Building wealth requires patience and consistency – get-rich-quick schemes usually lead to get-poor-quick results.
Real wealth accumulation happens over years and decades through steady saving and investing.
Focus on your savings rate (percentage of income saved) rather than absolute dollar amounts.
Someone who saves 20% of a modest income is building more wealth than someone who saves 5% of a high income.
Avoid the temptation to chase investment fads or time the market.
Boring, consistent strategies like index fund investing often outperform complex schemes over the long term.
Celebrate small victories along the way while keeping your eyes on long-term objectives.
