With one month down in 2014, how are you doing with achieving your wealth goals for the year? If you aren't where you wish to be, keep these tips under consideration.

TIP 1: Equitable Investments Are not Adequate

Are you winging it in your wealth strategy? To paraphrase, are you taking positive steps without a tactic to support the action?

For instance, buying gold because it feels like a good investment, or purchasing a rental property because it seems like a sound investment.

What makes an investment a good investment is how it operates toward the goals in your wealth plan. Simply making an investment because it seems like an equitable investment is not enough — what will it do in your wealth strategy to attain your wealth goals?

Even though it is great to take action, there needs to be a tactic behind the action so the actions lead straight to the results which you desire.

Winging it in a wealth methodology can set the wealth methodology behind by years — even decades.

TIP 2: Move Your Wealth to the Top

Letting your wealth methodology slip as a priority is something that may regularly sneak up on us.

For instance, let’s say you have a goal to speculate in a rental property and have a plan to look at potential properties this month.

Nevertheless when you get the call to go look at the properties, you are in the middle of running errands, or too occupied with work, or need to finish a project. The list goes on. Taking a look at properties gets put on hold and your wealth methodology swiftly falls off track.

There is always something else to do if your wealth strategy is not a real priority.

TIP 3: Avoid the Extremes

Taking it to the maximum means you have got no balance in your wealth goals. You are attempting to go at a speed that no one can most likely sustain — and that implies a lot coming from me because I like things to move fast.

The challenge with going at an unsustainable speed is it all too commonly leads to crashing and burning, and that can be devastating in a wealth plan.

Set reasonable goals and make your wealth building part of your day to day life.

TIP 4: Your Friend?s Wealth Methodology is Not Your Wealth Strategy

I've had folks share with me many times that they made an investment because their friend (neighbour, co-worker, colleague, and so on.) made the same investment.

What does it for some other person will not necessarily work for you.

Your wealth strategy must be particular to you based primarily on your likes, your dislikes, your family, your goals, your dreams, and your financial standpoint. To maximize the result of your wealth strategy, it has to be customized to you.

TIP 5: Get Your Team in Place as Fast as Possible

I always share the 3 most expensive words in English are „Do it yourself. “

The way to achieve your wealth goals is not necessarily a smooth one. In fact , it isn't unusual to hit several bumps along the way.

Those who have a team are less certain to get off the track when they hit that first bump, or perhaps they make it to the second or 3rd bump before turning around. Navigating with a complete team supporting you makes the method much smoother. [For example, working with a full service investment property provider can offer you an entire team of people.]

Build a team around you to support you and help you achieve your wealth goals.

[Editor’s Note: Be certain to see our new Better Business Bureau Review.]

Marco Santarelli is an investor, author and founder of Norada Real Estate Investments — a national real-estate investment firm providing hassle-free investment property in growth markets around the U. S.. „5 Wealth Building Tips„was originally printed on the Estate Investing Blog.