Although this is the first time in 13 years that Bill Gates in not No. 1, no, I don’t have any real secrets on how to become the next Warren Buffet (No. 1-$62 Billion), Carlos Slim Helu (No. 2 -$60 Billion), or Bill Gates (No. 3 -$58 Billion). But the numbers themselves and the fact that they have changed over the last year do indicate something significant, yet simple in nature. While Bill Gates’ net worth only increased a modest 3.5% over the last year, that amount was $2 billion dollars!
The faster and earlier in your life you invest your money and have it work for you the sooner even an average or below average return on your investment (3.5%- about what ING Direct is paying right now) represents a significant amount of money, or, as in the case of Bill Gates, $2 billion dollars. Now, it is unlikely that you or I will ever amass enough wealth to generate that kind of money from a 3.5% return, but the more money you can sock away, as quickly as you can, the faster you will build wealth. And if you happen to have a pretty good year, like Warren Buffet, gaining $10 billion dollars or 19% over the last year, keep in mind that the total amount you will make on that investment in any given year is based on the amount you have invested. If your debt keeps you from investing for your retirement and future, you need to eliminate it as soon as possible and begin building wealth.
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