The concept of wealth is often misunderstood. Many people view wealthy people as those who live in big homes and drive expensive cars. They think wealthy people are those who flash credit cards in high class restaurants or fancy stores and shops. This attitude reveals a basic misunderstanding of the concept of wealth. Wealth is actually another way of saying net worth. Net worth is not just the total amount of assets that you have, but actually the amount of your assets less the amount of your liabilities. If those wealthy suspects have high mortgage rates, and immense car payments, and maxed out credit cards, they are not truly wealthy at all.

The notion of wealth building is really the art of increasing your assets while at the same time reducing your liabilities. It is the increase in your net worth that constitutes true wealth building. The internet has provided some new and interesting strategies for doing just that. Wealth building seminars have existed for a long time. They are often sold on late night television. It is almost as if they are being targeted for people who are staying up late because they have no jobs to go to in the morning. Online wealth building seminars have a little different tone. They take advantage of the vast amount of knowledge and data available on the World Wide Web to give training and guidance on various means to reduce debt and increase wealth.

One such online method of wealth building that offers a new and unique strategy is the idea of the online financial advisors. They operate by not only offering advice and sharing investment ideas, but also by providing software for managing your personal finance. The software allows cash flow tracking and budget formation. Some of these financial advisors can be simply software programs that can be downloaded to your personal computer. Microsoft Money is one such program. It does more than monitor and track your cash flow. It can also give advice as well. This is the value of the wealth building seminar. The ultimate decisions that will determine your own wealth building will always remain yours, but sound financial advice is sometimes worth as much as money in the bank. There are important issues involved here that go beyond just the enjoyment of the material things that wealth can purchase. Your retirement, college educations for your children, and providing a nest egg against unforeseen circumstances are important matters and it is a wise man that prepares for them armed with as much knowledge as he can muster.