It goes without saying that becoming rich is one of the most important goals of our lives. Why wouldn't it be. After all, what better achievement for a human being than to be able to improve his standard of living by a few notches?
But the fact remains that not many of us reach this milestone. We get sucked into a vicious circle of living from paycheck to paycheck. Never quite earning enough to be able to buy some of the luxuries that the world around us has to offer.
If you too have got sucked into this circle and are finding no way of coming out, we have a small suggestion for you. Try changing your attitude towards savings and it may make a world of a difference few years down the line. Yes, you've heard it right.
Most of us do not set aside any money at all because we believe it is too small to make any meaningful difference. But that's a completely wrong attitude to have. You see, as humans we are quite innumerate. Our math skills absolutely pale in comparison to say our communication skills.
As a result of this, we fail to appreciate the enormous power of sustained compound growth. Thus, even if we save a very small portion of our income on a regular basis, the total accumulated wealth over a long term period can be enormous.
Please bear in mind that the important thing is not how much you save. But what matters is whether you save anything at all. So, if you haven't done it already, we suggest you start doing it right away. As soon as you get your income, save a small part of it and then focus on living off the balance amount.
I assure you that if invested wisely, there is hardly anything that can stop you from becoming rich few years down the line. Do remember that this is the first and foremost step in becoming a successful investor.
Everything else like picking attractive stocks and bonds only come later.