Sat May 18 2024, by Tyler Gardner
What Nobody Teaches You in School About Becoming Rich
Here’s what nobody will teach you in school about becoming rich:
1. It’s Not Sexy
It won't happen overnight, and anyone who tells you otherwise is trying to sell you a dream and take your money.
2. It Is Simple
Open a Roth IRA right now. Automate monthly contributions of $50 to $100 to that IRA, invest in low-cost index funds, and don’t look at it for 30 years. You’ll be all set.
3. It’s Not Easy
You can’t live the way you’re living right now if you want to accumulate wealth. Future consumption requires that you sacrifice current consumption. That’s the formula. That’s it. So if you want to spend it now, that’s great. Just don’t wake up in 10 years and wonder why it’s not there.
Understanding these principles can help you stay focused on your long-term financial goals. Remember, building wealth is a journey that requires patience and discipline.
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