From the course: Build Sustainable Wealth and Get Out of Debt

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Setting up your savings to make money for you

Setting up your savings to make money for you

From the course: Build Sustainable Wealth and Get Out of Debt

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Setting up your savings to make money for you

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- There are two reasons you want to save. One, to bring a return on your money and two, to build equity or liquidity. You want to have a portion of your money bringing you a return and working for you. Over time, more and more of your money can produce an income for you, so that you don't have to work as hard to produce an income for yourself. This can free up your time to do more of the things you want to do, providing you greater financial freedom. Since you're not ready for that kind of risk yet, you don't want to do that. Skipping ahead and missing steps will not put you on a solid foundation for building wealth. There are two reasons you want to save. One, to bring a return on your money and two, to build equity or liquidity. You want to have a portion of your money bringing you a return and working for you. Over time, more and more of your money can produce an income for you so that you don't have to work as…

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