
13. Don’t Always Focus Excessively on Saving
‘Do not save to save, but to invest’ is the mantra you should abide by if you intend to boost your fortune in the long run. There’s no denying the significance of saving money. But it should not come in the way of your wealth creation efforts. If you focus excessively on putting away money, you’ll be fortifying your financial security, but may not be able to take advantage of investment opportunities.

For example, if you continue to deposit most of your earnings in your savings account, you’ll hardly have sufficient funds for investing in undertakings that could help boost income. However, if you don’t want to face risks that put money in ventures promising good returns, you can transfer your funds to a savings account with a high-interest rate. Alternatively, you can park your money in low-cost target-date MFs and ETFs and watch your returns gradually grow effortlessly.