7 Characteristics of a person accumulating wealth (Part 1 of 4)
August 06, 07 by Stealthy
The first chracteristic of a person accumulating wealth is…
“Be a Consistent Saver”
One of the easiest ways seems like a no brainer, but I need to state it just to remind people. Save your loose change. At the end of the day when you empty out your pockets put your change into container. Take the container to the bank on a quarterly or yearly basis and deposit it into a savings account or into a type of investment account. Another way to be a consistent saver is to make the maximum contributions you can to your retirement funds such as your 401k and IRA or Roth IRA accounts. You will be astonished by the amount of compound growth that occurs from now until you retire and start withdrawing. Also another great idea is to set up an investment account that will withdraw “X” amount of dollars from your checking account each month to invest in stocks or mutual funds. Instead of increasing your standard of living each time you receive a raise or bonus try saving the extra money you make.
