Salient to Investors:

5 habits that prevent you from becoming wealthy:

  1. Being a “C” student who thinks they deserve an “A” lifestyle
  2. Inability to delay gratification by taking on debt. Credit card interest at 15%+ leads to financial failure –  even Warren Buffet has not returned greater than a 15% annual compound return on his investments.
  3. Spending too much on a car.
  4. Unwillingness to go the extra mile at work. Never take your work for granted – come in early, leave late, frequently ask colleagues if they need help, and be proactive with new responsibilities.
  5. Saving as if Social Security or a pension will support you. In its current state, Social Security can only provide 70% of benefits in the next couple of decades, while pensions are disappearing fast. Max out your 401(k), or save at least 20% of your after tax income.
  6. Not building enough passive income; like from dividend yielding stocks, REITs, rental properties, tutoring, starting a sideline business, earning royalties, and building a CD ladder.

If you have a net annual salary of $30,000 a year then you are in the top 1.23% of richest people in the world.

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