Wealth Creation is an accumulation of assets over a long period of time. It is achieved by owning revenue channels that are not beyond our control. There are several methods to accumulating and creating wealth; for example you can increase the income you already have, add a second source of income, invest in mutual funds or real estate, and keep a watch on your spending habits.
Transforming Debt into Wealth
Debt is one of the biggest obstacles towards building wealth, and if you’re in debt you’ve got to eliminate it. Two steps to get out of debt fast is to get rid of your credit cards and put at least 10% of your take home income towards paying down your debt. Spending less than you earn is also a key prerequisite for debt elimination.
Creating wealth through Mutual Funds
Mutual have proved to be a great wealth creation tool since long. Small amount of money invested on a monthly basis through SIP can create a large corpus over a long period time. Check out our SIP calculator to see the actual values and contact us for more details.
