4 Keys for Building Wealth

1. 4 Keys for Building Wealth Many people emphasize the investing side of wealth building over the saving side. They analyze years' worth of mutual fund data. They statistically break down market history. They allocate their assets down to two decimal points. They search for the highest yield. While all of this has value, it can't make up for not setting money aside to begin with

2. Use Debt Strategically - Don't spend more than you earn Some times debt can be useful most of the times it creates problems. If you borrow money to get control over an asset, like buying a home, debt can be a useful wealth building tool. If it is used for consumer goods, it tends to create problems. Using it for consumer goods happens when you spend more than you earn.

3. Budget - know What you Spend You can't manage what you don't measure. A lot of people are clueless about where the money goes that they take out of the ATM or the impulse buying on their debit card. Many times they simply wait until the end of the month to see if they have any money left. If they do they may save some of it.

4. Power of Compounding - Money makes money Compounding wealth is where you get interest paid on previously earned interest and growth on previously earned growth. This is where your money set aside makes its own money. The benefits of compounding take a bit of time to show up but when then they do they do so exponentially.

5. Taxes and Expenses hurt - Defer and Economize They help to reduce your current taxes and allow you to defer taxes on your investment earnings. Both of these, when compounded, add a lot to future wealth building.

6. If you don't know investment funds, know your fund manager at DHANDHO FUNDS Address: 1220 Roosevelt, Suite 200, Irvine, CA ,USA Call Us On: +14015007609 URL: http://dhandhofunds.com/