The Secret to Building Wealth Most People Ignore
One of the reasons I believe most people never succeed at reaching financial independence is because they make things too complicated. They invest in elaborate investments they donâ€™t understand, but heard some guy on television screaming to â€œbuy, buy, buy!â€ They make fancy moves with their money, like taking out a second mortgage on their home to put down on a vacation home for the additional â€œtax benefits.â€
All the highly technical, overly complicated wealth-building advice in the world can be boiled down to four words, that if followed will practically guarantee financial independence to those who follow:
â€œBuy Assets, Avoid Liabilitiesâ€
Thatâ€™s it. Simply buy assets. Buy things that increase in value. Buy things that produce income. Avoid spending money earned in exchange for work on anything other than assets.Â Click source link below to finish reading.
Really great article on thrift; well worth the read.
Source: Frugal Dad