It’s fair to say that for many, building wealth and setting yourself, and your family, up for financial freedom is something we can all get behind.
But when we think of the best way to build wealth, many different questions come to mind….
What is the best way to achieve true wealth?
How can money be made quickly and with minimal effort?
What is the risk to reward ratio?
Is this a sustainable solution?
These are all common questions that arise, and the answer is…there’s not one right way- there are countless ways to build wealth!
Between stocks, bonds, business investments, 401K plans and more, there is enough investment advice in the world to make anyone’s head spin.
Here are five unique concepts and books that illustrate innovative processes and perspectives in respect to wealth building.
The Lost Science of Compound Interest
Author: Curtis Ray
About the Book: In a new and compelling story about money, science, art, evolution, discovery, creation, struggle, and ultimately, triumph, Curtis will take you on a life-changing journey through some of the most complicated mathematic money concepts by transforming them into an easily implemented path to potential wealth and prosperity. Curtis brings to life, in both words and graphics, the phenomenon of Compound Interest and the powerful influence it can have on your life.
Wealth Building Concept:
Curtis Ray founded MPI Unlimited – MPI™ focuses on setting clients up for wealth through the combination retirement planning, life Insurance, the stock market, and the ability to make money work for you through compound interest. According to the website – MPI™ provides a path to financial freedom for those who commit to the path of secure compound interest.
The Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing
About the book: If you’re considering using rental properties to build wealth or obtain financial freedom, this book is a must-read. With nearly 400 pages of in-depth advice for building wealth through rental properties, The Book on Rental Property Investing imparts the practical and exciting strategies that investors across the world are using to build significant cash flow through real estate investing.
Wealth Building Concept:
Brandon Turner focuses on investing in strategic rental properties to build equity wealth as the homeowner while having rental tenants pay mortgages.
The Total Money Makeover
About the Book: The Total Money Makeover is Dave’s all-time bestselling book. It has helped millions of families get rid of debt and change their lives forever with its simple, practical seven-step plan. How does it work? By getting to the heart of your money problems: You.
Wealth Building Concept: Dave Ramsey does not focus on unique investment tactics, but rather the traditional and basic steps to building wealth including getting out (and staying out) of debt, having a fully-funded emergency fund, investing 15% of Income for retirement and paying off your home early.
12 Months to $1 Million: How to Pick a Winning Product, Build a Real Business, and Become a Seven-Figure Entrepreneur
About the Book: 12 Months to $1 Million condenses the startup phase into one fast-paced year that has helped hundreds of new entrepreneurs hit the million-dollar level by using an exclusive and foolproof formula. By cutting out the noise and providing a clear and proven plan, this roadmap helps even brand-new entrepreneurs make decisions quickly, get their product up for sale, and launch it to a crowd that is ready and waiting to buy.
Wealth Building Concept: Building a scalable business is something that is achievable for anyone with an entrepreneurial mindset. Within 12 months, this book offers a four-step, turnkey process for outlining a business concept and strategy and securing funding, establishing the right go to market strategy from an advertising and marketing perspective and getting the right products and sales in place to scaling the business for a sustainable, and profitable, future.
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
About the book: This book explodes the myth that you need to earn a high income to become rich, challenges the belief that your house is an asset, shows parents why they can’t rely on the school system to teach their kids about money, defines once and for all an asset and a liability and shows you what to teach your kids about money for their future financial success.
Wealth Building Concept: Perhaps one of the most important parts of wealth building lies in becoming educated about what positive wealth building habits are as well as educating children so they can start great financial habits on the onset.
It’s probably safe to say, if you are reading this article, building wealth is a priority for you, as it is for many. The beauty of wealth building is there’s not only one way to do it and each unique wealth building concept is not mutually exclusive. If there’s one thing that each concept and each of these individual books has in common, it’s educating yourself and learning from those who have walked the path already. Investing the time to read and learn about the experiences of those who have secured fruitful financial futures for themselves is one of the wisest ways find the right approach for you particularly in respect to wealth building.
Whether you are just a beginner in investing or simply someone who is looking for the best way to build a stable financial foundation for your family, these unique wealth building concepts are certainly ones you should read up on and consider. By making sound financial choices, educating yourself and your family, finding turnkey ways to make your money work for you, and investing in the right things, you can build a sustainable nest egg for not only yourself but your children and the future generations to come.