This post is meant for everyone. I mean even though you’re planning to be in the corporate world or in a business for another 10-30 years, you cannot ignore the importance of preserving and growing your wealth.
It usually takes anywhere from 5 to 30 years to build a good chunk of savings and investments which will be sufficient for retiring comfortably. We need to be mindful of our actions that create or slowly erode our wealth.
I’m more concerned with the habits or actions that erode our wealth. These might not seem big but can significantly reduce our wealth over the years. Imagine a large water tank with tiny holes, you know what will happen to it eventually.
Let’s discuss the Top Five Money Leaks for now to keep it short and focused. I’ll discuss these briefly and will get into the details of each one later. I know my friends in the Insurance and Investment industry won’t like it but the Truth must be told. 🙂
So here are the Top Five: