Basic Principles for Growing Wealth - Shaun Stenning
According to Shaun Stenning , A Serial Investor and Entrepreneur. One of the goals many of us have is to grow our wealth over time. In many cases, it’s more about the financial security and the ability to live a comfortable lifestyle, than it is about racking a huge net worth. Regardless of your goal, adherence to these basic principles can take you a long way if you want to grow your wealth over time. Principles for Growing Wealth 1. Live Within Your Means This is the most basic of basic financial principles. It comes up over and over again. However, it bears repeating. You can’t grow your wealth if you’re constantly overspending. The ability to grow wealth depends on having assets rather than liabilities, and when you live beyond your means, all you end up with are liabilities. Shaun Stenning said. 2. Take Calculated Risks It’s much harder to build wealth when you don’t take some risks. I’m not talking about trying to pick a winning stock and using a great deal of margin to try...