Wealthful Wednesday Tips: How can you become an owner in something?

Becoming an owner is, in fact, a lot easier than you think. There are several ways to become an owner in something to create wealth.

1. Investments: By investing in stocks, you are a partial owner of the company. You take your hard-earned cash and buy a share of the company. You do not maintain control (unless you own 51%). You can invest in private companies too. This is much harder and requires much more capital
2. Real Estate / Hard Assets: By owning real estate, you own the property and all the potential capital appreciation. By using someone else’s money (usually a mortgage), you can enhance your return and reduce your risk. If you are renting the property, you earn the income from the property and the capital appreciation.
3. Start a company: I love this wealth creation strategy. While this wealth creation strategy does not come without risks, it offers some of the best upside and the best flexibility. Some form of this must be in your wealth creation plans. By starting a company, you can select an industry with low barriers to entry and low startup costs (think blogging!). Or, if you have more capital to work with you can start something completely new that is a software tool online. The world is your oyster.

These are core, fundamental wealth creation strategies that every person needs to consider. All of these do not take too much money to do. You can either save early on to participate in investments then move down the list as you get more comfortable with risk.