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The Power Of Compounding

https://dariusforoux.com/the-power-of-compounding/

dariusforoux.com

The Power Of Compounding
Do you have a long list of goals, desires, and wants for your life? Do you want to learn more? Earn more? Improve your skills? Get the most out of your relationships? Live better? All those things are good. Life is about moving forward and making consistent progress.

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Real success happens when we focus on one thing at a time

Real success happens when we focus on one thing at a time

Most of us believe that success happens all at once. Real life is different. Success is sequential, not simultaneous.

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Success Adds Up

Success Adds Up

Things add up. You learn one skill. Then another. You finish one project. Then another. Over time, your accomplishments add up to form an impressive feat.

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You can achieve big things with small actions, that build up over time

You can achieve big things with small actions, that build up over time
You don’t build a strong body in a day, month, or even a year. It takes years of consistent effort. Shortcuts don’t exist, no matter how ‘smart’ you work.

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Education and wealth

College degrees can add significant wealth. The more education you have, the more you’ll earn and the less likely you are to be unemployed. And if you can keep debt low while getting th...

Controlling expenses and wealth

Those who control their spending do much better. This doesn’t mean you have to save on EVERYTHING, just some things. Enjoy your life by spending on what you want here and there, just keep it in line so you have excess to save and invest. Even 10% will make you wealthy over time.

You’ve probably heard that time is your greatest investing asset. It’s true. The more investments earn and grow on their own, the greater they become.

Investment value is also greatly impacte...

You’ve probably heard that time is your greatest investing asset. It’s true. The more investments earn and grow on their own, the greater they become.

Investment value is also greatly impacted by the amount invested.

Many life transitions happen in your 30's

From moving up in your career to buying a home. Making smart moves with your money during your 30's can help you achieve future financial success.

Focus on percentage of income saved, not the dollar amount

Over the long term, it's not as much about the dollar amount you save, but the percentage of your income that you dedicate to saving and investing. By focusing on percentages, you can ensure you're always saving more as you earn more. 

Spend time tracking your money

Most people react to their finances. The problem with that is that you rely on chance to have enough money in the bank when you actually need it. Be intentional about your money and spend time reviewing and evaluating it. If you don't, you'll never know if you're moving in the right direction or not.

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Wealth Is A Relative Term

Wealth Is A Relative Term

The definition of wealth is personal. It may mean something different to everyone.

To some people, wealth is always going to mean money. But it's not t...

How Much You Need to Become Wealthy In Dollars

According to a Modern Wealth Index Survey, the amount needed to be comfortable in America is $1.4 million. To be wealthy, you'll need a net worth of $2.4 million.

An average pre-tax yearly salary of $389,436 is needed to be in the top 1%, although it varies by state.

Buying Time

We all, rich or poor, have the same 24 hours in a day. But we can use our money to buy more time. For example, by eating out, you don't have to decide what to cook, shop for ingredients, cook, and clean it all up.

If you can carve out more time for yourself, you can use it in other ways that will improve your life. You can start a side hustle, exercise, read, or spend time with family and friends.