Building Wealth

At Leading Edge, one of our primary goals is to help clients build and maintain wealth.  Today, we’re sharing an article filled with the “secrets” you need to know to achieve your financial goals.  

19 SECRETS YOUR MILLIONAIRE NEIGHBOR WON’T TELL YOU

A few years ago, Len Penzo wrote an article listing the 19 Secrets Your Millionaire Neighbor Won’t Tell You.  Don’t think you have a millionaire next door?  You might be surprised.  As of 2018, “More than 10.2 million households had a net worth of $1 million to $5 million, not including the value of their primary residence, according to a survey by the Spectrem Group.*

The secrets are actually a timeless and simple strategy of planning and discipline.  Here is a summary of the first few ‘secrets’ in Len’s article:

1. Always spends less than you earn.

2. Patience is a virtue. It takes time to build wealth.

3. Live modestly.  Giant homes, luxury cars, and fancy coffee will all significantly disrupt your wealth building potential.

4. Pay your credit cards in full every month.  Don’t buy what you can’t afford.

5. Money does not buy happiness. Managing your money well provides happiness and financial freedom.

6. Being debt free is the main source of financial freedom.

7. Work hard and stay busy.

8. Money does not manage itself; you must actively cultivate a money management system.

9. Pay yourself first.

10. …  Click here to read the full article.

 

*www.bloomberg.com, “The US Now Has More Millionaires Than Sweden Has People”, By Alexandre Tanzi, M

Should You Invest at Market Highs?

The lure of trying to time the market may tempt even long-term investors. But outguessing markets isn’t as straightforward as it sounds.

The 50 Countries [Worth] of America

It can sometimes be hard to understand just how large the U.S. economy is compared with the other countries of the world. You’ve probably read that California alone, if it were an independent country, would have the world’s fifth largest economy. But what about the rest of the states?

How to Avoid Losing Money When the Market Tanks

How to Avoid Losing Money When the Market Tanks. Even though the evidence overwhelmingly proves that time in the markets is more important than timing the markets, people still try at every market downturn.  

Join our mailing list to receive the latest news and updates from Leading Edge Financial Planning.

Thanks for subscribing. *** Your almost done *** There's one more step. We have sent you an email, please check your inbox or junk mail folder and confirm your subscription. We look forward to providing you with the latest news and financial information.