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Episode 16: Saving vs Investing: Earn + Save + Invest = Wealth
Learning to SAVE precedes learning to INVEST. Most people want to skip ahead to Investing, because it’s thought to be more glamorous. That’s how the media and the financial industry have propagandized the message. The industry wants you to “invest”…so that they can charge you fees.
Before you can invest, you need to save a substantial “nest egg”; otherwise the rewards for your efforts will be minimal. Mark Twain said, “You should be more concerned with the return OF your principle than the return ON your principle”. As you begin to build your nest egg, your net worth will be most impacted by your SAVING habits, not your investing achievements.
Save at least 20%…remember wealth building principle 10: Wealth is a lifestyle.
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Hosted by John Pugliano. For more information visit us at: www.wealthsteading.com or www.investablewealth.com
Copyright © 2014 Investable Wealth, LLC. All rights reserved. This podcast is for informational purposes only and is not intended to be a solicitation, offering advice or recommendation of any security. This podcast does not intend to provide investment, tax or legal advice. The content is strictly the observations and opinions of Investable Wealth, LLC. The information in this podcast is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Investable Wealth, LLC is an investment advisory firm licensed in the State of Utah.