remember when you give excuses to yourself (i.e. no time, no luck, no capital, no experience etc) or blame others for your lack of wealth, then you are putting others and external events in control of your life! When you are not in control, you do not have the power to change your circu... more...

Finance » Wealth Building | By Adam Khoo @ Saturday, 5th August 2006 @ 9:55 AM

Many people have the perception that the fabulously rich and powerful are dishonest and unethical. And who can blame them after hearing stories of how millionaire executives rip off their shareholders in scandal after scandal on Wall Street? Think about Enron, China Aviation Oil, WorldCom, ACCS, REFCO and the list goes on. Certainly there are unethical & unscrupulous rich people around (incidentally, their wealth & businesses rarely last), but the truth is that most self-made mill... more...

Finance » Wealth Building | By Adam Khoo @ Saturday, 5th August 2006 @ 9:26 AM

You see, making money is a game. If you learn the rules of this game, money will flow into your hands. If you do not play by the rules, you will struggle all your life financially despite working very hard. Haven't you ever asked yourself why some people earn five times, ten times or even twenty times more than others? Is it because they are twenty times smarter? Is it because they work twenty times harder? Or are they many times luckier? The answer to all these questions is a resoun... more...

Finance » Wealth Building | By Adam Khoo @ Saturday, 5th August 2006 @ 5:07 AM

Let me pose you this question. Between a pop star like Madonna and a heart surgeon, who creates greater value in a person's life? Of course it is the heart surgeon! The heart surgeon has the ability to save a person's life whereas Madonna can only make a person feel good for a couple of minutes. Why then is Madonna paid 100,000 times more than a heart surgeon? What does Madonna have that the typical heart surgeon does not have? The answer is the 'scalability factor... more...

Finance » Wealth Building | By Simon Heald @ Sunday, 16th July 2006 @ 1:14 PM

A lot of people dream of having wealth and success, yet it is only a few who can take this 'dream' further and actually work towards achieving the success and wealth they desire in their lives. For you to be wealthy, you need to be ready, willing and able to work hard for it. So what are the 5 steps to follow in order to get what you want? 1. You must know exactly what you want. How can you achieve something if you do not know exactly what it is you want to achie... more...

Finance » Wealth Building | By Simon Heald @ Sunday, 16th July 2006 @ 12:59 PM

With a high cost of living and a lot of things you want to have; what you earn from your job may not be enough for you. Every month, after paying your mortgage, credit cards and other monthly bills, there is little money left for your other needs. So, what can you do to change this situation? What are the key rules of personal finance management do you need to adhere to? 1. Set some financial goals to achieve. Although it is hard to believe, there are a lot of people who have no fi... more...

Finance » Wealth Building | By Daegan Smith @ Wednesday, 28th June 2006 @ 4:50 AM

So how exactly can you make money? Of course, there’s always the fact that you need to generate income, either by getting a job or running your own business. But just how do you keep it? Below are just some basic tips on managing your money. As you begin to develop these attitudes and habits regarding your finances, you will eventually meet your financial goals, no matter how modest or ambitious they may be. First of all, believe that you can achieve these goals and create wealth for your... more...

Finance » Wealth Building | By Mika Hamilton @ Wednesday, 28th June 2006 @ 3:39 AM

Who wants to think about getting old! This is probably the most common reason given when individuals are asked about whether they have planned for their retirement. Of course no one likes the idea of getting old but there are several things that you can do to make sure you enjoy the later years of your life without the stress and hassle of financial concerns. The popularity of 401ks are a great place to start. Make sure you are aware of how your money, in your 401k is being invested (if a... more...

Finance » Wealth Building | By Daegan Smith @ Sunday, 25th June 2006 @ 3:05 AM

Everyone dreams of earning money while sleeping or taking a nap. With the Internet, the dream is now a reality. The Internet ahs made possible for professionals and businessmen to set up a home business. Most people think that it is hard to set up an Internet home business. Truth is, it is very easy to do business in the Internet. All you need is basic knowledge of computers and the Internet and some basic marketing skills to begin your Internet home business. Below are some basi... more...

Finance » Wealth Building | By Daegan Smith @ Saturday, 24th June 2006 @ 12:20 PM

Tired of your having to rush each morning to your nine-to-five jobs? Are you getting weary of having to receive orders from your supervisor? It seems that a lot of people are caught up in these situations. There are some people who hate their superiors, and there are also those who even hate their jobs! And yet they would force themselves to endure this grueling routine because of their financial needs, their desire to be financially secure in the future. Who wouldn’t want to have... more...