As a financial adviser, I’m often the bearer of bad news when people ask me for advice to get rich quick. The truth is, when it comes to building wealth, what works is having good money habits, being consistent and spending less than you earn.
I have three kids and when they’re old enough, I intend to teach them that it's never too early or late to start building wealth. No matter how old you are, there are always opportunities to make your money work harder for you.
Here are some money strategies and ideas you can look to implement in your 20s, 30s and 40s to build wealth and set yourself up for financial success.
But first, watch: Four money hacks that don't cut out your daily cup of coffee. Post continues below.
In your 20s: Build your financial foundation.
It may be tempting to spend your wages going out with friends but your 20s is a time to set up your financial foundation. You’ll most likely spend this decade of your life finishing your education, starting your career, travelling around the globe and finding your way in the "adult world".
From a wealth creation perspective, the number one thing you need to nail in this decade is learning how to manage your money on a month-to-month basis. This means is that you need to know your numbers - what comes, what goes out and what is left over each pay cycle (your surplus).