Wealth Building Strategies For Young Couples
Wealth Building Strategies are necessary for everybody but is more advisable for young couples. For example, if a couple invests 300 dollars monthly in S and P Index for 30 years, it will give them a million dollars. Some people might keep wondering what they would do to get one million dollar all through their lives without knowing that they have the power in their hands.
I decided to use S and P index as an example because it represents over 65 percent of all the United States equity stock and has been recording over 11% in interest in the past 20 years. This is not some figures to joke withy because the reality they posit is that anyone can actually create wealth if such person knows how and determines.
There are lots of young couples who might not look at any wealth building strategies simply because they are already deep in debt as results of renting new apartment to start life, paying cell phone bills and the student loans that might still be hanging on their neck.
What these sorts of young couples do not realize is that with the power of compounding interest rates, they can easily get to a million dollars in a couple of years without much effort on their side. They just need to start as soon as possible so that the time will start counting for them.
Wealth building strategies can start from that $20 you save weekly. You may be thinking that it is nothing but by the time you realize that it has given you a thousand dollars you did not work for, you might probably be inspired to increase the saving. The vital point is to start now and continue to keep something aside on a regular basis.
You can increase your savings but that would not be if you are not saving at all. There are many couples who were really surprised by the time they emptied their change jars. You can simply add up whatever that is left in your pocket for the day and keep it in this jar to be opened in six months. Believe me; the result will inspire more savings.
As a young couple, your wealth building strategies would not be complete without finding the right mortgage. It is always much better to get mortgage with flexible terms so that you can save more on the interest. Also try to attend some valuable real estate investment seminars.
These is not just for where you are now, financially but try to look at the big picture and reason that the earlier you start climbing the financial and investment ladder, the best for the two of you.
Like we mentioned earlier, there are many wealth building strategies you can take advantage of to be on the right route towards future financial security. You can start attending seminars and talks on wealth building and be sure to start climbing the financial ladder faster than your peers who do not know the tricks you are tapping from. It would not cost you much to get the necessary knowledge to put your self and future family in sound financial footing.
by: Dan CavalliAbout the Author:You can use all these strategies to build wealth and start a business and improve your life but it means nothing unless you can build it quickly for the long term. Get my FREE business and wealth building secrets at: www.the-richest-man-in-babylon.com