Rules to Get Rich and Grow Wealth

richWe are all told that one of the easiest ways to make money and accumulate wealth is to open a business, be it or any other. That statement is true to a greater extent, but there are those who can’t afford what it takes to start their businesses. One if the common goals in life is to become rich and financially stable. To achieve that state, there are key rules you must worship and follow religiously. Here is what you need to do;

Build Discipline

The first and most important part of building wealth is developing a habit, a discipline. Without discipline, no matter how much you earn, wealth will never accumulate. If you want money, you must earn it. In simple terms, you just discipline yourself and earn your way to the top. There is no person who will come begging to give you money for nothing, you must understand what it takes to get the money.


Most people are interested in living the moment and not caring about tomorrow. When they have money, they blow it and live to enjoy memories. If you have to get rich, you need to start a serious savings plan. You have to pay yourself first by ensuring you set a certain amount aside for your development. Everyone will ask for your money and no one will just give you.

Spend Less than You Earn

You should always be saving something and this comes from always spending less than you earn. Though you need discipline to save money, at the same time, you must spend less than you earn. If you find yourself spending more than you earn, it means you will get into debt and that will be detrimental to your development.  If you have to buy something, ensure you get the best pricing.

Make Money Work for You

You need to invest and make money work for you. If you are not making money while you sleep, if means you are working for money. The moment you stop working, money stops to come to your side. You should also learn what it takes to avoid losing money. One of the biggest subtractions to people’s income is tax. You should therefore devise ways to minimize the taxes you pay. You should also surround yourself with people who are better than you. These people can be very important in pushing yourself to the limits and helping you attain your goals faster.

Strategies to Protect Your Wealth

wealthIf you are in business, be it small such as  or gigantic such as Google, you will understand the importance of protecting your brand, and more importantly your assets. Fundamental asset protection starts with implementing simple, affordable and true-and-tried strategies that will bear results. There are already laid down plans you can use to have your business covered.

The best offense is usually reliable defense. The world is growing increasingly litigious. The more assets you have, the more tempting you become a target for those looking to open lawsuits against you. There are a couple of ways you can use to protect your business from lawsuits and other forms of exploitation. Here are some of the ways to go about it.

Increase your liability insurance

The first line of defense you should employ in litigation should be insurance. You need to call your insurance broker and increase your liability limits. Ensure that your umbrella liability covers an amount that reflects your actual net worth. For example, if you are looking forward to getting $10 million from your Estate, inform your insurer that you want a $10 million umbrella liability policy.

Separate Assets

Consider keeping all the assets separate. Depending on the state you live in and your wealth source, when you deposit money in a joint account, this money might instantly become half theirs. For some people, this may not be an issue, but to others, it is a huge problem. If you would like your spouse to have some ownership of your windfall, talk to your attorney and keep assets in a separate account.

Protect yourself from renters

currencyIf you are looking forward to investing in a rental property or if you have a rental property, you need to create a business entity such as an LLC or corporation. This is meant to shield your assets from disgruntled tenants. In case a renter sues you for say $5 million, they can only attack the entity that holds the real estate because the rest of your wealth is well protected. Create a different business entity for every rental property to protect every single property.

Formalize all informal partnerships

Note that business partnerships are always ticking time bombs. Just like the way joint accounts are, you are entirely responsible for the actions of your partner. Unlike what we know with joint accounts, a lawsuit against your partner can equally put all your assets at risk. An example is, suppose you and your friend do have an informal agreement to provide some form of consulting services. In case your partner is involved in some mess on the way to a client, all your assets can be at jeopardy. Always avoid partnerships. Form an entity such as an LLC or corporation to protect you legally.

It is essential to create business entities to shield assets. A business entity will shield your assets from lawsuits against your company. You should also review all jointly held accounts. Any money that you deposit to your joint account with your children, roommate, elderly parents and business partners is all at risk. If the joint owner by chance files for divorce or incurs a tax lien, the whole account can be wiped out.

Most Rewarding Sectors to Invest

real estateMost of the people out there think that investing in stock is a sure way to become a lifetime investor and millionaire even at their old age. Well, this is not always the case. No matter how strong the economy is, no specific stock can ever claim to be the perfect and safe investment. Individual companies may get out of business; they may undergo management changes, internal fraud, lawsuits, competition, and technological changes among others.

So if businesses face all these types of risks and uncertainties, which are the safest investments to grow into? Let’s find out!

Safe Investments

The U.s government treasury bonds are one of those investments considered to be 100 percent safe. This is because their returns are guaranteed and predictable. The certainty and predictability of investment are what determines if it’s worth it or not. A good example is to ask ourselves, what is the assurance that 20 years from now people will be using social media? But one thing we are sure about is that in the next 1000 years, people will need food. Some of the best investment areas are about basic human needs. These investment areas include;

Food Industry

Businesses founded along food products such as grains, beverages, food processing and packaging, and related products will always continue to make profits. The food industry is very essential to human beings and will continue to flourish. Investing in the food industry is one of the best investments you can make today. Besides food production and packaging, another critical sector to try your hand is in agribusiness.

Textile Sector

textileThough fashion trends come and go, people will still need to wear clothes. When we exclude the dynamic and ever-changing fashion industry, the textile industry, in general, is a very lucrative industry. The textile industry is big enough and includes production, processing of raw materials such as linen, cotton, and silk, among others.

Fast-Moving Consumer Goods

Commonly abbreviated as FMCG, these goods include a variety of products we need on a daily basis such as soaps, cosmetics, toiletries, batteries, dental hygiene, paper products among others. Though the profit margins are low due to a lot of competition, this type of investment is still worth it.

Technology Sector

Technology is the primary drive for innovation and for innovations to happen, technology must keep on getting better. The technology sector is large enough driving technology businesses such as manufacturing of hardware, computers, software, and systems. Companies that are making millions from technology include Google, Apple, Microsoft, and Facebook among others.

Health Sector

People will always be in need of health services. The population is aging fast, and with rapid developments in biotechnology, the health sector proves quite essential to invest. Even without a medical background, an investor may think of a specific area of the pharmaceutical industry and invest. These areas include drug manufacturing, institutional services, and biomedical companies among others. Regardless of economic conditions, people will always need medicines and medical services.


Best Ways to Grow Wealth Fast

wealthMany of us are seeking ways to grow wealth fast and thus trying to find all available shortcuts. When you disobey the law of things’ development results in a disaster end. Building wealth requires time and patience. Just like when you plant a seed, it takes time to watch it grow. Our shortage or lack of patience is among the leading reasons we don’t fully achieve our financial goals. The lack of patience makes us more natural prey for fraudsters, investment bubbles and all other types of schemes out there that finally lead us to lead everything.

Strategy to Build Wealth

The greatest wealth builders focus on saving more and earning more money in the process. When they make more money, it ensures that they have an increased income-expense gap leading them to have more wealth. Saving more includes minimizing expenses to the bare minimum. They do not buy crap or take loans on things that do not produce wealth. With higher earnings and lower costs, it means that more money is saved and invested in the right places.

Investing In Stocks

Cutting your fancy habits and saving a few coins can help get started in building wealth? While there is a limit on how much we can keep, there is no limit to how much we can earn. One of the most natural and most effective ways to grow wealth is by investing in the stock market. Though investing in the stock market will not make you an overnight millionaire, it can finally make you a millionaire through a slow and steady increase in value on your shares.

Investing in Real Estate

Real estate is a lucrative field that can make you very rich, but you will need a little more money to get started. There are a couple of ways to get started in real estate as a beginner. First, you can decide to become an agent, get the required licensing and start selling other peoples’ property with the benefit of earning a commission. You can also get into real estate through flipping houses.

Financial Education

goldFinancial education is essential in making you savvy in spending. Financial literacy is one of the best investments you can make today. With financial knowledge, you will be better placed to know which investment products are right for you and which ones are average. Also understand that debt is a devil. Having no debt helps you to organize yourself to achieve more financial freedom. There is good debt and bad debt. An example of bad debt is a credit card that compounds at a faster rate than what most investments offer.

Invest in Yourself

One of the best advises you will ever get from financial coaches is that you have to invest in yourself to grow. Not every investment needs money. You can make some simple changes to your lifestyle and have your life improve drastically and in turn make you more efficient in making money. If you have a job, it is good you keep changing and looking for better pastures. Invest in as many side businesses as possible.

What you need to Know About Doing Business in Japan

japanesePeople who have spent time in Japan or working with the Japanese know that their motivations, thoughts, and priorities are often abstracted. Japan, commonly known as the land of the rising sun, is a country well advanced in technology and culture. Sometimes, even those people who have lived in this country admit that doing business is very tough. You’re never sure what’s going on in business meetings be it during presentations or negotiations. When you ask, you are not guaranteed to get a straight answer. You might not even get an answer at all.

Japan, being the fourth largest economy in the world present many business opportunities. Doing business in Japan can be very lucrative, but there are always challenges to outsiders. If you are looking forward to doing business in Japan, there are a couple of things that should be your guide.


Dress Code

While in Japan, the expected dress code is one that is modest and formal. Also, avoid doing excessive jewelry or makeup, or wearing bright colors. The idea is that you don’t stand out too much.  Men should avoid combining white shirt with black tie or suits as these are attires reserved mostly for funeral services.



meetingThere are many seniors and a vast population speaking in English, but the Japanese language remains the predominant language. For this reason, it may be seen as one of the barriers to doing business in Japan. If you target working with international companies and multinationals, you will be eliminating the depths of the language barrier. Irrespective of the language used in business meetings, you need to have a basic grasp of the Japanese language to be considered one of them.


Business Cards

Business cards are an integral part ton doing business in Japan.  Once you get to the negotiating or business room, your business colleagues will introduce themselves and bow. One of the most important things to do at that time is to exchange business cards. Business cards are highly rated in Japan and present a useful and vital first impression. While giving out business cards, use both hands and face the receiver.

Social Settings

While in the spirit of keeping up with a sociable life, your hosts may decide to take you for dinner. In such a scenario, it is essential to understand that the same rules and etiquette as those of business meetings still apply.  Maintain the same boundaries of privacy and respect to seniors at all times.