How "Knowing Yourself" Leads to REAL WEALTH

Now, it's OK to have expensive hobbies, it's also OK to be only mildly interested in investing for your future. The key is to know this about yourself so that you can USE THIS TO YOUR ADVANTAGE!

In fact, I believe it's perhaps easier to make a millionaire out of someone with "some interest" in all things financial than it is to turn someone who is passionate about property, shares or business into a millionaire.... a big statement, I know, but in my experience is it's often true!!

The primary reason for this is that becoming wealthy is boringly simple!

This is not to say that if someone has a passion in an area they can't get wealthy but consider the following:

A person who has a passion for shares won't be content to buy and hold the top 15 blue chip stocks. Ohhh no, they'll need to find the "up and coming" companies - the ones that will make them serious money and they'll need to tweak the portfolio - so they can our perform the market. They'll thrive on riding the highs and sweating the lows...

The same goes for property enthusiasts.

Owning an investment property is about as interesting as watching grass grow... but buying and selling property creates a really, addictive rush.... it's so much fun when you make money, and a real downer when the market goes the wrong way or the renovation costs blow out ....

And what about business? You guessed it, exactly the same...

Entrepreneurial types love to create things, to come up with an idea, workshop it and put it out to the market where your clients will love it, or hate it... they often love the thrill of a new business venture which is much more exciting than keeping an existing business going well...

As a novice you buy the known performers and sit on them. As an enthusiast you are more likely to try trading and renovating and other more interesting and challenging markets. And for many people, stepping up a level in complexity sees them out of their depth knowledge wise which means they actually end up making less money than if they had just kept it simple.

In a nutshell: A serious passion in investing or business can come at a price.

(Note: If you're an enthusiast don't loose heart! Keep learning and growing and you could become seriously wealthy, but as well as going to the next level, also be sure to take action on the basics as well - the fool proof steps of buying and holding good assets that will give consistently good returns over time).

Ok, so that may make sense, but how about turning the person with "some interest" in investing into a millionaire?

Well, for those with just a bit of time to invest it's simply a matter of getting you focused and excited enough to take action. Then, once you've taken action you will likely loose interest. Which is PERFECT.

An investment property doesn't need you to look at it every day to make it go up in value. It doesn't need to be sold and upgraded either. If you buy it and give it to a property manager and TOTALLY forget about it, it wouldn't be ideal but it would still double in value over a 10-15 year period. A share portfolio of blue chip stocks would be exactly the same.

Becoming a millionaire is astoundingly simple. It's as simple as buying a good assets and holding them. And when they appreciate use the equity you've made to buy some more.

It can be made more complex but it needn't be.

Now the next step is to work out what action to take....