How to leverage 10K to get 100K

From all the books that I have read about how to become a millionaire and also financial self-help books, all the books seems to be pointing to one path, invest in REAL ESTATE. No matter what the strategy is laid out in the books, it simply focuses on leveraging small amount of money to obtain a large amount of asset. No other investment can do this except Real Estate investment. The strategy is to have delayed gratification, save enough money and invest 10% as down payment for the real estate and having someone else paying off the rest of the mortgage. Seems easy isn’t it? But, then again, nothing comes easy. Perseverance, waiting for the right purchase and a lot of cheapskate attitude will determine whether you will succeed or not in making the investment in Real Estate.

A Millionaire in me

When you have set yourself a dream of becoming a millionaire, the first thing you must do is to envision the feeling of having that one million in the bank. Visualization of that feeling will actually help you to give the motivation and the push forward in acting out the necessary action in accomplishing the dream. It is all hard work to achieve the dream but there is absolutely no harm in having a feeling of a millionaire inside. As you create that strong feeling of a millionaire inside you, it is just a matter of time that you will actually become one.

The First Step towards Wealth Building: Take Risks

If you look at any successful individuals, the most common trait that you can find is the willingness of the individual to take risk. As Henry Ford once quoted “Problems and risks are the thing that distracts you from the original plan.” That’s why the more longer a person have been living on a paycheck, the more reluctant he would take the risk of leaving his job and venture into a business of his own. The more comfortable you are with your status quo, the more heavily the decision you have to make in quitting your day job. But as the status quo of the industry is also right now, not many people can get rich by just working for other people. You can only get rich by employing others to work for you. Try to rethink your current position now and probably it is high time for you to take that calculated risk and dive in towards uncharted territory.