Working harder and longer is not going to make you wealthy!
Written on the 26 June 2011 by James Cagney
John D. Rockefeller said "If you want to become wealthy....you must make money work for you. The amount you get paid for your personal effort is relatively small compared with the amount you can earn by having your money work for you".
Eventually you will have to sell the large house, move to a not so great neighbourhood, drive a smaller and older car, your kids won't come to visit you (the're graduates now and it's beneath them to go to that side of town), you will have to take a job delivering mail in letter boxes (you can always pretend it's for exercise if anybody you know from the old neighbourhood sees you). So have a paradigm shift in your thinking NOW before it's too late or you have to lower your standard of living later.
One method of acquiring wealth is to purchase multiple investment properties. Not only will it reduce your income tax when you are on the "way up" (through negative gearing) it will give you income when you need it later in life (your golden years). It is possible to take out "Interest Only" loans and still own the property by buying multiple properties. You just wait for the capital growth over time and sell one property to pay off two properties. James Cagney can explain this "compound growth" concept to you - after all the bankers have got rich using the concept of "compound interest', you can use the same principle to gain wealth right now and starting today. Email James at: firstname.lastname@example.org and he will give you valuable, life changing advice that will ensure your "dreams" for retirement do not turn into a "nightmare".
Go to www.jamescagney.com.au for more information on planning for your future. The "News" section has interesting articles on building wealth through property. Please click on the highlighted words to go to the section you want.
Author: James Cagney