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How to Build Wealth

You don’t have to earn six figures to build wealth—you just need a plan! Money expert Jade Warshaw breaks down the four key things you need to do to build wealth that lasts. 💰 How to Build Wealth: 1. Have a budget. A budget is your roadmap to financial success. It helps you control where your money goes and ensures you're using it to build wealth. 2. Get out of debt (and stay out of debt). Debt holds you back. Focus on paying it off as quickly as possible and avoid borrowing so you can keep building wealth. 3. Live on less than you make. Spend less than you earn. This is key to freeing up money for savings and investing for your future. 4. Save for retirement—the right way. • Invest 15% of your household income. Aim to save 15% of your total household income for retirement. This is the sweet spot for long-term growth. • Do this after becoming debt-free and building your emergency fund. First things first—get out of debt and set up your fully funded emergency fund. Only after that, start focusing on retirement. • Choose good growth stock mutual funds. Pick solid growth stock mutual funds that fit your goals. Stick to the basics—don’t get distracted by the latest trends or get-rich-quick schemes. • Don’t try to time the market. The market will have its ups and downs. Stay steady, keep investing, and avoid trying to time the market. Consistency wins in the long run. 💵 Try EveryDollar for Free: https://www.ramseysolutions.com/ramse... 🧐 Learn More About Building Wealth at Any Age: https://www.ramseysolutions.com/retir... 📺 Watch Next: How to Set Up Personal Goals in EveryDollar 📲 Follow Jade Warshaw Instagram: @jadewarshaw TikTok: @jadewarshaw Facebook: @jadewarshawpersonality X: @jadewarshaw #EveryDollar #BudgetingTips #BuildingWealth #SaveForTheFuture