Growing Money

The Turtle Wins The Race

Everyone wants to get rich quick, because it's easy and everyone likes shortcuts. But in reality, how many legitimate get-rich-instantly stories are there? Maybe once in a while someone hits the jackpot in lottery. Or someone receives a generous inheritance from a distance uncle whom he didn't know existed. Or someone discovers a pile of gold in his backyard. So, there are a few stories like these, but chances are... that person in the story is not you. In real life, getting rich or attaining a sizeable amount for retirement is a slow and dedicated process. The book, The Millionaire Next Door shows that most of the rich folks attained their wealth by saving up over decades. You must constantly remind yourself, the turtle is the one who's going to win the race. Saving up and investing wisely is a huge part of working towards financial independence. And you want to protect your base. It's better to have your wealth grow slowly and steadily than have it grow fast and disappear.

posted by Sean @ 3/08/2006 05:28:00 PM