Step 1

The first step in creating wealth is building Wealth Consciousness within yourself. Prosperity is an inside feeling that becomes expressed on outside as material wealth and success. Any wealthy person will tell you that. When you are in presence of a truly and highly successful and prosperous person, you can feel their calm and confident presence, a knowing that surrounds them. This is what you should first build within yourself. And you can do it right now. Anyone can. Without wealth consciousness, building wealth becomes very difficult, elusive and erratic. This not a threat, it is a reality. Wealth starts within and is evidenced outside. Your mind may tell you "I want money now, so I want to act now, forget wealth consciousness bit. I don't have time or patience for that. Just show me how to make money and I will". That is what most people say, and they end up working hard all their lives with little change happening in tens of years. Life becomes a dull rep! eating event. You must build wealth consciousness if you wish to start creating an exciting and glorious life and stop living a survivor's hard life. There is no other way. Even people who win lotteries hardly keep their newly found wealth. Most lottery winners destroy their new wealth within a year! Why? Because without wealth consciousness, wealth hardly hangs around.

Step 2

Once you build Wealth Consciousness in yourself, you then create wealth using following strategies:

1. Create multiplied independent assets and efforts: Multiply your efforts and income by having multiple assets that work for you 24 hours a day without needing your further involvement. You can achieve this right now, no matter where you are.

2. Investment and growth: Take advantage of compound interest. Even one dollar can grow to a billion dollars at a certain interest rate and amount of time. You can never have too little to start with. You shall also see how here.

You should combine both of these two strategies. Have multiple streams of income and investments that grow well on long term.

Today, your financial life may be summarized as follows: all or most of your income from your job goes to your expenses and debts. That will never create wealth and financial freedom.

Within a few months, you can change it to look like that of a wealthy person, which is: your income goes to build assets and investments. These investments and assets grow that income into something bigger than it was. In this way, your money works for you. The extra cash is then used to pay for your expenses and build more income streams. So, you never work for expenses and liabilities, for that will never release you. Instead you work for assets. Then assets work for your expenses, leaving you free to do as you wish and to create more assets and income streams.

Multiple Sources of Income

A very important and fundamental key to wealth is multiple sources of income. Build multiple sources of income for your life. Multiple sources of income are your key to financial freedom. They are a manifestation of your dynamic, free and multidimensional nature.

More accurately, make sure that each income stream is a business and not a job. A job is something that requires you to be there for it so that it can make money for you. A business is something that once set up, does not need you to be there to keep going or growing. A job needs you, a business does not – that is difference. Some businesses are actually jobs. You may own a business that is a job for you. It needs you to tend to it; without your constant attention, it falls. Jobs take your time and freedom; businesses give you time and freedom. A person with multiple streams of income from multiple businesses ends up with free time that he or she can use to live well and to launch more businesses if need be. Jobs never allow such liberties of free time to diversify and be free to enjoy other aspects of life.

So, have multiple sources of income, but ensure each source is independent of you and has been built to do well without your constant attention. If your multiple streams of income are jobs and not businesses, they will literally drain your life, take away your freedom, and kill you slowly. Choose well. Love your work, but set it up so that you can be free to choose when and where to work, or to take time off for other aspects of life.

In reality, 1999 should have been a time for a cautious and skeptical participation because stock prices were simply too high but instead excitement ran high. It seemed like everyone was playing stock market and making a killing.

Those days are gone and instead many people are avoiding market when actually this stock market offers alot to get excited about today. Isn't it exciting to acquire shares of companies with solid growth potential for 10 cents on dollar? Well, that is where we are right now. Hundreds of blue-chip stocks are beaten down to multi-year lows and sentiment is as extremely negative as it once was positive. This is time to look for investments that could pay off incredibly 10 or 15 years from now.

Don't focus on current market conditions at expense of long-term potential. We should have been incredulous about stock prices in late '90s, and we should be excited about opportunities right now.

Almost everyone who owns stocks has been hammered these past two years but that is yesterday's news. There is no good that will come out of dwelling on past. There are three things you need to do right now.