Building wealth the sound way is done by recognizing some of the factors that make the most impact on wealth building.
In my previous article on
my formula to wealth building, I highlighted 2 key factors that are
within a family or a person’s control and
make the most impact on wealth building:
- Putting money early to wealth building versus late allows you to build wealth with fewer funds
- Putting more of your take-home income to wealth building versus less allows you to hit your financial independence goals drastically faster, and possibly needing a lower rate of return
A third factor that makes a lot of impact on your wealth is whether putting more into
your wealth-building or chasing a higher rate of return.
If we break up a family or person’s wealth-building into 2 sections:
- Before a substantial amount of Wealth is built up
- After a substantial amount of Wealth is built up
...
