It’s actually not that difficult, but you will need to be able to raise bonds on property.

Let’s look at how not to build wealth first.

• Gambling. In my view Bitcoin and other currencies are gambles. They are all figments of collective imagination and rely on their “value” by peoples’ belief in their value.
• Listed shares. This is another form of gambling but can be a bit more scientific. However, in order to be able to retire on dividends from listed shares, you’ll need over R20m worth and to get there you have to have R20m or be one heck of a good gambler.

So, how does the average person get to be reasonably wealthy?

• Property for rental produces passive income and you need about R12m to be able to retire.
• You can bond property, but you can’t bond shares. So, it is much easier to get where you want to be this way.

If you get it right, you can do it. If you get it wrong, you won’t make it.

My book “16 Steps to Wealth” is a complete guide to building wealth and protecting it from the horrendous taxes on death.

You can read a free sample at www.16steps.co.za