Growing Net Worth

The steps to increase one's net worth are simple. Simply make sure that all inflows exceed outflows. The concept is very simple, the practice, and more importantly, the practice in an accelerated time environment, is rather difficult.

Some experts maintain that the best way to increase a financial picture is to do it slowly. Contribute to your 401K enough to get the company match. Own a home. Identify places in your budget that you can cut down upon to save an extra $2/day which, compounded at 8% will leave you with more than enough to retire.

Other experts will send you mass e-mails maintaining that the best way to get rich is to invest your money in XYZ stock where you are guranteed a 2,000% return in less than four months...that flipping properties and bootstrapping is the best way to get there.

I would prefer to take a rather balance approach. I desire to increase my networth by following the proven plan of slow growth as well as to take calculated risks with my investments to help myself retire well before I am 60 years in age.

The best way to do this? Education. Plain and simple. Read A LOT. Talk about ideas A LOT. BE CURIOUS...A LOT. The concept is easy. Desire to learn. But, like increasing your net worth...the concept is simple...the practice is a little more difficult.

Until next time,
Thor