3 Major Investments of the Wealthy

The wealthy are wealthy because they have superior skills in making and keeping wealth.All of them make it a priority in life to invest in the following 3 things.They cultivate habits that allow the to automatically invest in them.

1. Wealthy people invest in income producing assets.

It’s easier to grow your wealth if you have many sources of income.It easier still if you have many streams of passive income.Now all wealthy people quickly find asset classes that they are comfortable with and make it a point to acquire as many income producing assets in that class as possible-and the bigger the better.

2. Wealthy people invest in themselves.

Beliefs,knowledge and experience make a big difference in the wealth of a person.For more on how beliefs influence a person’s wealth position please follow this link to an older post  https://wealthymatters.com/2011/01/29/how-wealthy-people-behave-that-the-poor-do-not/ .To make money a person needs to invest the time,money and effort to master money making skills .These can range from selling to book keeping to the details of how different financial instruments work and the laws that govern various aspects of investment and business.Additionally a person might have to invest time in learning more technical stuff too.So if you want to start a soap factory you may have to read up on the different types of soap and how they are made.Experience comes when you hang in there for sometime.This is when life administers the test first and teaches the lesson afterwards.To get to be really good at what you do its impossible to avoid investing the time and effort and pay the price  necessary to  gain enough experience.Wealthy people make it a point to invest in improving their own ability to make money.

3. Wealthy people invest in relationships.

Not all wealthy people are born well connected but there is no person who has become wealthy without a powerful network.Relationships of all kinds are important to the wealthy.Family and friend provides the support in times of stress and in case of  family businesses the trusted people to manage the business.To grow a business or to be an investor of any size a person needs the help of a lot of people with diverse skills and the the better a person’s network the faster he can put together teams to seize opportunities. Wealthy people also make it a point to seek out mentors to help them grow and become better.