Achieving financial stability is a goal for most people. While earning a steady income is important, building wealth requires investing money in assets that grow over time. Making strategic investments and developing multiple income streams allows you to build a strong financial foundation. 

Start early and invest regularly   

Compounding growth helps investments increase exponentially over long periods. Even small, consistent investments in your early years snowball into significant savings. Starting early allows more time for your money to work through the power of compounding. Invest regularly each month or quarter, even if initial amounts seem trivial. Don’t wait for extra cash before investing. Consistent discipline leads to asset accumulation. Automate investments so they happen seamlessly every month.

Carrying high-interest credit card or loan balances hinders investing abilities. These expensive debts undermine compound growth from investments. Fisher Capital Group advisors first focus on paying off high percent debts before strategic investing. List all outstanding debts by interest rate. Create a plan to systematically pay off debts with the highest interest first through disciplined monthly payments above minimums. Eliminating high-rate debts frees up more capital to invest at higher returns than the interest owed.  

build an emergency savings fund

Having 3-6 months of living expenses set aside provides a buffer for unexpected events like illnesses or job losses. With adequate emergency savings, you avoid tapping long-term investments or accruing credit card debt during incidents causing income disruptions. This protects wealth-building investment capital. Use automatic payroll deductions when possible to systematically build emergency funds. Place the money in secure, liquid accounts like online high-yield savings to earn interest income while keeping the savings accessible. Maintain contributions until reaching target threshold amounts.

Tax-advantaged retirement accounts like 401Ks and IRAs help investments grow faster by minimizing tax erosion on realized gains. This enables full compounding on returns. fisher capital beverly hills guides clients to maximize annual contributions to these tax-preferred vehicles. Contribute at least enough to any available company 401K match. Fully fund an annual IRA immediately thereafter. Finally, boost 401K contributions to company plan limits. Automate contributions to make this seamless. Tax reduction on gains provides significant long-term benefits.  

Invest in equity index funds

Trying to select individual stocks that outperform is challenging even for professionals. Fisher Capital Group utilizes equity index funds as core portfolio holdings for long-run appreciation tied to overall stock market gains.

Index funds provide diversified exposure to entire segments of the market at low management costs. Find broad-based index funds tracking the S&P 500 and total stock market to anchor your portfolio with steady equity growth over decades. Reinvest all dividend distributions for further compounding.     

Consider adding small cap and international funds

While mainstream index funds should form your portfolio foundation, adding selected actively managed funds boosts diversification and returns. Fisher Capital Group complements core holdings with actively managed small-cap and international funds attempting to beat benchmarks. Do your homework researching fund managers with consistent long-term track records outpacing respective categories? Great resources for analysis include This modest introduction of select actively managed funds affords further growth potential for your investments.