It’s almost impossible to make money if you have none.
If you have nothing to spare at all, you will have to invest time in order to get your seedcorn capital together. This is money for investing solely in your wealth projects. For many this money can be accumulated by working in a conventional job, cutting down on their outgoings and saving at the highest interest rate they can get.
How much seedcorn capital do you need?
A lot depends on how wealthy you want to be and how quickly. The faster you want it, the more seeds you are going to have to plant and the larger the amount of seedcorn capital you require.
The more money you need, the larger the initial amount of seedcorn capital required.
My own feeling is that you need £10,000 minimum to get started. £50,000 would be better.
This seedcorn capital is your ‘risk money’. Leveraging it up is one of the key ways of becoming financially free.
Here is a really important piece of information: This leveraging trick is one of the key secrets of the wealthy. It is also hugely misunderstood by the rest of the population, which is, I suppose, one of the reasons they remain poor!
To make big money (and one million pounds is still big money even these days) you are going to need to risk some seedcorn capital and some time and effort to multiply this many-fold.
Even with £50,000 you are going to have to multiply this by TWENTY to make a million, so don’t underestimate the task. Do not get despondent either!
Please understand that you do not have to take BIG risks or make wild gambles—that is not how the wealthy make their money! Any fool can get lucky on a wild throw of the dice, but this is not ‘a method’ for getting rich!
Most wealthy people got rich slowly and steadily. Emulate them – but start now.