143: Wealth Isn't About Spending Less, It's About Investing

Learn why wealth building requires investing, that frugality is not what is going to make you rich and the steps to move forward.

In financial articles, I often hear people say the secret to being financially successful is "spend less than you earn."

Spending less than you earn will obviously keep you out of debt, but it won't make you rich.

People miss the point. Spending less and earning more are not the crucial parts of wealth building. (This is what drives me crazy about the frugality movement).

Its really all about investing.

Remember the "6 Steps to Wealth" and step 4 is investing in a money engine and step 5 is compounding at a high rate? Those are the crucial steps to wealth building!

So the question becomes, how are you investing? What are you investing in? Why are you investing in those things? Have you consciously thought, "where is the best place to invest now?" meaning "where is the place that is going to grow my money best or at the highest rate?"

Because THAT is how wealthy people think.

Then they look for those opportunities, opportunities to compound at the highest rate possible without taking foolish, undue risk.

It's not about gambling. Or buying a lotto ticket. Those are things that leave winning to chance.

It's about controlling what you invest in as much as possible to build more wealth. Obviously you don't "control" a stock, but you do control choosing a stock or the company you're investing in.

That's why people join the VIP Experience, because they want to know where I think the best place to invest is.

www.lindapjones.com/joinvip

Action steps included.