Wealth Building Strategies for 2010

by James on July 20, 2010 · 2 comments

Hello All,

There is ton of information out there on wealth building on the web.  Unfortunately most of it isn’t that good.

That said, I came across this video while searching the web for tips on building wealth.   Its a half hour show from The Urban Wall Street Project – a program focused on wealth building for African Americans.  The great thing about this show is that it covers a lot of the basics of  building wealth, but also goes into some of the more advanced strategies people can utilize to build wealth.

Enjoy!

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{ 2 comments… read them below or add one }

1 Jason July 20, 2010 at 3:27 pm

Interesting video, never heard of him before.

Sounds like he is basically pitching the same ideas as “Rich Dad, Poor Dad” buy true assets which return passive income and increase your cash flow. I agree in theory at least with pretty much everything except seeking debt management / consolidation firms help. Most of those are scams the rest do little more than you could do on your own to reduce interest / principal.

It’s all about breaking the mindset of not being able to do it because of your situation. Learning basics of Assets vs. Liabilities and how to manage cash flow and anyone can change their stars.

2 James July 20, 2010 at 10:18 pm

Hey Jason,

Actually, William Patterson doesn’t preach the same message as Kiyosaki. For example, Patterson is big on home ownership and carrying a mortgage. In contrast, Kiyosaki basically says that houses are liabilities because they they represent a net draw down on your social capital.

Best,

James

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