Need some hot goss on what wealth creation strategies are actually working right now? Check out this new and updated list.
There are one and a million wealth creation strategies that you can try and each to its own. They all work, some better than others. They main key with strategic wealth creation is to ride the massive cultural and economic trends.
Would you start up a CD factory now? No. Would you start up a DVD factory now? No. Would you startup a Blue Ray factory now? No. Would you start up an online user driven video delivery system that uses broadband internet and allows integration with other online resources and applications?
Netflix already did and Amazon is as we speak.
Here are the top wealth creation strategies in Australia that are working right now – these will be the most viable for 2014.
Wealth Creation Strategy #1 Shares/Stocks If You Know How
The share market/stock market is completely going off now. We have seen countless records blown to pieces in the last few years, including seeing the all-time-history peak of the stock market, the all-time-history greatest continual gains and the all-time-history biggest jump.
And all this commotion in the stock market means there is plenty of money to be made if you know what you are doing – and lost if you don’t.
The size of the Australia stock market is massive compared to what it was 20 years ago – it’s no longer the small pond to play in. They even dropped the amount an option buys from 1000 to the ‘standard’ 100 (that the US uses). This signalled investors to get in while its fresh and they did.
If you don’t know anything about stocks don’t go racing in too fast – make sure you find someone who’s successfully being doing over the last few years because the game has totally change post GFC.
Wealth Creation Strategy #2 Property Development Only
Property is a touchy subject at the moment – on one hand you have bottomed out markets like the Gold Coast where people are upside down in their loans. On the other hand you have mining and development driven booms in Western Australia and South Australia with people licking their lips at the profits.
I’m sure you’ve already figured out that long-term negative gearing is going out the window and the new way to make money in property is with awesome value creation – renovations, developments, creative financing, options and vendor financing.
The pick here is property developments. In the urban and semi-urban areas more and more townhouse developments, units and apartments are going up. Yes, the very fabric of our ‘house on a quarter acre block’ culture is going out the window with Gen X and Gen Y wanting fast, easy, low maintenance accommodation to match their smart-phone, internet, facebook lives.
Wealth Creation Strategy #3 Internet Businesses In Any Colour
The traditional business model is dead – or at least choking on the ground having a heart attack – and if you aren’t on the internet you aren’t in business. Multi-million and multi-billion dollar companies are popping up seemingly overnight and the trend is showing no signs of slowing down.
But you don’t have to create a monster like Google or Facebook, nor even create a baby-monster like Dropbox or Tumblr – even getting a small piece of the online pie can suit you up for a pretty lifestyle with cashflow to boot.
Whether you attract customers online and give a new breath of life to your goods or service traditional business, start a blog, online shop, or even just funnel some affiliate marketing – there is tonnes of cash lying around on the Internet and it’s just a matter of logging on and picking it up.