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One crazy easy part of wealth building is….

Simple. Ridiculously Easy. It’s silly really.

 

I’ll start out by saying that building good habits is hard for anybody, using health and fitness for an example because it requires daily discipline and ongoing action. Let’s say for argument’s sake to be healthy with having a busy schedule you have to wake up an hour early, workout in some form for thirty minutes, then take 5 minutes to make a healthy breakfast shake. Not the end of anybody’s world but let’s face it, a one-hour daily commitment is a lot for most people.

 

But I am not lazy you say? I’ll do that no problem.

 

What if I told you that to really hit your goals you needed to commit 2 hours a day to this, and not just in one brief outing either. You’ll have to exercise twice per day, cardio activity in the morning and weight training in the evening. You also don’t have to just eat a healthy breakfast, but also a lunch and dinner of wholesome nutrient dense foods…. AND have a protein shake as a snack in-between meals. We are really ratcheting up the daily long-term motivation that will be required to hit that end goal. The hardest part of this, in reality, isn’t the work you’ll put in, it’s forming the habit of doing this daily FOR yourself. You will have to spend a whole bunch of time on YOU.

 

 

Not only will it require daily motivation, several hours of your time, but you won’t see results for months. Goals won’t be reached for years. The true dagger here is I can almost say with certainty that you will NEVER reach your full physical potential, not to the point that you will look in the mirror and say “This is it, my body is perfect”.

 

You will never have a perfect body. Or the “ideal” amount of wealth.

 

 

More bad news huh? Just stick with me, the easy part is coming. Health and Wealth go hand in hand, but there is no modern technological way to put your health on autopilot. Luckily though you CAN automate both your savings and investing, setting this up only requires short-term motivation. Set it and FORGET it. A study performed by Fidelity several years ago confirmed what most financial advisors already knew to be true, when it comes to long-term investing – particularly in index funds – YOU, the investor, are your own worst enemy. Want to know who’s portfolios performed the absolute best?

 

The deceased. That is correct, dead people don’t react to market conditions. They don’t sell low or buy high, those accounts just mirrored the market.

Historically the market has done VERY WELL.

 

Please breathe a sigh of relief when I say, you don’t have to die to win here. Just invest on autopilot and forget about it, that’s what Jim Collins recommends in his book “The simple path to wealth”. Historically speaking, the key to winning here is setting investments on autopilot and then doing nothing to help yourself. Maybe you’ll need to consult a financial advisor quarterly or annually to stay on path, I personally think that’s a great idea. But the takeaway here is that when you compare building health to building wealth, one of the two is easier to accomplish in the long term hands down.

 

Personally, I like using technology, so a micro-investing site like Acorns is perfect for me. I’m not sure that it will be a long-term investment spot for that money, but it makes saving/investing simple and mindless. A feat you just can’t duplicate when health and fitness is concerned. I also make weekly deposits into other investing platforms and savings accounts, and adjust those dollar amounts as life changes around me.

 

The key here is just get started investing, that is the way building wealth is absolutely SILLY easy. The quote read’s “The best time to start investing is usually ten years ago. The second best time is now.” It may require great motivation to achieve peak physical shape, but building a decent level of wealth is easy in today’s world. I’m not saying anybody can become Warren Buffett, but almost any median income earner in North America can build a comfortable level of wealth starting today.

2 Comments

  1. Aaron on August 28, 2018 at 6:25 am

    Earlier this year I set up my online banking to take out money every week and put it into our savings for investment account. It has been great for my wife and I

    • Beau Wilson on August 28, 2018 at 6:41 am

      You are a wise man! I’m a huge fan of anything that makes the good habit automatic, if only morning cardio could get on autopilot we could change the world! lol

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