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April 30, 2008


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It's all about the little things for me. I make ten minor moves that each save me $1 a month, that's $120 after a year. That's enough to start investing with, and it comes from things like making your own laundry detergent.

I think I'll stick with trying to build my wealth slowly.

It all depends...If you are 25 and enjoy your work and are saving NOTHING and are in debt, than maybe this article will speak to you...But as far as building wealth "slowly", If that is what you call investing/saving 20-25% of your income, with no credit card debt and paying down the mortgage, call me "slow" all day long...

Is anyone else surprised to see this article on FMF?

Yes, that's my definition of slow. Save regularly in a diversified portfolio, eliminate debt and keep working.

Trent --

Just for reference, this blog is dedicated to offering a variety of viewpoints on various money-related issues. I write from my own point-of-view, but that doesn't mean I don't allow others (in both posts and comments) to express contrary views.

So with that said, there's really very little that should surprise anyone here.

Okay, fair enough - typically the advice I've seen here is more conservative, "slow and steady wins the race" advice, which is more up my alley. There are certainly other valid viewpoints, depending on one's aversion to risk (or lack thereof).

I was just a little surprised because this article seemed to stick out more than some others.

Hey mates, thanks everyone for the comments and the contra-arguments :D I don't think someone sell their house tomorrow being "enlighten" by the article. But I do think people need to be more courageous in their life and their finances. I know I am trying hard to do it myself and I am making a lot of mistakes on this path - but each of them just makes me smarter. You should not get satisfied with mediocrity, that's what I am trying to say. If your life is not fulfilling now, strive for achieving your dreams even if losing assets is part of the path.

"You should not get satisfied with mediocrity, that's what I am trying to say."

So does that mean no index funds?

Personally I think it takes plenty of courage to stay invested in the market during these trying times.

Interesting article. I think some people are concerned that this is investment advice, that they should get out of index funds and grab a couple slices of sub-prime debt.

I think this is not so much what you should do with your money, as what you do with your life & your time.

Hell no, I am not qualified to give an investment advice and wouldn't give. You got it right, Michael, thanks for the comment.

The primary reason I believe that a person could not start building his wealth is because of the fear factor. Persons who are timid enough even to venture in their thoughts in building their wealth is as good as a warrior being defeated before the battle starts. First, you must have the courage to even entertain the thoughts of building your wealth. Secondly, persons who attempt to become wealthy quickly are doomed. Wealthy people like Warren Buffet, Bill Gates and Donald Trump built their wealth through times. Invest time, hard work, persistence and consistent savings and investing are the starting points of building your wealth. Money easy comes, easy goes. Money won abruptly like in the lottery and sweepstakes are short lived since the one who won it is incapable of managing the huge sums, so the following weeks and months, he/she is back to square one again. Have the courage to build wealth for what it will make of you - courageous, prudent, frugal,hard working, having integrity, savekaholic, investment conscious and above all God fearing. Have the courage to build wealth and build it gradually. Fashion and gradualness are the key points to building your wealth. Forget about the get-rich-quick schemes because they are panacea that will never be attained. Seek for the Utupian Wealth beyond your imagination but build it through times or in other words. invest or buy time to have it.

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