With investing, as in most areas of our lives, it's the little things that can make a big difference.
And this is clearly shown in the infographic below from Motif Investing.
They recommend 4 investment strategies to grow your wealth faster:
- Spend less than you earn and save the difference - and they give an example, if the money going towards a $4 latte each day was invested, it would amount to $25,994 in 10 years or $440,198 in 40 years.
- Start saving early so you can benefit from the power of compounding.
- Diversify - don't put all your eggs in the one basket
- Watch your investment expenses -these can eat away at the bottom line. Keep in mind that the investment industry is designed around taking a portion off of each dollar spent, and that this money helps employ millions of people around the world. These fees, commissions, and other extras certainly add up.
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Source: Motif Investing