Begin to invest at least 10% of your household income.
I find that the 401(k) at your job, Individual Retirement Account
(IRA), Roth IRA or mutual funds are the best way to accomplish
this goal. If you are an investing novice, I recommend
consulting instructive materials about investing, such as the “Dictionary
of Finance and Investment Terms” by John Downes and
Jordan Elliot Goodman.
I remember opening a mutual fund years ago. I put $150 per
month into the account, and over an eight-year period it grew to
$40,000. I put in $14,400 over an 8-year period and made $25,600
from the investment. Educate yourself, and get expert help from
licensed certified investment individuals. Obviously, this changed
my life for the better. Of course, I also lost money at times as well,
because all investing has some risk. At the time of my initial investment,
I was making a lot of money and was very aggressive in
my investing. This principle will work for you just as it has worked
for me. Warren Buffet is one of the richest men in the world and he
made his fortune by investing.
Writer, Public Speaker and Philanthropist