I came across a simple little slide show on the Investopedia website today - 6 Simple Steps to $1 million. Even though the site is US based it is definitely applicable to Australians and provides simple starting strategies to build wealth. The strategies included:
1.Stop sensless spending
2. Fund your retirement plans ASAP
3. Improve tax awareness
4. Own your own home
5. Avoid buying expensive new cars
6. Don't sell yourself short with your work
The final piece of advice from the slideshow is don't rely on luck.
These are the basis for building a significant nest egg to meet the gaols and aspirations you have that require financial funding. The sooner you get started the better.
From here yo can fine tune your plans by optimising the investments into which your savings are placed. Take a look at tne building portfolios page of the site for more information on this,
Regards,
Scott Keefer
