The third strategy is tax minimization. Jamie McIntyre recommends such strategies as becoming a consultant rather than an employee in a company that you own, or taking advantage of tax benefits from investment properties. By investing with pre tax money, you are leveraging your earning potential.
Step four is to increase your income. Write down all the achievements that you have done over the past year and go ask you boss for a pay rise. If that is not good enough, then develop a new marketable skill. The more useful you are in your job the more you will get paid. It is also a good idea to consider what other income streams you could add to increase how much you bring in.
Step five is a very important step for 7 ways to get access to money for investing. This is an unusual idea, but it is a good one. Jamie McIntyre calls it the strategy of OPM, this stands for other people’s money. The basic principal is to borrow say $20,000 to invest, and then use the returns from the investment to pay off the loan.
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