Have you been doing some research into investing and trading?
Thinking about joining an online trading course?
You have probably come across coaches and educators talking about “pillars of wealth.”
But what exactly do they mean by that?
What are these pillars?
The first thing that might come to mind is some sort of Greek or Roman temple with a stone roof.
Some columns (or pillars) hold it up.
The whole thing is built on a solid plinth or foundation stone.
Right?
Well, that is pretty much it, only this temple represents your wealth.
Imagine the word “Wealth” engraved on the front of the roof façade.
Now imagine there are five pillars holding the roof up.
What would these pillars represent?
That’s right, your possible income streams that build your wealth.
The Pillars Of Wealth
The most obvious income stream is your job or career.
We’ll call that Pillar 1.
Now maybe you are actually the boss of your own business.
A business then is Pillar 2.
If you have been successful in your job/career or running a business, then you may have started investing in properties.
Your own home.
Buy-to-let, rentals abroad.
Commercial property, perhaps.
Property, then, is Pillar 3.
They are pretty standard sources of income that could help grow your wealth.
But what else is there?
With the birth of the internet, came something called the “dot.com bubble.”
That was when people started using the internet to run online businesses selling goods and services.
eBay, for instance, was one of the early pioneers.
And it is still going strong, as are many others.
People have been doing very well from this kind of income source.
Online marketing is therefore Pillar 4.
Last, but not least, there’s Pillar 5. Investing and trading.
We’ll cover these five pillars in more depth later.
First, we need to mention the Foundation.
It is very important, right?
EVERY building or construction needs a solid base upon which to be built.
Otherwise, it would collapse.
That is common sense.
But what is this foundation made of?
The answer might surprise you.
Mindset.
Psychology.
They are essential for all five pillars.
Because people who succeed in their careers, jobs, and businesses, as property owners, online marketers, traders and investors, do so thanks to having the right approach and being in control of their emotions.
We’ll cover this a little later too.
So why do I need pillars of wealth?
The reality is, relying on just ONE source of income is not enough in these tough economic times.
It is unrealistic.
Let’s examine those pillars of wealth in greater detail.
Pillar 1 – Career/Job
Once upon a time, your job or career would be plenty to live on and save for retirement.
Those days are long gone.
Think of those who have to hold down one, two, or three jobs just to put food on the table for their kids and pay the rent.
The middle classes are not faring much better.
Even as you read this, people are having to dip into their savings just to survive.
Worse still, people are taking out loans. Going into debt.
Probably even greater debt.
So the logical thing to do finds another source of income.
That way you can start growing your wealth.
Then you can start to live more easily, and thrive too.
Pillar 2 – Business
Being your own boss is something many aspire to.
It is understandable. Why slave away working for someone else if you can be your own master?
The number of people doing exactly this is quite eye-opening.
According to the UK’s Federation of Small Business, as of 2021, there are 5.5 million small to medium enterprises (SMEs).
SMEs account for three-fifths of employment. That’s around half of the turnover in the UK private sector.
Total employment 16.3 million (61% of the total).
Turnover is estimated at £2.3 trillion (52%).
Employment in small businesses (with 0 to 49 employees) was 12.9 million (48% of the total).
Turnover £1.6 trillion (36%).
So one could say with confidence, there is money in SMEs!
Pillar 3 – Property
As we mentioned earlier, if you have managed to get on the property ladder, you have done well.
Property has always been a pretty safe asset and a great source of income, especially in the buy-to-let and rentals market.
If you own your home outright without a mortgage, that is a great asset.
You can sell. Downsize. Pocket the profit.
The only thing with property is it is a slow burner as an asset when it comes to selling and buying.
Property is usually for the long term.
Pillar 4 – Online Marketing
The great thing about online marketing and online businesses is you can do this from the comfort of your home.
Any time of day or night.
It is an ideal second income stream.
It can even work for you while you sleep!
You can:
Sell products on Facebook or Amazon
Set up an eCommerce business
Create an online course
Provide consulting services
Make money as a blogger or “influencer”
Social media manager
Sell freelance services
There is no limit to the things you can do.
Pillar 5 – Investing & Trading
Investing and trading has made a few very rich and wealthy.
They are called the 1%.
You may have heard of them.
The extent of their wealth is beyond imagination.
But we’re not interested in them.
We are more interested in the many thousands of “ordinary” folk who have used investing and trading as a reliable vehicle to grow their wealth.
It is true. They are doing it all over the world.
They are from all walks of life.
They have seen others doing it and realised that investing and trading can provide the security they need.
They go on a learn crypto trading course or stock trading for beginners course.
For some, they invest and trade and achieve actual financial freedom.
They have even given up their jobs and stopped slaving away for a living.
Instead, they have started to really LIVE.
It all starts with accepting that risk is a factor.
But then, there are many other things people already do that are risky.
Leaving your present job for a new job in the hope of making more money.
Starting a business, whether physical or online.
Owning property.
Risk is everywhere!
The beauty of investing and trading is that you can use it to make a regular and decent return.
Or you can be bold and ride the volatility.
And that leads us to…
The Foundations Of Wealth
This is where mindset and psychology come in.
Especially with investing and trading.
In general, whatever you do to grow your wealth, requires a good, solid plan.
Confidence.
Strategies.
Discipline.
Fearlessness.
Resilience.
Determination.
Desire.
If you have passion, that helps a lot.
But mostly, you can learn how to be all of those.
They all feed into each other.
They breed success.
At whatever you do.
Here at Investment Mastery, we focus on Pillar 5 – Investing and Trading as a vehicle for growing wealth.
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