How Do You Build Wealth? Seven Critical Steps

How Do You Build Wealth? Seven Critical Steps


We are bombarded with financial advice from various corners, be it the internet, family or friends. While some tidbits may seem sound, they often lack depth and long-term vision, focusing more on immediate gains rather than comprehensive wealth building.

Conventional wisdom such as paying off mortgages quickly, maxing out 401(k)s or buying only term insurance can be too shortsighted and, while well-intentioned, can lead to significant problems down the line. For instance, retirees who have aggressively paid off their low-interest mortgages may regret missing investment opportunities to grow their wealth when interest rates rise. Those who deferred taxes through retirement savings may face substantial tax burdens in their golden years.

Thinking differently





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