Stages Of Wealth Building

DAVID FONTAINE: 10 Guiding Principles for Building Wealth

As we approach retirement age, many of us might dip into our retirement funds and other sources of income such as Social Security. But reaching a certain age doesn't always mean your wealth-building days are over. Some people may even decide traditional leisure-based retirement isn't for them. Many older adults continue working into their 70s . And with a pension and health benefits, some may even begin an entrepreneurial venture that was too risky earlier in life. Volunteer work, part-time jobs and even internships can enable you to explore a different field that you've always wanted to pursue, so don't close yourself off to these possibilities.

Pay yourself first. Save at least 10% of your monthly net income. This will be your saving vehicle for retirement, funding a new business or your childrens education. Then you wont feel quite as bad making those required expenditures such as taxes and other monthly obligations. 5. Support and encourage relatives and friends who strive to be entrepreneurs.

Spiehs Wealth Management

A:Spiehs Wealth Management expands our services by offering professional money management through our strategic investment partner, Gradient Investments, LLC (GI). GI is an SEC registered investment advisor offering clients 20 proprietary portfolios through its strategic investment partners across the country. T he portfolios are managed by their Chief Investment Officer, Wayne Schmidt CFA, MBA. Schmidt is a regular contributor to Forbes, T he Wall Street Journal, and a featured guest on Fox Business News. He has been quoted on the global economy in numerous nationally and internationally recognized investment publications such as Bloomberg, Reuters, and the Los Angeles Times. He is a Chartered internet Financial Analyst and a member of T he Chartered Financial Analyst Institute and the Twin Cities Society of Security Analysts.