September 18th, 2009 by Bob Bly
In a previous post, ?The 4 Secrets of a Successful and Happy Life,? I wrote that one of the 4 conditions required to enjoy a happy and successful life is having money.
But how do you achieve a greater-than-average net worth?
Here are 7 suggestions:
1?Acquire a valuable skill that enables you to earn an income that is at least 2X greater than the national average and preferably 3X greater.
2?Save more than you spend ? at least 10% of your gross income annually.
3?Start your own business.
4?Have multiple streams of income and continually add more.
5?Don?t buy a lot of useless crap you don?t need. It clutters your life, costs you money, takes up space, and depreciates in value.
6?Buy services (e.g., a lawn mowing service) that free you from unproductive labor so you can spend your time on more profitable or enjoyable pursuits. Buy time, not junk.
7?Invest in real estate and other assets that appreciate in value (e.g., gold) or generate income (e.g., vacation rental property).
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