Day Trading Tips

15 WEALTH CREATION TIPS by Peter Nduati

We would all like to be wealthy, to have assets we call our own, to have businesses to call our own. In this video, businessman Mr. Peter Nduati gives us his tips on how to be successful in wealth creations, and they are:-

The tips are:
1) Trust your gut - most of the time, that feeling is usually right
2) Invest in areas that you know - It is not wise to invest in an area you are not trained in, or have no clue how it works, you set yourself for failure.
3) You do not have to invest in everything out there - you do not have to be in all investment schemes - pyramid schemes, quail eggs and many other ventures have led to losses for many.
4) Build and guard your reputation - sometimes, your investments will be carried by your name, your reputation, guard it.
5) Know that experience and life will be your greatest teacher
6) When the going gets tough, the tough get going.
7) Be passionate in all you do.
8) Expect gains and losses
9) Loose your ego - there are lots of sacrifices that wealthy people make in order to be wealthy, and if you have your ego, it will stand in your way
10) Be Frugal - Reduce your spending on things that drain your money
11) Recognize that wealth is built at a steady pace - do not jump into get rich quick schemes
12) Believe that wealth is possible
13) Adopt a healthy lifestyle
14) Avoid debt - only get into debt to invest
15) Rent to save - At the beginning stages of your wealth building, it is cheaper to rent then eventually you can own a mortgage

Benjamin Franklin said "industry and frugality are the true means to wealth"

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