It is often said, “Knowledge is power.” Although I think knowledge without action is just knowledge, I like the phrase “Applied Knowledge is power.” I heard this initially first from Dolf de Roos (Real Estate investor and educator) in his Property Investors School. (Remind me to tell you about his REAP investment analysis software.)
The concepts of these posts are not intended to short-cut the process of building wealth, but to accelerate it. I personally believe that It’s OK to get rich quick! Although you must beware of the short comings of most of the get rich quick opportunities, as many seem to be for the benefit of the originator and not so much for those who come later. Perform the necessary due diligence and understand the business or opportunity before investing your funds.
I mention accelerate the process of wealth building verses short-cutting it, because a short cut implies skipping or leaving out some of the steps in the process. Whereas accelerating the process means you gain the required knowledge and experience by being involved in the process, but in a much shorter period of time. (Concept from 20/20, John Wingert)
Knowledge and experience are essential components to grow and maintain your assets, especially as your asset base becomes larger and larger.
