5 Easy Steps to Building Wealth

by Marc Austin Highfill 19. November 2009 07:44

Would you like the keys to financial freedom? Mary Farrell’s Beyond the Basics, outlines the characteristics of people who have achieved their financial goals. It’s no secret that people who achieve their goals have a plan – they set financial goals, save and invest their money, and they keep an eye on their investments. Here are five strategies from Fortune magazine for building wealth:

 

  • Start early and save. If you save $1K a year at 25, you’ll have about five times what you would have than starting at age 45.
  • Invest in index funds rather than individual stocks. They’re easier and safer for the average investor with little time for research.
  • If your employer has a 401(k) plan, use it. Your employer’s contribution is like free money.
  • Avoid mutual funds with a management fee higher than 1 percent.
  • Get rid of your credit card and consumer debt. Pay off the highest rate card first, then work through your lower rate cards.

Learn How To Maximize The Value Of Your Home! 

Did you know there’s a free consumer report showing which repairs and fix-ups will net you the most value for your home?  It’s call the “Homeseller’s Guide To Money-Making Fix-Ups,” and it’s great even if you’re not planning on selling soon.  You can get a free copy by visiting our website at…

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Permalink | Comments (6)

Comments (6) -

Theresia Woodbridge
Theresia Woodbridge United States
1/9/2011 10:58:14 AM #

Thanks for taking the time to share this, I feel strongly about it and love reading more on this topic. If possible, as you gain knowledge, would you mind updating your blog with more information? It is extremely helpful for me.

Ada Stephans
Ada Stephans United States
1/10/2011 12:28:29 AM #

This is really interesting. Thanks for posting it. By the looks of the comments, many others think so too.

Stacia Stickrod
Stacia Stickrod United States
1/11/2011 12:27:42 PM #

Hey how are you doing? I just wanted to stop by and say that it's been a pleasure reading your blog. I have bookmarked your website so that I can come back & read more in the future as well. plz do keep up the quality writing

Francene Rhoda
Francene Rhoda United States
2/5/2011 6:25:19 AM #

I'm having a hard time viewing this information from my iPhone. Maybe you could upgrade the site and make it more accessible from my phone. Thatd be real cool!

penny auction strategy
penny auction strategy United States
2/19/2011 6:39:47 AM #

An impressive share, I just given this onto a colleague who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If possible, as you become expertise, would you mind updating your blog with more details? It is highly helpful for me. Big thumb up for this blog post!

Mac
Mac United States
4/10/2011 10:50:06 AM #

Definitely agree about starting early - makes an enormous difference.

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