Building wealth is a challenge that only the most persistent people can navigate. It takes real self-control and discipline to be able to reap beneficial return and to know that your wealth grows over time. Your present work serves as a foundation for your future happiness.
So what should you do?
When first seeking your long-term job, make sure that it is something you are truly passionate about. Your work will keep you motivated, energized, and engaged. Something that is not widely known is that you will benefit greatly from remaining with your employer for as long as you can. Research shows that the wealthiest retirees stayed with one employer for 30 to 40 years. As you settle into your job, invest in your future financial freedom by maximizing your 401(k) contribution, matched by your employer. You will grow your money to use (and enjoy). All of these little steps will work towards building wealth for you in the future.
Remaining debt-free is ‘easier said than done’, but ultimately, it can still be done. It just requires the self-discipline to avoid unhealthy spending habits. Remember that interest tends to pile up and snowball until it becomes too much to handle. It affects your overall financial health and will derail you from your long-term financial goals.