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.
Source: Motif Investing
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.