3 answers
dbdn
Student
Houlton, Maine
2
Questions
3 answers
Paul Goetzinger MPA
Academic and Career Consultant and Freelance Writer
657
Answers
Seattle, Washington
Updated
Paul’s Answer
I think a.good savings and investing philosophy is a good place to start.
Rome was not built in one day, and neither is personal wealth.
Putting aside savings each paycheck (I usually suggest a 90/10 method, saving 10 dollars out of every hundred for investing purposes).
Invest in a diversity of things, company stocks, bonds, mutual funds, IRA's, etc.... and save for the long term.
Grow your wealth over the long term, and use all the deductions (like the IRA Deduction) to reduce tax liability, and increase your return on taxes.
These are a few suggestions that should help.
Rome was not built in one day, and neither is personal wealth.
Putting aside savings each paycheck (I usually suggest a 90/10 method, saving 10 dollars out of every hundred for investing purposes).
Invest in a diversity of things, company stocks, bonds, mutual funds, IRA's, etc.... and save for the long term.
Grow your wealth over the long term, and use all the deductions (like the IRA Deduction) to reduce tax liability, and increase your return on taxes.
These are a few suggestions that should help.
Vanesa Art
Couples counselor
4
Answers
Mesa, Arizona
Updated
Vanesa’s Answer
I am not rich by some people's standards but I would consider myself successful. I do have extra money to go on vacations regularly and even take my adult children and grand children. I have a wonderfully fulfilling life and I know that my opportunities will grow. I have some big goals that I want to reach in the near future.
I'll tell you what I did to get where I'm at.
I did a lot of soul searching. I really learned about myself. I learned about my values, my talents, my strengths and weaknesses. From that position, I had an idea of how someone like me could contribute to the world.
Then I started reading about and listening to people who I thought were successful. I stated doing what they were doing.
From there i started making goals for myself- some were small and some were big. Then little by little I set out to accomplish them. One step in front of the other- it's a lot of hard work, but it's all worth it because I'm working on what I love.
So my advice is do the work to find something you really love and pour your whole soul into it. Then set financial goals from that point, the point of knowing who you are and what you are made of.
I'll tell you what I did to get where I'm at.
I did a lot of soul searching. I really learned about myself. I learned about my values, my talents, my strengths and weaknesses. From that position, I had an idea of how someone like me could contribute to the world.
Then I started reading about and listening to people who I thought were successful. I stated doing what they were doing.
From there i started making goals for myself- some were small and some were big. Then little by little I set out to accomplish them. One step in front of the other- it's a lot of hard work, but it's all worth it because I'm working on what I love.
So my advice is do the work to find something you really love and pour your whole soul into it. Then set financial goals from that point, the point of knowing who you are and what you are made of.
Keyston Rice
Supervisor
180
Answers
Lawrence, IN
Updated
Keyston’s Answer
Look, success and wealth are not just about college degrees. Find something you're passionate about and work hard at it. I didn't go to college, but I found my way as a facility maintenance supervisor. Support your passions, learn from your experiences, and don't be afraid to take risks – that's how I've made my own path.