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Increase Your Wealth

Find out why wealth is so important and what are the unique ways of increasing it.

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Increase Your Wealth

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  1. Increase Your Wealth Date – 21/06/2022

  2. What is Wealth? Wealth measures the value of all assets of worth owned by a Person, Community, Company, or Country. Wealth is determined by taking the total market value of all physical and Intangible assets owned, then subtracting all debts. Essentially, Wealth is the accumulation of scarce resource. Unlike Income, which is a flow variable, wealth measures the amount of valuable economic goods that have been accumulated at a given point of time.

  3. Why Wealth is so Important? I think I have the perfect answer to your question. It is found in the novel, The Shell Seekers, by RosemundPilcher. This is the excerpt. “Money is not important to me. It never has been. It’s only important if you don’t have any. Because it buys lovely things. Not fast cars or fur coats or cruises to Hawaii or any of that rubbish. But real lovely things like independence and freedom and dignity and learning……. and time…….”

  4. Ways to Increase your Wealth See, Increasing wealth is very Simple but not Easy. Follow these steps – Make Money. Save Money Invest Money

  5. Make Money - This step may seem elementary but is the most fundamental one for those who are just starting out. You’ve probably seen charts showing that a small amount of money regularly saved and allowed to compound over time eventually can grow into a substantial sum. Save Money - Simply making money won’t help you build wealth if you end up spending it all. Track your spending for at least a month Find the fat and trim it. Set a savings goal. Put saving on automatic.

  6. 3. Invest Money - Once you’ve managed to set aside some money, the next step is investing it so that it will grow. Investments vary in terms of riskandpotential return. As a general rule, the safer they are, the lower their potential return, and vice versa. If you aren’t already familiar with the various types of investments, it’s worth spending a little time reading up on them. While there are all kinds of exotic investments, most people will want to start with the basics: stocks, bonds, and mutual funds.

  7. Ways Of Investing Stocks are shares of ownership in a corporation. When you buy stock, you own a tiny slice of that company and will benefit from any rise in its share price, as well as any dividends that it pays out. Stocks are generally seen as riskier than bonds. Bonds are like IOUs from a company or government. When you buy a bond, the issuer promises to pay your money back, with interest, after a certain period. As a very general rule, bonds are considered less risky than stocks, but with less potential upside. Mutual funds are pools of securities—often stocks, bonds, or a combination of the two. When you buy mutual fund shares, you get a slice of the entire pool. Mutual funds also vary in risk, depending on what they invest in.

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