“The road to wealth lies in augmenting our means or diminishing our wants either will do, but the quickest way to wealth is to do both at the same time.” Benjamin Franklin 

Or in today's language “When your out go exceeds your income then your upkeep will be your down fall.” Most people feel they need more money than they really do and settle for a lot less. 

To be truly wealthy you need to follow a few simple universal money principles.

We call these Prosperity Principles. 

1.   Determine where you are today financially, and where you want to be tomorrow.

2.   Have enough money in a short-term bank account to support your basic needs for three to six months.

3.   Invest 10% for your long-term goals.

4.   Give 10% to your favorite charity.

5.   Talk with a competent insurance professional (CLU, ChFC) and properly insure your greatest assets i.e. your   Life, Income, House etc.….

6.   Get sound financial advice from someone you trust (CFP) and will put your interest ahead of his or her fees.

7.   Use long-term investments for long term goals and short-term investments for short-term goals.

8.   Don't lose your money. Don’t invest in get rich quick schemes. Ask questions, become educated. If it sounds to good to be true it probably is.

9.   Avoid debt. Wealthy people earn interest they don’t pay it.

10. Keep taxes to a minimum.

11. Use wills, living trusts and other Estate Planning techniques to properly transfer your assets upon death.

12. Don't lose your retirement nest egg.

13. Don't waste money on high fees or commissions.

14. Don't buy life insurance as an investment.

15. Reduce your risks to your portfolio as you age.

16. Make certain that your retirement income will last a lifetime and keep up with inflation and taxes.

17. Enjoy the journey!