My Smart Retirement

There’s this consensus that people who obtain wealth just make a lot of money or they inherited a lot of money. But the reality is most people who have a lot of money are good savers. A lot of wealth is built by people who just make a decent salary or even an average salary. They just live within their means. We’ll share some of the commonalities of people who are wealthy. They buy used cars Wealthy people often don’t buy a new car. Studies show that new car values go down in the first month by 10% and within the first year, 20%. It’s not prudent to buy a vehicle that will lose that much value. The average person has a car that’s about 5 years old. If you’re constantly making payments on a car, you’re not using your money wisely. By keeping the same car for a long time, you can save a lot. But that goes against the grain of what many people do. They don’t buy a house they can’t afford People often rationalize house purchases. But people who are good with money know a good piece of real estate is one you can a