T magi f cd Itrst
I you’re young, you may not think you need to open a retirement account. You prob-ably think it’s easier to worry about it ve years rom now. Or ten. You’re wrong. Nomatter how young you are,
is the time to begin saving or retirement. In
, David Bach writes, “The single biggest investment mistake youcan make [is] not using your [retirement] plan and not maxing it out.”Ater reading
The Automatic Millionaire
a couple years ago, I opened a Roth IRA atSharebuilder. It was easier than opening a checking account. Don’t understand retire-ment accounts? No problem. This book is or you.
Saig is t t wat
I you do not spend less than you earn, and i you do not save the dierence, youcannot build the wealth you desire. The rich are not rich because they
a lot o money; the rich are rich because they
a lot o money. You may be skeptical. I was once skeptical, too. But over the past three years I’veread a lot on the subject o wealth-building. Books like Stanley and Danko’s
make it abundantly clear that it’s not a high income that leads towealth — though obviously that does not hurt — but the ability to save. Those whobecome wealthy do so by spending less than they earn.I saving is the key to wealth, then
is the hand that turns the key to unlock thedoor. There is no reliable method to quick riches. There are, however, proven meth-ods to get rich slowly. I you are patient, and i you are disciplined, you can produce agolden nest egg that will hatch later in lie.