5 Powerful Habits That Will Make You Very Wealthy Before You Retire

Invest!

Living frugally
and saving money is only one part of the equation. If you keep all your money
in savings accounts or certificates of deposits, which pay next to nothing in
interest, you are unlikely to build wealth, no matter how hard you work.

Remember, there are two ways to generate wealth: Own a successful business or invest in successful businesses. It is important to start investing as early as you possibly can and stay invested in the market for a reasonably long period of time, even if you manage to start a business, too.

Your primary focus should be on stocks and mutual funds. These investments will help you get tremendous returns in the long term. You can invest in domestic as well as international equities to increase your chances of getting higher returns on a consistent basis. Other investment choices include real estate, fixed income investments and commodities.

Depending on
your preference, you can choose to invest your money by yourself or hire an
investment professional to manage your portfolio.

Perhaps the most important thing you need to remember about investing is that you should stay invested irrespective of how the market performs in the short term. Never forget: The market will always crash at some point, but every time it crashes it has recovered spectacularly well. Do not panic at the first sign of a dip in the market and pull all your money out. The longer you stay invested, the better your returns are likely to be.

4 / 5
Next ❯

6 Exotic Vacation Spots Where a Dollar Goes Farthest

The average cost for an American to go on vacation is just about $1,200. Depending on where you go, that cost might barely cover the airfare. That’s the thing about

4 Safe Ways to Earn Steady Retirement Income

Retirement should be a time to relax and experience the good things of life that you probably missed when you were working full-time. However, to have a truly good time

Restless Leg Syndrome — Is It All in Your Head?

If you’ve ever felt tingling, crawling or tugging sensations in your legs, seemingly for no reason at all, you might have thought you were going crazy. These feelings may keep

11 Money-Burning Impulse Buys You Must Resist

The average American spends over $5,400 every year on unnecessary impulse buys. Think about what you could do with an extra $5,400. Setting aside that amount in a retirement plan

5 Questions to Ask Before You Take Money from a 401(k)

Sometimes even the most financially prudent individuals may go through an unforeseen emergency that forces them to consider making an early retirement withdrawal. However, while in your moment of difficulty

10 Ways to Spend and Live Well With No Cash

Living a healthy lifestyle isn’t always easy, and it can weigh heavily on the wallet. Organic food can cost a pretty penny and holistic healthcare models are often paid out

Save Hundreds by Being Your Own Pest Control Service

The average cost of a pest control visit can be anywhere between $150 to about $1,500, depending on the severity of the problem. Most new homeowners don’t appreciate that when

How to Protect Your 401(k) in the Event of a Market Crash

It's normal for investors, especially those close to retirement age, to worry about fluctuations in the market and how it will affect their 401(k) plans. And while there's no way

Would You Eat Ugly Carrots to Save Money?

“Ugly produce” a is term for aesthetically unpleasing food that usually goes unsold in lieu of more cosmetically appetizing fruits and vegetables. Bruised, blemished, or misshapen apples, double-headed carrots, or

credit score boost

Credit Score Boost: How Your Behavior Affects Your Credit

A credit score is a lot like your personal economic statement. Getting a credit score boost improves your money life immediately. Any time you apply for a loan, a mortgage,

Retiring? Here’s 4 Cities Where You Can Live on $1,500 Monthly

Retirement should technically be a wondrous time of life where you stop living to work and start working on living. However, retirement in real life is nothing like the pop-culture

8 Things to Do the Moment You Start Feeling Sick

Some days, you just know something’s got you. When you feel that heaviness in your head, an aching in your joints or scratching in the back of your throat, it’s