As a financial educator and strategist, I’ve had the privilege of working one-on-one with hundreds of multi-millionaire clients. After listening to countless stories and guiding them on their path to building wealth, I’ve discovered the secret to their financial success — ownership.
At the heart of every significant financial life story is this simple yet profound truth about wealth — ownership is key.
It’s the backbone of building wealth in a meaningful way and can manifest in a variety of different forms, from stocks and bonds to real estate to business ownership. The biggest takeaway? It doesn’t happen overnight.
Wealth creation through ownership typically hinges on how strategically you’re able to allocate three of your most valuable resources — your time, your mental focus and intellect, and your current financial reserves. This marks a different kind of investment — consistent, thoughtful, and patient effort now in anticipation of a greater payoff down the road.
Ultimately, ownership leads to wealth…and time freedom.
You’ll carve out more space to breathe deep, dream big, and live fully in the present moment. That’s the true benefit of building wealth and ownership — amassing the financial means to support your desired lifestyle without trading your time for money.
And I’m here to let you in on another secret. This wealth creation strategy isn’t just for the rich and famous. With a little knowhow — and a lot of financial elbow grease — you too can begin taking steps to leverage ownership to your benefit.
Most millionaires begin building wealth with a single source of income — be it employment, business ownership, real estate holding, or the stock market. Over time, as you build meaningful wealth, you start to recognize the importance of diversifying your assets to balance the need for both growth and security.
Here are five ways that the wealthy continue to diversify their assets over time, prioritize ownership, and make their money work smarter, not harder. And now, you can do the same.
5 Ways to Prioritize Ownership and Building Wealth
1. The Stock Market
Stocks are the foundation of wealth building. They offer the potential for passive income, passive compounding, growth, and protection against inflation. Bonds provide a more secure, stable, low-risk income. This is hands down the simplest and least time-consuming way to build wealth. Consider passive, inexpensive Index Funds for stocks and Treasury Bills (short-term needs), Bond Funds or ETFS (longer-term needs) for bonds. Keep in mind that stocks drive most of the growth, while bonds provide stability and security.
2. Real Estate
Outside of your primary residence, there lies a ton of power in real estate as an investment. It offers tax benefits, rental income, and/or appreciation over time. If direct ownership isn’t your cup of tea, but you are interested in real estate exposure within your portfolio, REITs offer a great alternative.
3. Small Business Ownership
Whether going the entrepreneurship route or buying an existing business, both avenues offer significant potential for wealth creation. The Small Business Administration estimates that around 10 million baby boomer-owned businesses will have changed hands between 2019 and 2029. Buying an existing business could be your fast track to becoming an entrepreneur with a ready-made customer base and consistent revenue stream. Check out the book Main Street Millionaire by bestselling author Codie Sanchez for more on wealth building through business ownership.
4. Private Equity
For those folks looking to “beat the market,” private equity is one way to potentially do it. Here’s how it works in a nutshell. A team of investors pools their money to buy, fix, scale, and eventually sell a business they have identified as having a unique potential to be profitable. The potential risks and fees are much higher, but so are the potential rewards.
5. Invest in Alternatives You’re Passionate About (with Strong Potential)
It’s always so fascinating to see how and where people choose to invest their money directly aligned with a hobby or passion, but with their eye on the bottom line. From art to vintage cars to stamp collections, the wealthy invest in what they love to enrich their life AND their net worth.
The Path to Wealth Starts with Ownership
Repeat after me: “Ownership wins!”
Dive in and network with people who are investing in things you want to learn more about. Educate yourself, explore your options, and start building wealth in a way that provides you with more freedom and time by way of ownership.
It’s time to stop playing small and step into the financial future you’re meant for. By taking action on smart wealth-building strategies, you can create more freedom, security, and opportunities for yourself—start now and apply to work with me so I can help guide you every step of the way!
Resources for the Ambitious Wealth Builder:
If you’re ready to take action and dive deeper into wealth-building through ownership, here are some game-changing resources to help you get started:
Download the Free Million Dollar Guide packed with strategies and steps to show you exactly how to start building wealth and set yourself up for success.
For a fresh perspective on small business ownership, explore Contrarian Thinking.
If real estate is part of your plan or of interest to you, check out BiggerPockets for expert advice and community support to get you started.
If you already own a business and are looking for guidance on how to track expenses and navigate the accounting side of things – check out the Profit Playbook.
