Are your daily habits conducive to your goal for early retirement? Are they honoring simple but fundamental financial truths, like living within your means and taking effective action?

Here are 12 quick tips from RealRenta to help you translate wealth building principles into Real results.

A written plan is a roadmap and is essential to crystallize your plans and goals.

2. Don’t spend to make yourself look wealthy, create real wealth instead

Most people want the illusion of wealth rather than actual real wealth. Don’t choose lifestyle over freedom. You won’t get rich by spending money

3. Invest in your financial education, it will pay dividends for a lifetime

You can profit from any financial condition if you know what you are doing through financial intelligence.

4. Start now- don’t procrastinate

The principle of compounding wealth is valuable but it needs time to work. Procrastination kills time and it kills wealth.

5. Automate your wealth building, use automatic methods to systemat

ically build your wealth

Arrange your finances so that certain things happen to grow your assets- enforced discipline will keep you on track.

6. Take complete responsibility, nobody is going to do this for you

Treat your investments like a business, organise your life so that wealth accumulation becomes a habit.

7. Don’t under commit because of fear, don’t set yourself up for failure

Don’t commit to anything unless you are willing and committed to doing the work required to get the desired results.

8. Make your money hard to get to

When you build a nest egg, don’t take money out of it to fund your lifestyle, just let it grow until you are financially free. Smart investors put their money in hard to reach places like real estate.

 9. Have a risk management strategy in place

Practise defensive investing through risk management strategies like diversification, asset selection, valuation and a sell discipline.

10. Use common sense

Avoid anything that sounds too good to be true. This is why valuation is so important. Only pay for investments that put more money into your pocket than take out.

11. Plan your estate

Don’t leave a messy financial legacy for your loved ones. Get your affair

s in order and organise :

• Power of Attorney
• Will
• Living Trust
• Life Insurance
• Guidelines for nursing home or care when incapacitated
• Funeral Arrangements & Insurance

 12.  Look after your relationships, health and hobbies

Whilst you are still here, look after your health, invest time in relationships that sustain you, build connections with family, friends and business associates. In the end- Money is just the means to an end.

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