Ultimate Strategy #1: know Why.
The ultimate strategy for any personal financial plan begins with the answer to the question Why. Most people go through life without knowing the answer to the question: What Matters Most
Ultimate Strategy #2: Work
The ultimate strategy for success in your career is work. Hard work pays off. If you take the time to answer the question “Why”, you’ll quickly discover the truth. Your work matters. What Matters Most about your work may not be clear at first. When Steve Jobs was your age, he probably didn’t answer the question “Why” the same as he did 10 years ago. Work builds character and character is an essential element of success, significance, and satisfaction in life.
Ultimate Strategy #3: Plan
The ultimate wealth building strategy begins with a plan. 98% of us will die at some point in our lives – so a little planning goes a long way (Ricky Bobby from Talledega Nights)
Ultimate Strategy #4: Save
The first law of personal finance is simple: Spend Less than You Earn – Save More for What Matters Most. If there is one ultimate strategy you must practice on a daily basis – its this law of personal finance.
Ultimate Strategy #5: Invest
If you want to become a millionaire by the time you turn 50, you will need to take advantage of the second law of personal finance: The Law of Tax Advantaged Investing. The ultimate strategy for investing requires a few basic techniques to reduce your taxes while you save more for What Matters Most.
The ultimate wealth building strategy – for you – is to start today. I hope you’ll join me. See you in class and don’t forget to subscribe to our podcast in iTunes (key word search iMakeYourMoneyCount). I’ll talk about the ultimate strategy for building wealth on this week’s show.
Today’s topics in #PersonalFinance at the Bauer College of Business at University of Houston: #Why #Work #Plan #Save #Invest #Freedom
The Ultimate Strategy for Managing Money – this week’s topic on iMakeYourMoneyCount.com