It is a fact that only 5% of the population account for 95% of the wealth in the United States
. For many people money escapes their grasp, but through education and wise investment practices it is possible for most people to reach financial independence. Following the counsel of New York wealth management advisors it is not uncommon for people from every walk of life to accumulate a portfolio of investments that can carry them into retirement and provide for their future needs. Starting as soon as you can you must create a savings account that is built up on a regular basis by the deposit of funds from employment.
After establishing a comfortable nest egg that is to be continually added to and never touched, financial experts suggest that you diversify yourself and start up a second fund that feeds your investments while continuing to contribute to your savings. By ensuring that you are sufficiently covered in the event of an emergency you can plan to put money into low-risk, low yield products such as a money market that will return a higher percentage than a regular account, but still limit the possibility of losing everything. Once that level has reached a similar status as the primary banking venture you are poised to make acquisitions of stock or real estate holdings that can greatly magnify your interest and earnings through careful planning and watching what the consumer index is doing as it moves up and down.
With a safety net of the first and second finances a pyramid is being built that has a solid base in a saving and gradually climbs to a point where higher risk and greater returns are expected. With level of the finances firmly founded it is possible to reach further, ever broadening the base through taking a minimum of 10% of your earnings from every source of income and strategically setting it aside in your initial savings account. While many people opt for the risky prospects without planning ahead, the smart investors have structured their financial success on the pyramid philosophy that provides for every contingency and proves to be a safe structure for developing a lifelong plan that will lead to greater stability and financial security as the individual enters retirement.
Knowing when and where to make the most of your money will help to establish a pattern of behavior that will attract greater riches you respect what you have and treat it with care. Making money then becomes an easier and more rewarding prospect as you manage your finances and plan for the coming years.