Over the years, we've heard about the so-called great wealth building systems. ISAs, savings, shares and endowments were all touted as a safe and sure way to build wealth for our retirement. And all without exception have crashed to the ground leaving people's savings and retirement plans scattered around in the wreckage.
Many people who just a year ago were looking forward to retiring with a good pension having invested and saved all their lives, now find themselves having to continue working. Their retirement dreams shattered.
The answer of world governments is to try to get this financial plane wreck back into the air at any cost. They are pumping billions of taxpayer's money into trying to make it flight worthy. It will not work. At best, it may get back into the air for a few more miles before crashing back to earth.
With every misfortune comes opportunity. With this disaster, we can now see that we can not trust these institutions to look after our money. If they do manage to get this plane flying, again do not get on. The old ways we tried to build wealth with are fraught with danger, run by corrupt people many of what have not a clue what they are doing and have no respect for your money.
We can now say with certainty that we can not trust our money with these institutions. Depend on them to build your retirement fund and you might as well give your money to a gambler for safekeeping. So how can we build some wealth for our retirement?
The best way is to invest in you. It's your money; you know how hard you have had to work for it. You will not risk it wantonly. Invest the money in yourself and make it work for you. The best way to do this is to start a small business. If you're currently working full time then you have the perfect opportunity to begin wealth building by starting a small business.
Let's say you have £ 500.00 to invest. If you put it in a bank at the end of the year, you might have made a fiver. Put it in shares and you'll be lucky to have any of it left by the end of the year. Alternately, you could take the money, invest it in some stock and sell it on eBay. The return should be about 30%. That's 30% every 4 to 6 weeks. By the end of a 12-month period, your £ 500.00 should be £ 3000, £ 4000 or more. How much you make obviously depends on how well you invest it. What stock you buy and how you sell it.
The beauty of building wealth this way is that you have full control. If you lose money, at least you have the consensus of knowing you lost it. This kind of wealth building will fully engage you. It will be your own portfolio, managed by you, controlled by you with all the decisions made by you. Once you start wealth building this way you will soon become addicted. You will grow in knowledge, self-esteem and confidence. You will look at the world from an entrepreneurial mindset.
After a year, with your wealth accumulating monthly, you will wonder why you did not take this route earlier. Why trust your money to corrupt and bankrupt institutions when you can invest it in someone you can trust absolutely to look after it and increase it. You are the only person you can trust to do this. Unhitch yourself from the financial scams that the banks keep dreaming up to steal your money and set off on your own wealth-building journey.