Anyone who has gone through the steps of being educated in their profession, trade, or vocation, will undoubtedly have a large and growing personal collection of books, journals, and materials for their reading pleasure. As a student, you are part of a captive market, forced to purchase these resources at top dollar.
I recall as a student thinking that I was an unwilling pawn in a get-rich-quick conspiracy for the authors who were flogging their wares like carpet salesmen in a conference room at the airport hotel. I now have a different perspective, the authors are relatively low on the food chain to get paid for books sold.
I am an advocate of using the library as much as possible, not only to read from the current selection but to acquire books and references at a substantial discount, often 2-5% from the original listed price. Still, there are limitations, particularly if you want to get initial insight on the leading thoughts and innovative approaches in your area of interest.
For this reason I propose a very proactive and potentially lucrative approach: review manuscripts for publishers. If you can demonstrate expertise in a relevant area, it would be very helpful to support editors and publishers. Reviewers are asked to read and comment on the technical accuracy and usability of the material, and recommend changes or modifications.
The more complex the subject, the greater the need for substantial editorial review - hence the opportunity is growing. As you review this material, you can incorporate it into your own knowledge base, and continue your professional growth courtesy of the good graces of your editor.
The only question is whether this is worth your time. A manuscript can generally return a few hundred dollars per assignment, depending on the publisher. This may be a pittance when compared to the hourly income a professional can demand. However, as a method of learning new concepts, upgrading skills, and entrenching professional competency; reimbursement is a bonus. For my personal situation, I am able to credit book reviews towards the renewal of my professional certifications.
Some publishers even add a bonus to reviewers; any books reviewed are provided upon publication. This adds to the growing collection and can make for an impressive library (or unimpressive basement clutter). But consider the alternative of purchasing at normal rates. A collection of 10 books/year averaging $50-60 apiece obtained over a span of five years can net a few thousand dollars - enough to justify attending a "conference" in a destination location.
But back to building wealth - knowledge is a fundamental foundation of wealth as it cannot be retracted or removed. Building knowledge increases opportunity and marketability, and adds to your chances of prosperity.
Showing posts with label Thrift Wealth Get Rich Slowly Faster. Show all posts
Showing posts with label Thrift Wealth Get Rich Slowly Faster. Show all posts
Sunday, March 30, 2008
Sunday, March 16, 2008
Your Next Million in Net Worth
I am interested in growing my Net Worth by a million dollars within the shortest time, through the application of intelligent and rational decisions based on research and opportunity.
This blog is intended to attract like-minded individuals who seek an alternative to reckless schemes, and stagnant approached. Remember, net worth is not only about income, it also includes:
- Debt management (reducing or eliminating the cost of debt)
- Discounted acquisition of appreciating assets (investing wisely in things that will grow in value)
- Deferred or delayed purchases of depreciating assets (holding off on things that decline in value)
- Sharing, renting, or re-using where possible
- Considering alternatives to modify personal tastes to live within your means.
So what am I looking for? As I hit the big 4-0 (not immediately, but I can smell the rain), I believe that I am at a point in life where I can offer wisdom and seek beneficial advice in equal amounts. I am open to everything and anything that - if faithfully applied - will build my Net Worth.
The biggest point is that there are no limits to building wealth. What doesn't come from an income or inheritance, needs to be obtained from other means including investments, entrepreneurship, partnerships, bartering, or any other legal and ethical means.
This is also a forum for personal investments, specifically your health and wellness. Thrift is more than a financial ethic, it is a lifestyle of prudence and intelligent choices. Thift could be opting for a salad instead of a steak, or switching to club soda after your third alcoholic beverage. Ultimately it is about taking a preventive course of action in all aspects of your life, to mitigate the risks before they become all-consuming problems.
If Thrifty actions lead to Wealthy outcomes, then by definition, the very act of Thrift is an line in the sand - casting the winds towards the changes from poverty to Wealth.
This blog is intended to attract like-minded individuals who seek an alternative to reckless schemes, and stagnant approached. Remember, net worth is not only about income, it also includes:
- Debt management (reducing or eliminating the cost of debt)
- Discounted acquisition of appreciating assets (investing wisely in things that will grow in value)
- Deferred or delayed purchases of depreciating assets (holding off on things that decline in value)
- Sharing, renting, or re-using where possible
- Considering alternatives to modify personal tastes to live within your means.
So what am I looking for? As I hit the big 4-0 (not immediately, but I can smell the rain), I believe that I am at a point in life where I can offer wisdom and seek beneficial advice in equal amounts. I am open to everything and anything that - if faithfully applied - will build my Net Worth.
The biggest point is that there are no limits to building wealth. What doesn't come from an income or inheritance, needs to be obtained from other means including investments, entrepreneurship, partnerships, bartering, or any other legal and ethical means.
This is also a forum for personal investments, specifically your health and wellness. Thrift is more than a financial ethic, it is a lifestyle of prudence and intelligent choices. Thift could be opting for a salad instead of a steak, or switching to club soda after your third alcoholic beverage. Ultimately it is about taking a preventive course of action in all aspects of your life, to mitigate the risks before they become all-consuming problems.
If Thrifty actions lead to Wealthy outcomes, then by definition, the very act of Thrift is an line in the sand - casting the winds towards the changes from poverty to Wealth.
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