How to Get Rich and Stay Rich
Ten strategies that are used to help yourself become rich:
1. Weigh each purchase based on a cost/benefit analysis.
2. Put discretionary money to work.
3. Prefund life’s big expenses such as college education, weddings, etc.
4. Pay down your mortgage.
5. Participate in your companies 401K and max up to what they match. Invest the rest elsewhere.
6. Sign up for a monthly auto transfer from your bank account to a mutual fund.
7. Buy a cash-value “whole” life insurance policy to build some assets.
8. Take out a bank loan to make an investment.
9. Do not borrow money to pay for assets that have little value.
10. Figure out how much money you will need to get from point A to B and budget for it. Do not wait until the last minute.