Building Wealth – Millions of people all over the world seek the key to building wealth, yet it remains an ever elusive achievement to even those that have more resources than the average Joe and Jane. In fact, it doesn’t matter if your black, white, Latino, Asian, Christian, Buddhist, Muslim, Brazilian, Japanese, Kuwaiti, British, German, Spanish, Italian, Cuban, Chilean, American, or Canadian, the key to building wealth is the same no matter your nationality, ethnicity, race, or religion. Yet so many people seek so many different solutions such as skipping from Merrill Lynch to Goldman Sachs to J.P. Morgan, to seeking out independent financial consultants, to speculating in assets they don’t understand, to buying investment newsletters to do their research for them. And the great majority of people that have been searching in this manner to build wealth are still searching today.
Why?
The answer is quite simple. All of these investors have a common denominator of failure and one lacking common denominator that is highly predictive of success. Their common denominator of failure that binds them together is the fact that all of their searches to build wealth were motivated by the desire to find the easy way out to build wealth. The placement of their money in someone else’s hands to manage, the purchase of newsletters to provide their stock picks for them, and the greed driven behavior of gambling in speculative assets. Their common missing ingredient and their reason for lack of success, is their refusal to seize personal responsibility for learning how to manage their own money.
