It’s important to realize that it’s always the right time to start the process. In general, the longer your investment timeframe, the higher the net worth.
1
Track your expenses and set your goals. Try to prioritize debt payments and save for wealth-building investments like stocks, 401(K) and home down payments.
2
Each dollar you pay in interest and fees on loans is a dollar that can instead be put towards growing your wealth. The good news is that it’s possible to pay off your loans. It does take some discipline & planning though.
3
So you’ve started saving and have a plan to pay off your debts. You may even have some excess cash left over for investments. To become a millionaire, it’s critical to be consistent with your investment plan.
4
Ask any successful millionaire – having access to credit is essential to building wealth. Almost all major purchases in life require good credit. Here’s our guide on how to build good credit for more details.
5