E-mail to a friend X

*Required

  • (Separate multiple e-mails with a space)

Common money myths and how they affect your relationship

Want to retire rich? It's possible -- just don't believe these common misconceptions.

By David Bach

Myth No. 2 It takes money to make money.

Fact No. 2 It takes very little money to make money... as long as you are patient and disciplined.

My grandparents had only a few dollars a week to invest. Nonetheless, over the course of several decades, they became wealthy.

I can see you rolling your eyes. That was then, you say; this is now. Well, not so fast. Let's look at the numbers. The nice thing about building wealth is that it's basically a numbers game, and the rules don't change much over time. Consider the following:

A Dollar Is Still Worth a Lot of Money... If It's Forced to Grow Up!

I want you to do an experiment. Go down to your local coffee shop one morning and for one hour count the number of couples buying cups of coffee. If it's a fancy franchise like, say, Starbucks, the price of a nice little cup of cappuccino will be about $2.50. Watch how many nice normal people spend that much every morning on coffee. Have you ever stopped to think about what the cost of those little cups of coffee can add up to over time? How much could you make if you spent $1 less on coffee every day and put what you saved into a good investment program? Let's take a look.

« Previous

Next »

Your Comments

Comment reported

Thank you for reporting this comment as inappropriate.

Back to Comments »

Add your comments

Please fill in all required fields (*).

Back to Comments »

Advertisement

Featured Menu







Our Partners



Our Contests