GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re free to read more about oureditorial guidelinesand our products and servicesreview methodology.
They understood the importance of living below their means, focusing onlong-term financial goalsover short-term pleasures.
He said these individuals invested wisely, diversifying their portfolios to minimize risk and maximize returns.
Your retirement savings account isnt your only consideration when mapping out your nest egg.
This can be extremely beneficial to your retirement income in the long run.
Remember that by the time you see your paycheck in your checking account, its been taxed.
They focused on building wealth rather than spending to keep up with the Joneses, she added.
Instead of lifestyle inflation as their income increased, they invested the difference.
Their wealth wasnt built overnight but over time by consistently investing more than they spent.
She said this forces them to invest their money before spending it and quickly builds wealth.
Cindy Lamothecontributed to the reporting for this article.
More From GOBankingRates
Share This Article:
