What are the 6 behaviors that predict future wealth? Our moneyman, Certified Financial Planner Paul Fain, joins us now to share the traits of people who know how to build financial security.
PAUL, LET’S DIVE IN, WHAT ARE SOME OF THE BEHAVIORS OF GOOD WEALTH CREATORS?
1. Planning: Goal-setting and future orientation.
2. Responsibility: Acceptance of the role of actions, abilities, and experiences in financial outcomes.
HOW IMPORTANT IS CONFIDENCE? SO MANY INVESTORS ARE INSECURE AND FEARFUL…
3. Confidence – In financial management, investing and household leadership.
4. Focus – The ability to focus on detailed tasks through completion without becoming distracted.
IT’S HARD TO BUILD WEALTH WITHOUT A SPENDING PLAN RIGHT?
5. Frugality: Consistent saving, dedicated commitment to lower spending and rigorous adherence to a budget.
6. Social Indifference: Immunity to social pressure to purchase the latest luxury goods, clothing and cars.
FAST MARKET FACT: Average Market Returns
March Average Return 1950 – 2018: 1.05%
Best Months: April, November, December
QUESTION FOR OUR MONEYMAN?
Send them to Paul@assetplanningcorp.com!
You can also reach Paul by using the contact page on APC’s website.
