These 3 Tips from the Rich Can Help You Build Wealth

A back-to-basics strategy is your best shot at retirement security.

For its recent Insights on Wealth and Worth report, U.S. Trust asked 684 high-net-worth individuals with at least $3 million in investable assets how they built their wealth and what behaviors they attribute most to their financial success. I’ve boiled down their responses to three practical tips that even regular Joes can use to enhance their financial security:

1. Focus on building wealth slowly, not getting rich quick. Although many people think of the wealthy as trust-fund babies raised in privileged backgrounds, 58% of the wealthy individuals surveyed said they came from a middle-class background, and 19% grew up poor.

Read more: These 3 Tips from the Rich Can Help You Build Wealth

Source: Money

The Simple Reason Why You Need to Invest (with Video)

Financial advisers explain why investing can help you live happier.

Living paycheck to paycheck won’t allow you to retire comfortably, if you can retire at all. So instead of spending your excess cash—or even depositing it in a bank account—consider investing it for retirement.

According to this team of financial experts, investing can preserve your spending power in the years to come, and allow you to enjoy a long, stress-free retirement.

“It’s hard to keep up with inflation by just putting money into savings accounts,” says Gail Linn of Metlife Financial Group of New York.

Read more: The Simple Reason Why You Need to Invest (with Video)

Watch Video: Why Should I Invest At All ?

Source: ime.com/money/