Getting rich quick is plain unrealistic. According to the Federal Reserve, about 50% of Americans do not have enough money to cover a $400 emergency. To help you skirt this problem, finance expert David Bach offers these two simple tips:
SAVE. Pay yourself first automatically. Save one hour a day of your income and put it into your 401k plan or an IRA account.
INVEST. Set up a systematic investment plan. It’s never too late. If a 50-year-old begins saving $20 a day at a 10% rate of return, within 15 years he or she will have saved $248,682.
Following these tips won’t get you rich quick, but they will surely help you live a rich life.
