The April 2017 issue of Kiplinger’s Personal Finance magazine recently arrived. It is a special one indeed: celebrating the 70th anniversary of a venerable publication. To commemorate this occasion, the lead article is 70 Ways to Build Wealth. Definitely a worthwhile read for the Frugal and Wise. (Check for the issue at your local library.)
I am pleased to note that, of the 70 actions listed in the magazine, I have, to date, mentioned at least 19 of them on Frugal, Wealthy and Wise. Refer back to Twenty-five to Thrive, 31 Essential, Frugal and Wise Actions and Take These Five Actions Before Year-End.
I certainly cannot claim such ideas as original but neither did I merely copy them from other sources. Any number of fundamental, financial actions can lead to building wealth and living better on less. But there is the satisfaction in knowing what I mention on Frugal, Wealthy and Wise is also being espoused by such a prominent source as Kiplinger’s.
I have been reading Kiplinger’s Personal Finance for at least two decades. It has been influential in my journey towards being a savvy consumer, a shrewd manager of family finances and a builder of wealth. (Kiplinger’s Personal Finance and The Economist are the only two magazines I read.) The introductory rate for a year’s subscription is $15 or less – worth checking out; see if it earns its keep for you.
Words from the Chief
The 70 Ways to Build Wealth article contains 10 saying from Knight Kiplinger, Editor in Chief (page 28). These sayings are comparable to words of wisdom from Warren Buffet, Jack Bogel – or even King Solomon in Proverbs. 1) Wealth creation isn’t a matter of what you earn. It’s how much you save. 2) Your biggest barrier to becoming rich is living like you’re rich before you are. 3) Pay yourself first. 4) No one ever got into trouble by borrowing too little. 5) Conspicuous consumption will make you inconspicuously poor. 6) The key to stock market success isn’t your timing in the market. It’s your time in the market – the longer the better. 7) Diversify, because every asset has its day in the sun – and its day in the doghouse. 8) Keep a cool head when others are losing theirs. 9) Money can’t buy happiness but it can make unhappiness easier to bear. 10) Sharing your wealth with others is more fun than spending it on yourself.
Cheers, Paul
© 2017 Paul J Reimold