The book series on Millionaire Maker by Loral Langemeier lays a very good foundation for an answer to the question - How to Build Wealth? The fundamental premise of the book is that you can build wealth the slow, old-fashioned way through 401(k), Roth IRA and other retirement vehicles, banking on a stock market that grows 8-11% per year or much faster through focus on more advanced techniques.

The old fashioned way is actually a good technique for many, especially those who do not have the time to devote to building financial skills or for developing a business. However, for those interested in rapidly building wealth, the need to step out of your immediate comfort zone cannot be emphasized enough. This would require:

1. Use of leverage
2. Learning to use other people's money for your endeavors (private equity, loans)
3. Expanding knowledge / skills into new, financially valuable areas such as real estate, private business ventures and so forth.
4. Learning to manage the cash flow, and parlay into new assets
5. And repeat.

Loral talks about these and other techniques, presenting carefully selected case studies to illustrate individuals in different starting situations who have succeeded through her millionaire maker wealth building system.

Her ideas are not entirely new of course, but the book is definitely worth a read for those who feel stuck in their current pathway to prosperity, and would want to jump-start their wealth building years. This is however, just the beginning of the process. You would have to spend considerable amount of time in mastering any new area, and not expect overnight results. In about three to four years from the time that you commit yourself toward serious wealth building, you will begin noticing favorable results, building on which, you will see an exponential growth in your net-worth.

How many years to a million then? A target of seven years is very achievable if you commit yourself to it - commitment sets a series of events in motion that will bring opportunities in front of you that you will now capitalize on and begin paving your way to good fortune.

A good way to begin seeking financially valuable areas to master is to first begin seeing what opportunities are advertised in the local newspaper, or on the Internet (on sites such as bmyers.com there are listed several product ideas that you can build upon). Then begin narrowing your list to legitimate opportunities - these should be viable businesses with known market demand. Further prune this list to opportunities with underserved markets. This is the hardest part of the search, and the one step that will point you to hidden nuggets of opportunities. From the remaining members of the list, identify which ones interest you and that you would love to master. Pick any one of these and start your business building experience from here.

Bon voyage! !-- google_ad_section_end -->