There are four steps you should take if you want to achieve wealth. These steps revolve around debt, investing and residual income. Residual income is probably the most overlooked.

Step #1
Get out of Debt is the first step. Trying to become wealthy while sinking in debt is like trying to run a race with concrete blocks around your ankles. Get rid of the credit cards and use a debit card for your transactions. Get rid of the car payment. Only drive a car for which you can pay cash. Upgrade in car as you accumulate wealth. Rent until you can pay down 20 percent down payment on a house. This large down payment will get rid of the private mortgage insurance (PMI). Save and pay cash for wants and needs.

Step #2
Start Investing Today is number 2. Get an astute and open-minded financial advisor and start investing today. Never invest in anything you don't understand or can't explain. A quality financial advisor should help to invest in a diversified manner but in keeping with your tolerance for risk. Remember you are in charge, not the financial planner. That person is there in an advisory role. A good investment port folio should include mutual funds and real estate. Never use a money market account for investment purposes. Use it to park cash that you will need immediately or in a few months. An emergency fund of 3 to 6 months of your living expenses can be parked in such an account.

Step#3
Get out of the employee mentality is step 3. If you want to become wealthy, stop trying to land the perfect job. Most people who are very wealthy started their own business. Employees have to work more and more hours to make more money. However, the more they work the more they have to pay in taxes. The tax man stands at door to collect more and more taxes before that money can come home with you. You need to create a business. That business you create should be in an area for which you have an aptitude and passion. Pick an area of business for which there is a need and again for which you have an aptitude and passion. You must then prepare by reading and taking courses to prepare you for the rigors that lie ahead in owning your own business. Employee mentality causes people to wait for others and government to do for them instead of making things happens for themselves.

Step #4
Create Residual (Passive) income is step number 4. Think of residual income as money coming in to you whether you are working, sleeping or on vacation. In other words, rather than trading time for income continually, you expend effort, quit and the income continues to come. This type of income is also called passive income. One vehicle or opportunity that offers such a possibility is network marketing or multi-level marketing. Build your network and leverage the efforts of others. Then, reap the benefits after you expend the initial energy to build your network. Think of it in another way. Suppose you need 300 hours of work to be done. You can either work all 300 hours to get the work done or you can build a network of 300 persons. Each person can then work one hour and you zero hours to accomplish the 300 hours of work. This is what network marketing offers. Network marketing companies provide a low cost and easy access means of getting a legitimate home based business started. A marketing system, software, website, and quality products or services are at your immediate disposal (That is assuming you choose a reputable company with a good track record with a quality and diverse product line). There are multiple quality mlm companies with quality and diverse health and wellness products.

Orville Campbell, MD