Your wealth provides an optimum lifestyle, as it can remove the stress out of expenses. It starts with balance, which starts with budget. Prioritize your spending and keep it under control to focus your money on things most important. Control your finances to invest your wealth. Start investing as early as possible. For example, Matt is 40 years old and invests $20,000 a year for retirement. Ruby is 21 years old and invests $5,000 a year for retirement. Matt would retire with half the money as Ruby despite investing twice as much! Tip: Stop robbing your future to pay for today. Invest Wealth to Retire.
Use Your Surplus Funds to Acquire Productive Assets and Avoid Liabilities
Ultimately, for most people, the best way to get rich by retirement is to get your hands on ownership of productive assets, particularly equity stakes in excellent businesses. A truly remarkable business, bought at an intelligent price, can work wonders in ways very few people seem to understand. The general public foolishly focuses on short-term market value—usually defined as anything less than five-years—and, in the process, misses the forest for the trees. There are often things right in front of you, things you know have a low chance of losing money over long periods of time and are no-brainers. Take advantage of your specialized knowledge. Make sure you have ample diversification to protect yourself if you’re wrong. Retire wealthy.