What are some ways I can produce more wealth?

Question

Keeping in mind that the American dollar is only getting weaker (which will only serve to drive up the price of gasoline and in return everything else I purchase), what are some tips I can do to save guard what little wealth I currently have and perhaps produce more?

Thanks!

Answer 1

"Work harder" is the wrong answer.  You need to work better / smarter.  The standard way of doing this is to get educated in a different job area.  Find  something that (1) you will enjoy, and (2) pays better than what you are doing now.

As to safeguarding your wealth -- that's a whole book -- or a whole shelf of books.

Answer 2

Be a mystery shopper, take some on-line surveys.

NFO is a legitimate company.

Answer 3

Take a look around you my.  Banks are failing, stocks are plumiting and everything you buy is costing more.

Keep cash on hand for emergencys and food.

As far as wealth if you have a 401k make sure plenty of it is in gold, oil and food stuffs.Or at least inflation protection stocks. Make sure your car is gas economical, try to work close to home if possible. If not do your shopping on the way home from work.

For wealth as the dollar plummets you can buy gold platium silver and pallidium when ever you have extra cash on any correction in it, or as they say, just buy it, don't look for short term gains. You dont have to buy a full oz except silver running about 20oz at present time. silver may see 40 oz next and if things get worse with inflation 100-150 oa gold expected to go to 1600-2000 and through the yrs. who know how high. A day may come when you won't be able to buy it at any price.Don't bother looking to how much it is worth, day by day. As oil continues to rise through the yrs it will show itself and maybe your savior in the clamity that comes. You can google any reputable gold sales on line shop around for prices or visit your local gold silver dealer. Can check the spot price at Kitco or stockcharts.com key in $ gold or $silver.Good luck to you, and don't listen to the spoiled brats on here, pretty soon they could be standing in the food line and probably thans to some it won't be orderly.God help them, God help us all. No dooms day preacher, just look around. And as you can see here the morality, self respect, common sence, dignity, and truth is leaving America, for what a bunch of loosers the big guys will say, who cares what happens to them anyways, theyre a bunch of loosers. Can't edit in a hurry. Good luck Enjoy life, but build a saftey net while your at it. PS if you do don't tell anyone or these same characters who live in Im all that la la land will be knocking at your door.

Answer 4

Producing wealth requires work and innovation. However you can gain personal wealth by saving and investing wisely which allows you to share in the wealth produced by other people. To hedge against the weakness of the dollar  shares in multinational companies  or foreign bonds and stocks  are a good bet. You can buy ETF's that allows you to  diversify  into many countries with only a small amount of money. Putting part of your money in oil companies will balance the changes in gas prices.

Answer 5

Quit eating out! Drive less and quit drinking so much you lush.........Ooops sorry that last part is me not you!

Answer 6

If someone really knew the answer to this, do you really think they'd tell you so you could muscle in on their wealth?

Answer 7

Earnest question. Put simply, producing more wealth in a down economy is difficult outside of simply earning more. Passive sources like the stock market and real estate need some more time to recover. That said, there are some tips in a down economy:

1. park your savings in a decent yield money market fund or savings account.

2. continue to invest in your 401k or retirement fund. i would highly recommend getting a retainered (ie % of assets managed) financial planner that can help you beat index returns on your retirement portfolio. Regardless of short term blips, the stock market WILL return positively over inflation in the long run.

3. free up disposable income by eliminating unused recurring bills (cell phone, home phone, cable, gym fees, etc). Everybody has one or more things they could do without in the short run

3. prioritize spending for the most important things to you. Dont worry so much about your Starbucks or small gratification items. Think big, like vacations or cars, etc

Answer 8

work harder

Answer 9

gamble!!