How To

How to Become Wealthy With Your Income

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By seaj25
User-Submitted Article
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Find out for yourself just how easy it is to become financialy independent...on your CURRENT INCOME! You will build wealth for retirement and enjoy more of your money now.

Difficulty: Easy
Instructions

Things You'll Need:

  • 1)income
  • 2) Decipline to save, then save and invest until it becomes second nature.
  • 3)access to internet connection for research a couple times a month.
  1. Step 1

    Pay your savings account 10% of your paycheck first just as it were a bill. Nobody gets paid until this is deducted out!

  2. Step 2

    Build up a minimum of $1000.00 in your savings. You may decide you want more but maintain your balance above it.

  3. Step 3

    After you have your savings at a balance you are comfortable with keep saving until you bulid up an additional $500.00. Then open up an online trading account with a discount brokerage firm. I recommend Trade King, Scottrade, or E-TRADE. Research the barchart at barchart.com and invest your $500.00 in any of the top five stocks..then put a 15% trailing sell order on it. Then save another $500.00 and repeat. Your return on your money will average over 20%..TWICE as much as a Roth IRA!

Tips & Warnings
  • Set a goal to have about ten stocks in your portfolio....But try not to have much more than fifteen, simpily because it will be easier to maintain.
  • All investments have some risk so make sure you do reseach first. The steps in this article are tested and used by professional traders everyday, but TRADE AT YOUR OWN RISK!
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