Samantha Marlon on Clubhouse

Bio

Financial independence is a goal many strive to achieve, yet only a few accomplish. In my experience, the most common reason why people fail to achieve this is due to a lack of knowledge about wealth creation, while for others, it is often due to a lack of confidence about creating wealth.

No doubt, many of you would agree that a successful strategy for creating wealth is to cut your losses short and let your profits run. In fact, according to the Free Dictionary, wealth creation is the "accumulation of assets (especially those that generate income) over a long period of time".

However, many people still invest in assets that lose money rather than financial assets that generate growth and income. But there are three laws to wealth creation that I want to introduce you to that will enable you to stop losing and start marking money.

Stop losing and start making money

Interestingly, many people are willing to spend years studying to gain a formal education with the expectation that they will obtain a job that will pay enough to enable them to sustain a desired lifestyle. Yet when it comes to educating themselves about creating wealth, they never quite find the time. Instead, the majority seem willing to live from pay cheque to pay cheque – which means they have to work harder and longer to create the extra income that will satisfy their needs. 

The desire for individuals to have whatever they want now and pay for it later means that many forego the required planning process to ensure they have sufficient wealth in retirement. But this needn't be the case, as it is never too late to get your investments in order.

Based on experience, I feel that many people do not give enough time or thought to the "laws of wealth creation". They take it for granted that because they already understand them, they do not need to give them the attention they deserve.

But let me ask you – how many of you are truly building a nest egg to ensure you are financially secure in your retirement years?

The three laws to successful wealth creation



The three laws include:

Spend less than you earn, 

Invest your surplus wisely (at least 10% of your income), and 

Leave it alone so it can grow. 

Ask yourself, which wealth creation rules do you follow on a consistent basis?

Unfortunately, the majority of people do not follow the first rule of spending less than they earn and, are therefore, unable to move on. For those who do follow the first rule and move onto invest their s