We noticed that young people from all over the world come to Thailand to grow professionally and build wealth. We always tell young people they need to understand wealth building as a table:
Leg 1: Income from Job and business, combined with building proper lines of credit and tax optimization strategies. Obviously, this information is different in each country but understanding lending policies and taxes can give you a super edge for building wealth.
Leg 2: Real Estate Management: Understand how to rent, acquire, buy and sale real estate. This is fundamental in your wealth building process. Remember, this area is very creative and capable of creating deals that can be easy to access with low capital, but there is risk!
Leg 3: Paper Assets Management: Saving $5 per day for 40 years in financial products. This is a world in itself! But you must take your time to select a savings and investing strategy with a purpose. Include proper Life Insurance and Health Insurance.
Leg 4: Budgeting and Life style. Health and virtues; Traveling also is a form of wealth building. Invest in traveling and enrich yourself. Learn the art of budgeting and its proportions and practice it, every day. There is not perfection, just intention. Aim for action not for perfection.