Wealth building consists of four parts. One of these steps is growing a cash machine, the next is allocating assets, then spending planning and the fourth is managing and elimination debt.
Growing a cash machine is the foundation and the more important part. Your incorporated business is your cash machine and entrepreneurs are typically wealth builders. Allocating assets is when you take all your assets and find a way to make them work for you which is where the term, stop working for money and get money to work for you, came from. This allocating will require other to help you like advisers for example.
Spending planning keeps control of that typical way many spending where many use extra income to increase their spending. This sounds fun, buying whatever you want, but that is not how wealth building works. Managing and eliminating debt is to have zero debt meaning no credit cards or mortgages. Financial freedom if the goal of wealth building and having a passive income support your lifestyle if the best way to live.