Do you think the same way?

Do you find that a lot of the time you think about and handle money in a similar way to your parents?

For most people, even if we don’t like to admit it, the answer to this question is YES.

While our parents often have many great lessons to share, money is one area where you may need to think twice BEFORE taking their investment advice.

Before you accept their investment advice, ask yourself if they are in a financial position that YOU would like to be in at their age.

Often your answer will be NO. If this is the case, it is important to seek out a mentor or role model who IS in the position you would like to be in.

Study what they do, learn from their experiences and replicate their attitudes towards money.

You see, approximately 90% of people earn LESS than $15,000 when they are over 65.

That means that approximately 90% of people are passing on investment advice that is likely to land their children in the same financial position.

Now, there are basically 2 ways to create wealth:

1. Saving

2. Gearing and leverage

In my experience I’ve found that many people are taught to follow the first strategy. Their parents encourage them to work hard, save a percentage of their paycheck each week, buy a home and pay off their mortgage.

While this is a safe strategy it is VERY slow and is unlikely to mean you will end up building a substantial amount of wealth.

Obviously you may need to follow this strategy at first to save up a deposit for your first investment. However, if you want to build wealth you will need to follow the second strategy.

The idea is to use other people’s money, legally and honestly through gearing, to build your own asset base.

You can find out more about how you can build your wealth more quickly at:

http://www.RealEstateSecrets.com.au/accountant

Warm Regards

Hans Jakobi – Your Wealth Coach®
Real Estate Secrets