Find the simplest formula to build your wealth
from The Simple Path to Wealth: Your road map to financial independence and a rich, free life by J.L. Collins
How to Apply This
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Spend less than you earn.
Cut your usual expenses as much as you can. -
Invest at least 10% of your income in the stock market or real estate.
Before investing, learn how the stock market or real estate works first. -
Avoid debt at all costs.
If you have a debt with an interest rate of less than 3%, pay it off slowly and invest more money. Meanwhile, use your best judgment if your debt has an interest rate between 3-5%. If the rate is higher than 5%, pay it off immediately or as quickly as you can.
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