As a money coach, I find that so much of the focus on growing money is about how to get an investment return when the investment account is just too small to earn a significant return. While ROI is important, getting strategies in place to increase income lay the foundation for wealth that can then be invested, whether that investment is into entrepreneurship, real estate or traditional investing.
Amy Renkert-Thomas’s maternal grandfather founded the Fisher-Price Toy company during the Great Depression and sold it in 1969 to Quaker Oats for more than $300 million in today’s dollars. Her father’s family, meanwhile, started a local brick-and-tile manufacturer in 1866, which the family still runs and which generates about $10 million to $20 million in annual sales. Read the article here.
Feeling a little perturbed by this post because you’re not remotely anywhere near being a millionaire? Think big. Read about the wealthy; get comfortable with wealth by reading about the wealthy. Ask yourself why and how they became wealthy.
How can you become wealthy if you’re completely uncomfortable even learning about how others became wealthy, and how they manage to grow that wealth even more through generations?
As the article states, the families only got rich after experiencing some struggle and failure. It wasn’t just there; wealth began with someone in the family taking a chance and deciding to become an entrepreneur at some point.
Then they invested smartly.