Ac­cu­mu­la­tion

CityPress - - Business - How early you start sav­ing and what you spend your money on is a greater pre­dic­tor of wealth than your ed­u­ca­tion level, writes

Many pur­chasers of lux­ury cars spend a dis­pro­por­tion­ate amount of time re­search­ing (some­times for months at a time) a par­tic­u­lar ve­hi­cle be­fore buy­ing it. If they had spent even 25% of that time plan­ning their in­vest­ments, they could be much wealth­ier to­day.

Such buy­ers of­ten ar­gue that they got the ve­hi­cle at cost or even be­low cost, but when they talk about pay­ing as much for a car as you do for your house, they are still hugely out of pocket – de­spite the dis­count. It’s all a ques­tion of fo­cus. Leonard is a qual­i­fied fi­nan­cial plan­ner and re­gional head at Ci­tadel Wealth Man­age­ment

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