How Can I Get Rich? 6 Ways to Build Wealth

How Can I Get Rich? 6 Ways to Build Wealth

By Evor C. Vattuone, CFP®

First, a clarification: This is an article about the “how” that makes a person, couple, or family wealthy. That is, how do people go from having a little money to having a lot? This article is not about what being wealthy means to you or, in other words, how much money would make you wealthy. We’ll save that philosophical discussion for another article.

How to Really Build Your Wealth

How to Really Build Your Wealth

By Evor C. Vattuone, CFP®

How do we become wealthy? Our clients often ask this of us, naturally, as their financial advisors. Sometimes they’re surprised to hear us not say, “Save more,” “Don’t accrue too much debt,” or “Put your investments here or there,” as a first course of action. Of course, long-term savings of at least 10–­15% of your income starting at a young age, combined with a decent investment plan left untouched for long periods of time, will inevitably produce substantial amounts of wealth. However, if you really want to get ahead, invest in yourself—and keep investing in yourself!