A few years ago, Howard Stern on the radio and they were playing some clip of a celebrity who lost some weight weight. An interviewer asked how she lost the weight, then Howard Paused the clip and sarcastically quipped, “Let me guess: diet and exercise”. The clip continued, and sure enough, that was the answer.
That stuck with me all these years, because OF COURSE it was diet and exercise. That’s what has worked for everyone forever. And everything else anyone has tried doesn’t work.
I think so many of us, when attempting something challenging, look for a secret shortcut other than the strategy we all know works and has always worked. We’re looking for a shortcut because that path we know works is difficult. If you want to get fit, diet and exercise. And the same is true for building wealth. Save and invest. Spend less than you make, and invest the difference. The two rules.
But just because it’s simple, doesn’t mean it’s easy. It takes discipline, practice, hard work, perseverance, and a lot of time. But don’t look for a secret because you won’t find it. It’s not bitcoin, forex, day trading, MLMs, or any other get rich quick nonsense. Live below your means and invest early and often. If you want to get rich faster or you want to get more rich, do those things harder.
And if you want to get better at it, keep learning, reading and practicing. Stay persistent. Persistence and improvement is the solution to all of life’s problems.
As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.
Mortgage rates have shot up almost 3% in the last two months! I don’t personally have a mortgage, but I happened to Google “mortgage rates”