Wealth will open up avenues for you to achieve a comfortable lifestyle. Stealth is needed to tread carefully through the jungle of finance, Wolf's of Wall St, get rich schemes & scams. With the greater knowledge you gain the more you Gain.
The top Billionaires never stop learning. Warren Buffet reads constantly and below is some suggested reading but nowadays you have Youtube, podcasts, audiobooks whereby you can Learn on the Go.
Rich Dad, Poor Dad by #RobertKiyosaki Main work categories:- Employee, Self Employee, Business Owner, Investor with Pros & Cons but better to have Assets working for you as Passive Income that Liabilities e.g. Pay Rent or Get Rent
Crushing it by #GaryVaynerchuk another guide to income with comments by people who have made it along with practical advice on sections of social media including Facebook, Twitter, Instagram etc
Think & Grow Rich by NapoleonHill a self-help author with many books to his name that get you into the mindset of being rich. First published in1937
Write a Business Plan vital, it helps Focus on business idea, viability and direction. Needed for a business loan
Passive Income & Asset. Attention <1 day p.mth. Risk - Property prices fluctuate but mainly up & you still have a roof over your head. Beware of changes in the country legislation and taxes
Passive Income & Asset. Attention every hour every day unless automated. Risk - Share prices fluctuate daily & stock could be lost easily and out of your control
Passive Income & Asset. Attention every hour every day unless automated. Risk - Prices fluctuate badly at times but can prove a good long term investment
Passive Income & Asset. Attention <1 day p.mth. At present no major risk but no major profit based on Bank of England rate e.g. 100k @ .01% (7/2020) =£10
e.g. Asset - Buying Property as Buy To Let = Receiving Rent £1,000 per month less Mortgage + hopefully Capital Gain
Liability - Renting above property = Paying £1,000 per month plus expenses Gas, Water, Electrics, Council Tax etc
Therefore the difference is £2,000+ But if your want to save for a deposit you DO have to Save and below are a few examples of unnecessary expenditure.
It is your choice DO you want to be in the RED or in the PINK
Now the above scenario on daily savings gives you £2,683.40+ which you could invest in a Lifetime ISA & receive 25% bonus e.g. £4,000 saved + £1,000 max bonus makes £5,000 and with a partner that could be £10,000 per year. A healthy saving to an Asset for a little effort. On a 95% mortgage that would buy you a £200,000 house or flat by next year! Save 2 year Buy House & Buy To Let (Asset) (Jan 2020)