The easiest and best way to build wealth is to automate your investment stream.
Meaning, you automatically have money withdrawn from your account and sent to your predetermined investments.
This same automation is already being done to you. Now, do it for yourself.
How is it being done to you? It’s being done to you by the IRS. They take money out of your check before you get paid.
Not only does the IRS take money automatically, but so does Futa & Suta.
By automatically sending money to your investments, you bypass letting the problems of life determine it for you.
Because problems will always be there messing up your flow.
It’s the same reason why when you start at a new company the HR Department automatically sets you up for a 401(k) – but with the safest investment choices.
The HR Department is setting you up for your future by automatically diverting money into your retirement account and you have to make a conscious effort to NOT invest.
Whether you have a 401(k) or you’re using a Fintech app, automating your investment contributions keeps you on track.
-Monk
The problem is we spend 12 – 20 years in school learning about every subject, except for money. Then we spend the rest of our lives trying to figure out how to make money or how to grow the money we have.
My approach to financial literacy is to teach it in a way that makes the complexities of finance so simple that your investing actions become instinctive.
To the youth, young adults, and the mothers who raise them,
Financial Literacy: Monk Says… Learn the Game