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  • Working pays the bills, but it doesn’t build wealth, only investing builds wealth.

    When it comes to investing, there are five essential rules:

    1. Contribute regularly.
    2. Invest in growth assets for the long term, like shares or property.
    3. Reinvest all earnings, where possible.
    4. Never take it out. I don’t sell any of my long-term shares; I live off the dividends.
    5. Only invest in things you understand. I avoid get rich quick schemes, managed funds and structured products.

    Speaker: Ashley Ormond
    Source: http://www.superliving.com.au/StoryView.asp?Sto...
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    Posted: 12 Oct 2008 at 5:43 PM
    Posted By: fredmartin
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    Tags: wealth