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What is the best way for wealth creation?

  1. 5pow profile image56
    5powposted 7 years ago

    What is the best way for wealth creation?

  2. scramble profile image64
    scrambleposted 7 years ago

    The first step should probably be concentrating on paying off all debts. Concentrate all spare income to the debt with the highest interest first. Once those are gone you have freed up a bunch of money that you can invest. If you are young, time is an huge ally, just invest like crazy.

  3. MBA2010 profile image56
    MBA2010posted 7 years ago

    I agree with scramble partially you must save and invest some of your money, however, I think that the best way to create wealth is to work hard.  In any society, in any economy the value of a hard worker is greater than almost anything else.  I look at people that I know that have done that and been very successful financially.  If you look at many of the great philanthropists of our time you will notice that that is one of the common threads in their lives.  Investing money is a great way to create wealth but it is only half of the equation, investing time is the other half.

  4. MicahI profile image84
    MicahIposted 7 years ago

    The key to wealth is knowledge, leverage, and time, and in that order.  Knowledge to know what to invest in and minimize risks, leverage to maximize your returns, and time for your money to grow.