Increase your wealth.

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Increase Your Wealth

• Date 21/06/2022

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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.

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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
  Rosemund Pilcher. This is the excerpt.
• Money is not important to me. It never has been.
  Its only important if you dont 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.

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Ways to Increase your Wealth

• See, Increasing wealth is very Simple but not
  Easy. Follow these steps
• Make Money.
• Save Money
• Invest Money

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• Make Money - This step may seem elementary but is
  the most fundamental one for those who are just
  starting out. Youve 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 wont 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.

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• 3. Invest Money - Once youve managed to set
  aside some money, the next step is investing it
  so that it will grow. Investments vary in terms
  of riskand potential return.
• As a general rule, the safer they are, the
  lower their potential return, and vice versa. If
  you arent already familiar with the various
  types of investments, its 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.

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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 securitiesoften
  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.