Wealth- How to Accumulate and How to Preserve It

The elderly were anxious about the economy long before this crisis. Retired feeling very confident of a secure retirement Financial fell 29% in April compared with 41% a year earlier, according to a survey by the Employee Benefit Research Institute - the lowest level in 10 years. Young people seeking to increase its revenue with better jobs are limited by the increasingly acrimonious labor market. Therefore, how to get and keep a wealth? Follow these tips:

1. Keep your mind on your money and your money in your account, will not be obsessed about the losses or gains, but now it's time to focus on getting each share of the interest or capital gains they can. Consideration of cash and all the CDs and continue to seek a higher interest rate offers.
2. If you own rental properties, lock in high rates of rent with a lease. If not, do not forget to raise the rent every year at least in the Consumer Price Index inflation rate.
3. If you own stocks or stock mutual funds, do not go crazy to change things. Maintain a diversified portfolio of different types Large-Cap, a mid-cap, small cap, international, etc. also maintain a diversified portfolio of different styles of growth, value, mixing, basic, etc.
4. Watch your tax bite. It's not what you earn, but what we maintain. Take all the deductions that can be legally. Get a leg in any distribution of capital gains before the end of the year so that there will be no surprises prosecutors. Call or e-mail from your mutual fund distributor to find out what capital gains distributions of dividends that are paid taxes. I'm expecting a lot of people who are in for a surprise big losses on their tax returns and great responsibility for the end of the year. Be forewarned!
5. I do not think it can never sit in and be fine. You do not. That is a guarantee of loss. Inflation eats away your investment and employment and incomes rising costs.
6. Very few people get rich working. You have to make your money work for you. That means having investments such as stocks, bonds, mutual funds, real estate, etc. With the investment that means risk. With risk comes reward. Figure at least once and most likely you will end up losing money. So what? Pain, but a necessary part of enriching themselves and stay there.
7. Do not let greed overcome good sense. If it is too good to be true, it is. Most people get rich quick, slow and not develop good habits that will preserve their wealth, too. As your net worth grows and to commit to more investment, not let anyone talk him into putting the whole wad in a company. It is much easier than a small bounce back from a big loss.

Remember that you have to invest to stay ahead of taxes and inflation to motivate and grow rich through diversification and acceptance of the losses along the way, to preserve the wealth they accumulate.