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October 30th, 2009 admin Posted in finance |

By Jaanu

According to the Spectrum Group, in 2005 there were 7.5 million millionaires in America. One way to leverage credit to generate wealth is by having a good credit score. Having good credit can save you thousands of dollars over the life of a loan. Even just 1 percentage point can save you $20 to $300 dollars a month. The money saved can be used to invest, or borrow money to purchase assets to generate wealth. A good credit score usually 700 or above can help you in a number of ways, including the following:

Allow you to pay less for purchases Spur competition between companies for your business Invest in profitable opportunities Establish a solid credit rating Get approval for larger loans and higher credit limits Provide quicker approval times Look favorable when applying for a job Here are 5 ways that you can leverage your credit to generate wealth:

1. You Should Become a Homeowner. Becoming a homeowner increases your credit score, proves that you are a responsible spender, provides a tax write-off, and provides you with an asset that will appreciate over time, which increases your net worth.

2. You Should Purchase Investment Property. Investment property provides cash flow that can be used to generate wealth and allows more opportunities to become available to you. Do research and buy books on buying investment property, join a real estate group, and listen to financial investment shows to find out the best way to get started.

3. You Should Start a Business. Discover what you love to do more than anything else. Do your research before starting your business and take small steps. Start your business in your home to get the feel of running a business. There are also many tax write-offs for home-based businesses.

4. You Should Use Venture Capital. Use venture capitalists to invest in your business. Venture capital is a fund raising technique for companies who are willing to exchange equity in the company in return for money to grow or expand the business. Venture capital firms often want a high rate of return 20% or more and will finance the business with $500,000 to millions of dollars. A venture capitalist also wants greater control of a company and a quicker return on their investment.

5. You Should Use An Angel Investor. Use angel investors to invest in your business. An angel investor is an affluent person who provides capital for a business start-up, usually in exchange for convertible debt (a bond that can be converted into shares of stock in your company) or ownership equity (remaining interest in all assets after all liabilities have been paid). If assessments of assets do not exceed liabilities this will result in negative equity and cannot provide ownership equity.

The key to leveraging credit to generate wealth is to develop good spending habits, live within your means and maintain a good credit score. The higher your credit score the less you pay for a loan and the easier it will be to establish business relationships, gain new clients, and generate wealth.

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This creates a huge market of opportunity for the trader. Like in any moderately sophisticated trading floor, the objective remains the same: find deals that can rapidly be converted into winning positions, usually within the day. This need to square off within one day is especially felt as there is a serious cost of carry and that margins need to be marked to the market at the end of each trading day.

At this point of time, I must mention that in foreign currency markets, there is really no “end of a trading day.” As the earth rotates, there is someplace somewhere on the globe that is just encountering sunrise at any given point of time. All the same, there are a few major markets, London being at their center, where currency deals take place in the largest numbers. Back to trading related discussion: foreign currency dealers are constantly on the lookout for situations where the pigs, i.e., people who must trade, will somehow subsidize their trade and help them turn a neat little profit. This piece of wishful thinking has made many a trader’s life unhappy, but at the same time, I know of dozens of rather disciplined trade-professionals who have built themselves a neat little fortune trading in these Dollars, and Pounds, and Yens, and Euros, and Rupees, and Cruzeros, and god alone knows what other currency. And if the word dollar is very familiar, remember there are many dollars to contend with. Are we talking about the dollar from the United States of America? Or is it from the down under Australia?

Or is it emblazoned with the roaring lion from Singapore? As you can see figuring out the direction that a currency will take is not easy, primarily as it eludes the pedestrian logic that people will tend to use when stick picking. This does not mean that exchange rates cannot be forecasted. For instance, I am writing this article at the very end of 2007. I can bet that the Indian Rupee will continue to secularly rise against the US Dollar for the next few years, say at least for the next three years. So, am I going to be rich? Well, the rise is going to be so little and over such a long period of time, that I will not be able to make any real trading opportunity based on my forecast. And if you are reading this, please note that I am not giving you professional advice, but rather, thinking aloud. I hope that this article has given you some food for thought on forex trading.

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