Advantage :partner with others to build wealth

After a day of hardworking 9 to 5, I know you must be getting tired to do anything else other than go home, relax and sleep. But as you probably should know by now, that 's not the way to build wealth. Sometimes, we're just tired, lazy, and lack of self-motivation. In fact, it's quite hard to do it alone. That's reason I suggest partnering with others. Find people who has similar desire as you to get ahead financially. Form a meeting with them on a regular basis, it can be every week or every other week. During the meeting, discuss what some thought you have about business, investing for long time but haven't done much activity. Your partner should share his or her thoughts with you. After every meeting, list out Action Items that need to be done by the next meeting. Then, consider the possibility partnering with them to do things you have thought about doing. There are many advantages of forming partner than working it out alone:
1) Action items are like your homework. You should get it done or your partner will be disappointed you don't do your assignment. In other words, you're accountable. You will be more motivated than if no one hold you accountable.
2) Two people will have more thought, ideas, creativity than one
3) If one of you is busy in some time because of job, the other partner should help so things are moving forward
4) Your idea, thinking, are checked and validated by your partners so your chance of getting it right should be higher than if you do it alone.
I 'm starting to partnering with few of my acquaintance this year to work on some investment together. It's exciting to meet and work with people who has similar desire like I do to build wealth. If you haven't done so, I suggest you look for people in your network and start meeting with them regularly to get things going and rolling. Good luck in year 2008.

Just Trade It!

If you want to become professional golfer, what would you need to do? Just Swing it! It takes practise , practise, and practise to improve your golf skill to achieve a higher and higher level and become good at it. No one is born as a Pro. That's the reason Tiger Wood become #1 ==> because he practise golf every single day. To become a successful trader in stock market, what would I need to do? Just trade it. Make mistakes, correct it, improve it and become a smarter and informed trader next round. Few weeks ago, I was reading about the subject writing covered call to generate extra income for the stock I already bought. The idea sounds enlightening. But I tell myself, if I don't do it, I won't learn it. So last week, I jump in and write my first covered call for this stockAHR Even now, I still don't know sure if I make a right decision by writing 2 contracts on this stock. Regardless of the result of this trade, I"m learning and I practise. I get to see how broker credit premium to my sold options. The options will expire in few days and it seems that most likely the option will expire worthless. This means I could have the opportunity to write again next month! So, whenever you learn idea about investing, the best advice to start small, expected to make some mistake and correct from it. This learning process is priceless to build your wealth tonight.

Increase your net worth by increase your network

There is an old saying "your net worth is the average of 5 people you hang out with every single day" One of the critical factor to increase your net worth is to increase your network. I work in a traditional company where most people around me are employee type and has not much interest to create extraordinary financial success. Therefore, I like to go to seminar to meet with people, who has the similar desire like I do to get ahead financial life. Every weekend, I like to go on http://www.craigslist.com/ under event section, I search for real estate, stock, Internet business opportunity, networking group to attend. Most of the event are during weekday 529pm. I make a habit of going to event at least once a month (although I should have gone more often) to meet and network with more people. Some of the people I met become my good friend. It is fun, educational, and could be a rewarding way to spend your 529pm to develop relationship and expand your circle of friends who may give you a helping hand to build wealth. You may consider doing this activity at your 529pm.