Getting Started with Building Wealth is Simpler than You Think
In this interview, Aaron Sim, the CEO & Founder of Wealth Mentors, shares his first hand experience with building wealth in the US stock market, and shares his wealth philosophy that can be applied to a number of other wealth building avenues. While you won’t become an expert trader after reading this, you’ll finally get clarity on; where to start, and how to get started.
Having learnt from Mirriam McWilliams (self made millionaire, trader, and former Director of Education of the 14,000 members strong US Investors Club), Aaron realized how duplicable and simple it can be to earn money from the US stock market. Something that ordinary people just like us, and just like you can do too.
For example, Aaron says, “Most people are new to the stock market and when people want to train to the stock market-especially trading to foreign market like U.S. market, people have no clue how to go about that.”
Like most things, while lucrative opportunities might be all around us, the question remains …
“How do you get started?”
For example, some people have no clue how to open a brokerage account, and believe that only Americans can trade in the stock market. Though it was true many years ago, especially when Aaron started (more than 10 years + now), things have changed.
The other misconception that many have, is that they think you need a lot of money to get started, and that it involves a substantial outlay, or significant risk. However, with just small amounts of money, people can get started. And in fact, there are ways to do “paper trades” where you practice without having to put your own money. That way, you can build your confidence to trade before you use real money, RISK-FREE!
Think about it, it is like gymnasts who start in foam pits and doing somersaults using trampolines. It is low risk. And when they get confident with it, they can do it on the mat and eventually perform in front of judges.
Why is it important to know? Well, whether you trade or not–it gives you hope that there is a way. Sometimes, just understanding what is available, in a simplistic and clearer form, allows you to assess your options. More importantly, it lets you know that there are ways to build wealth regardless of how little money or time you think you have.
In Aaron’s words, “If people can just work 40 – 60 hours a week and they can see some hope in that, you know that they don’t know what to do … so we give people hope and as people go through this and they practice, they get the results.” What Aaron is referring to here, is that most people trade their time for money in hope for financial and time freedom. However, as we all the know, you have to leverage your time and find a way that your money can work for you.
But let’s get real here. Not everyone who tries to accumulate wealth in the US stock market succeeds. Not everyone will make the money they want. For a number of reasons of which there are too many to sensibly list here. But again, it comes down to the individual to learn, follow a system with discipline, and more importantly-whether trading is something appropriate for them (passion and natural skill).
“Some people after maybe they learn these things, they realize it is not for them so what they do, they can do other things… And that’s why we don’t only share with people about the stock market.” says Aaron Sim.
After replacing his 6-figure income in the Stock Market, Aaron explored and integrated his decades of experience in exploring other wealth building avenues. In doing so, he discovered that there are many ways to build wealth, and it all depends on what best suits the individual’s unique situation in life. This could be a function of; their existing career, family commitments, discretionary income, natural talents, professionals skills, and future aspirations.
Read more about how Aaron Sim, the Founder & CEO of Wealth Mentors shares his story of feeling trapped in life, and some words of wisdom about getting past your obstacles.
It all depends on where you are in life, and where you truly want to be.
The Wealth Mentors philosophy is about getting wealthy your way, and wealthy by choice. That means, understanding what your natural path to wealth accumulation is, and choosing to go for it. For that reason, the founder has always focused on sourcing international expertise (through first-hand trial and testing), to make a variety of avenues available to people in South-East Asia (e.g. Singapore, Malaysia, Indonesia, Brunei). Some include; internet marketing, personal branding, transformational coaching and property investing.
In regards to the trainers Aaron brings out, he makes clear that the focus is not whether they are famous. It is more about their capability to transfer expertise and knowledge, so students get results. “They are not sometimes very famous but then because they help so many people, We bring them over and we make them famous as well. Because they are very down to earth, they are real people who makes money helping ordinary people their way. And that’s why we make them famous because they really have a heart to support more people.”
Remember, credibility in trainers is important. However, it is just as important that trainers have the capacity to pass it on to their students. So assess the quality of the trainer based on the results their students get! 🙂
Go for it,