How to Build Wealth

10-Step Formula to Riches

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1. Live like an Undercover Millionaire

Income ≠ Wealth

How to live like an undercover millionaire:

- Spend less than you earn
- Avoid buying fancy clothes
- Avoid buying new & fancy cars

To feel rich, count the things in your life that money can't buy.

2. Always Look Ahead

To build a strong financial future, break down your goals into 3 categories:

- Short term goals (1 to 5 years)
- Mid term goals (5 to 10 years)
- Long term goals (10+ years)

Understand your goals and build a plan of action.

Make your goals a reality.

3. Become the Household CFO

Assign a purpose to every dollar.

How the wealthy budget:

- 529 plans
- Business accounts
- Retirement accounts
- Emergency savings fund
- Joint / Individual accounts

Want to budget stress free?

Automate the process.

4. Pay Yourself First

You might catch the famous Warren Buffet mentioning this phrase during his investment talks.

This means:

- You save/invest
- You pay your bills
- You spend the money that’s leftover

Save and invest first, before you spend money.

It's that easy.