A Best Kept Secret of Wealth Creation
Everyone thinks that creating wealth is for the very smart, fortunate, or already rich. Some secret sauce that the average Joe can never reach, so most of us decide not even to try. I’m here to tell you…It’s not rocket science, you don’t need to have any special educational requirements, and anyone can do it. I can tell you how in just one word.
Before I tell you the word, I’ll tell you that this process has the potential to turn $100 per month into over $327,000 without any complex trading techniques, and in fact, I think that number is conservative, meaning if you follow my one word strategy you could end up with more than the $327,000 quoted above.
This is not a product or anything that you need to buy. It’s not a book, download, or video you need to watch. I’m giving you one of the best kept secrets of wealth creation with no obligation.
It’s not even anything new, you do it today in certain parts of your life without even thinking about it.
One of the best kept secrets to wealth creation is…
AUTOMATION!
It’s been labeled, “Set it and Forget it”, “Pay Yourself First”, “Compounding”, “Dollar Cost Averaging”, and any other name that would help someone sell a book.
Here’s an example of how those numbers would work:
Let’s say your salary is $24,000.
You save 5%, that’s $1200 per year, or $100 per month
Let’s assume that you will be able to increase that $1200 per year by 4% each year. So year 2 you would save $1248 or $104 per month and so on…
That monthly figure is automatically taken from your bank account and moved to your investment account.
Your investment account automatically purchases shares of a growth orientated portfolio that obtains a 7% return.
You do this for 30 years….
Bang $327,725
In this example, your total contribution would be $83,713. The power of compounding would potentially give you the additional $244,012.
This isn’t a complex or difficult strategy, in fact my two kids did it at a very early age and they are reaping the benefits of it now. But it does require you to take action. Open an account, set up an automatic transfer and pick a suitable fund.
If you are able to open the account with $5,000, I can help you get started, and you can do it from your phone, iPad or computer right now by clicking here. Or you can email me the below three pieces of information and I’ll get the ball rolling for you.
(mick.graham@raymondjames.com)
Your Name
Your Cell Phone Number
Your Email
Whether you do it through me, or on your own, don’t wait. The longer you let Automation work the better the results can be.
Opinions expressed in the attached article are those of the author and are not necessarily those of Raymond James. All opinions are as of this date and are subject to change without notice. Individual investor's results will vary. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions. Keep in mind that there is no assurance that any strategy will ultimately be successful or profitable nor protect against a loss. Investing involves risk and you may incur a profit or loss regardless of strategy selected, including diversification and asset allocation. Every investor's situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.
