The decision to become an investor involves a change in mindset
By this, I mean the way you think.
When it comes to thinking about investing the ultimate aim is wealth creation
I had the privilege of attending a Seminar organised by Michael Masterson, bestselling author Seven years to seven figures: the fast track plan to becoming a millionaire, and founder earlytorise.com
He classified wealth as any activity or venture you invested in that gave you equity.
In order words wealth is a function of having assets, that produce income whether you worked or not.
Before we go on lets quickly look at what wealth is not…
Wealth is not…
Having high income
Having physical possession of luxury cars
Owning a self employment business
Your personal house
However, wealth is when
You have financially valuable skills…
Equity in a business
Income producing real estates
Intellectual property and licensing rights
Savings in the bank
Marketing skills
The important distinction about wealth is that you have asset that add value to your net worth.
How does an investor recognize the subtle difference… by having a rich mindset?
Here is what my criteria is
#1 you recognize reality, that every time you become aware of investment opportunity- you have a chance to make yourself richer or poorer
#2. You have the emotion to take action and seize the opportunity
#3. You have the capacity to analyze the situation and make the right judgment
These 3 skills are important when you start as a beginner investor. They will save you from losing money, and give you the confidence to stay the course in your investing activity
Think rich and grow rich
Akin Osho