Earn, Save, Invest: 3 Rich Habits for Life

Ultimately, building wealth comes down to our habits

Earn, save, invest. If you want to get rich, those three things always need to be on your mind. In that order too.

On a recent call with JPMorgan clients, the CEO, Jamie Dimon, talked about the key to successful wealth building. He said:

”Investing should be a permanent thing. Save, invest. Save, invest. Guessing at market tops, market bottoms — that is a complete loser’s game. I’ve never seen anyone win at it. The smartest investor in the world, Warren Buffett, would say that is not the way to invest.”

It’s really not that complicated. You don’t even need to earn a lot of money to become wealthy if you have healthy financial habits.

It’s fruitless to chase low probability outcomes like guessing market tops and bottoms, trying to day-trade yourself to wealth, or going after a lot of money at once with a get-rich-quick scheme.

The habit of earning more

While I love Dimon’s one-two punch of save & invest, I also believe that increasing your earnings potential is a way to build wealth faster. While I don’t think it’s necessary to destroy your mental well-being by continuously chasing more money, I do think it’s natural…