Building Wealth

After you have accomplished the task of removing debt, the next step is to start building wealth.  The keep to accumulating wealth is simple.  Save.
And earn interest.  Now that you have paid off the debt, you should use the money that you used in the past to pay off debt to put towards savings.
We also recommend that you have six months of your salary saved in cash and that you have life insurance before you star investing money in stocks
and real estate.  Common questions about savings:

Should I pay off my mortgage before or invest in stocks?

If you believe that you can earn a hire return investing in stocks than the interest you pay on your mortgage we recommend that you invest in stocks.
If not then we recommend that you pay them money towards your mortgage

Should I take full advantage of the matching on my 401K offered by my employer?

Yes, Yes, and Yes.   If your employer offers matching on your 401K we recommend that you do everything possible to take advantage of that
matching.

 

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