4 Simple Ways to Grow Wealth

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Grow WealthWe all have different ways we want to enjoy life. Some want to travel the world, some want to have a comfortable retirement and so on. I guarantee that many of the things you want to do require one thing – money. I got this neat little infographic from our friends over at Motif Investing. It’s a perfect fit for Sprout Wealth as it’s about simple ways to grow your wealth.

There are a fair number of posts on the site devoted to growing wealth – from seasonal opportunities to more niche options. What can tend to get lost in that is the basics. The basics may not be exciting or cutting edge, but they can help you ultimately to enjoy life the way you want to.

The infographic shares four simple ways to grow wealth, as they relate to investing, and those are as follows:

  • Small amounts make a difference
  • Start saving early
  • Diversification is your friend
  • Minimize investment expenses

Investing and Growing Wealth

I’m obviously a big fan of investing. Far too few do it the wise way, but when done it is one of the best ways to grow your wealth – if not the best. Unfortunately, too many complicate it and make it into something that it shouldn’t be and end up chasing gains instead of looking at investing with the long haul in mind.

That’s what I appreciate about the infographic from Motif Investing. It offers a simple and straightforward way to grow your wealth. I don’t necessarily agree with their latte factor argument as you really can’t cut your way to wealth.

However, I believe their larger point is on target as they’re talking about small amounts when it comes to investing. Too many, myself included at one point, allow the amount they’re starting with hold them back from investing. As the table under point #2 shows, starting early, even with a relatively small amount, can have a significant impact over time. Exciting, no, but definitely possible.

 

 

investing tips to grow wealth

4 Investment Strategies to Grow Wealth – An infographic by the team at Motif Investing.

 

 

Why do you think we can tend to overcomplicate growing of wealth or investing? Where do you stand on the latte factor? When did you start investing?

 

 

Photo courtesy of: ©Depositphotos.com

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8 COMMENTS

  1. I agree you can’t become wealthy just by skipping a latte or other small expenses. But if by “cutting expenses” people mean something more drastic like refusing to inflate their lifestyle as their income rises, then you’ve got a good formula. Iyou f can live on less while increasingly making more, you’ll having more to invest and need less to retire on, since you won’t need as much income to maintain a more frugal lifestyle.
    Kalie recently posted…The Futility of FashionMy Profile

  2. While the benefits of starting to invest early are well known, that infographic puts the benefits in very concrete terms that we’ve not seen before. And such a great reminder to minimize fees — love our Vanguard admiral shares for that!

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