Health And Your Money  Getting in Quick  Money and Health  Building Wealth  Links 

Building Wealth Getting Rich Staying Way

Only three ingredients are needed: income, discipline and time. Chances are, you already have two of them, income and time. All you need to do is add the third, discipline. And armed with the following knowledge, that key third ingredient may be a lot easier to find.

Compounding is the reinvestment of the interest you receive from the money you set aside. For example, if you invest $1,000 and earn 10% interest on your principal at the end of each year, you'll get in $100 interest at the end of the first year. If you reinvest that interest, the second year you would start with $1,100, and thus would earn $110 interest. If you stay with it, you'd more than double your money every eight years.

Compounding, Albert Einstein said, is mankind's greatest invention because it allows for the reliable, systematic accumulation of wealth. Einstein was a smart man. But you hardly have to be a genius to make this concept work for you.

Here's the bottom line, like it or not: The fate of your retirement, your comfort in older age, probably lies in your commitment to the concepts laid out in the paragraphs above.

For the vast majority of us, wealth creation is a slow and steady -- and powerful -- process. The tortoise almost always beats the hare.
It's not easy. But it's very, very simple.