Well, actually there is no secret. It’s actually pretty simple to build up a significant amount of wealth. You need to work on your discipline and patience above everything else. Once you have those in check, follow these three steps:
1-Spend less than you earn. Solution? Either start making more money or spend less with your current income.
2-Invest on a regular basis. Have a portion of your check automatically invested in tax-efficient vehicles such as 401k plans and ROTH-IRAs.
3-Start now and keep doing this until retirement.
Yes, it’s that easy. Don’t be fooled by CNBC and “market analysts.” Turn off the TV, stop reading the financial papers, and start saving. This is the key to not only retirement, but financial freedom.
-JE
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