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11 signs you're going to be wealthy, even if it doesn't feel like it

Published by Business Insider on Sun, 18 Mar 2018


Warren Buffett is one of the richest people in the world because he saved and investedand didn't follow get rich quick schemes. Wealth is attainable to everyone with good financial habits, and you may already be on the right path.Spending less money than you earn, saving for retirement, and investing money are simple ways to become wealthy.Owning bitcoin won't guarantee future wealthbut the right saving and investing strategies will.At least according to Warren Buffett, who considers cryptocurrency a get-rich-quick scheme. Though chances are slim you'll end up with themulti-billion-dollar fortuneBuffett has, there are sensible ways to build wealth without betting on a bubble.It's hard to put a number on "wealth" because it's personal and it depends on many factors, including where you live. Generally, having wealth means not having to worry about being able to pay your bills and knowing a comfortable retirement at a decent age is feasible.These 11 indicators are easy to follow and will help you build wealthwhatever that means to you. Even better, a lot of these tips go hand-in-hand and require little work or maintenance.If you are already following this advice, congratulations! You are on the road to being wealthy.SEE ALSO:Building wealth starts with out-thinking your emotions ' here are 5 mental traps standing in your wayDON'T MISS:10 US cities that make it easier to build wealth thanks to savings in one key areaYou started saving for retirement as soon as you started working.A portion of every paycheckincluding the first one when you start workingshould be set aside for savings.Retirement may seem like a long way down the line when you first start your career, but the wait will be even longer if you don't prepare. Saving as early as possible triggers compound interest and can lead to a huge difference in the long run.You always make loan payments on time and in full.Whether its a student loan or a mortgage, it is best to make all payments in full and on time. Paying off less and missing loan payments will end up costing more in the long run.Business Insider'sine Cain has sometips on how to pay off student loan debt in your 20sincluding paying before the grace period, using auto-pay, and prioritizing loan payments.You clip coupons and look for good deals.Just because you can afford to shop at Whole Foods or your hip local market doesn't mean you should, especially if you want to end up wealthy.The USDA says that a family of four can spend between $150 and $300 a week on groceries. Shaving those expenses in half can really accumulate on the savings side. Shopping at a store like Costco,known for its bulk products and huge savings, is economical and fun.See the rest of the story at Business Insider
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