Becoming Rich Is Not About Luck

Many people believe that wealth comes to the lucky ones; perhaps from inheritances or the lottery. Most of the time this is not the case.

Ric Edelman in his book Ordinary People, Extraordinary Wealth, studied over 5,000 wealthy people and discovered that most of their wealth came from small amounts of money invested over time. Here are some interesting facts from the book regarding those who became wealthy:

• They began investing at an early age. The average age when they began investing was 24. 10% of them started before they were 18.
• They invested small amounts. Their first investment averaged $658, while some started with anywhere from $100 to $499.
• 92% saved regularly throughout there lives.
• 81% put money aside into a special account. They'd save a few hundred and then invest it.
• Nothing stopped them from saving. Despite difficult events in their lives, only 4% stopped saving.

So if you think you need to hit Power ball, think again. Time is on your side. It doesn't matter if your in your twenties or eighties. Start saving today.