Benjamin Alderson is a Senior Area Manager for deVere Group, an international financial products consultancy group. Benjamin Alderson advises international investors about financial products that will fulfill their long-term investment goals in planning for their retirement.
Those who have amassed large sums of money often demonstrate similar spending habits to increase their ability to save; this habit translates into fatter retirement funds that make the transition into retirement more successful. Successful savers follow the same practices:
1. Be frugal in everyday expenses. Take your lunch to work and eat lower cost supper meals.
2. Invest in the stock market and leave the money there. Do not sell stocks in the hopes of finding a
better return on investment, instead ride the market for decades.
3. Don’t buy the newest and best. If you can make a television last, don’t buy a bigger screen or a newer model just because it’s a hot trend. Make a purchase into an investment, not a disposable object. Purchases over $500 should last at least ten years.
4. Hire a trusted financial consultant to manage your funds. Give them the opportunity to increase your wealth while you continue to save.