You don’t need to earn a large, six-figure salary to accumulate a good-sized nest egg and build wealth. To ensure a solid financial future, plan ahead and form your spending and savings strategy for each phase of your life, whether you’re a recent college grad, a mid-life parent getting your kids ready for college, or a senior citizen looking forward to retirement.
Wealth Building Rule 1: Choose a Spouse with Compatible Financial Goals
Finding and sticking with the right life partner, especially in the financial sense, can make or break your chances of becoming wealthy. In fact, according to the research of author and academic Dr. Thomas J. Stanley, self-made millionaires are far more likely than the general population to be, and stay, married to the same spouse for life.
It matters that you and your life partner both work towards the same financial agenda. If you seek an early retirement, he or she helps bring in extra income or clips coupons to save more money and take advantage of interest compounding. If your priorities involve a debt-free lifestyle, he or she supports this without secretly shopping behind your back.