{"id":43040,"date":"2025-09-04T12:14:16","date_gmt":"2025-09-04T12:14:16","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/43040\/"},"modified":"2025-09-04T12:14:16","modified_gmt":"2025-09-04T12:14:16","slug":"here-are-my-top-5-tips-for-building-wealth","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/43040\/","title":{"rendered":"Here Are My Top 5 Tips for Building Wealth"},"content":{"rendered":"\n

There\u2019s no shortage of flashy \u201cget rich quick\u201d advice online, but real wealth<\/a> is built slowly, with smart decisions and long-term strategy. Garrett Z. Sutton, a Rich Dad Advisor and founder of the Tenero<\/a> financial education YouTube channel, has spent over two decades helping Americans grow their wealth the right way.<\/p>\n

Find Out: Suze Orman\u2019s Top Tip for Building Wealth Is a \u2018Very Easy One\u2019<\/a><\/strong><\/p>\n

Read Next: 10 Unreliable SUVs To Stay Away From Buying<\/a><\/strong><\/p>\n

\u201cAs Rich Dad\u2019s 25-year legal architect of asset protection and trusted advisor to Robert Kiyosaki since 2001, I\u2019ve been fortunate to speak on stage around the world to small businesses, entrepreneurs, real estate investors and investors about financial education topics,\u201d he said.<\/p>\n

Here, Sutton shared with GOBankingRates some of the best tried-and-true wealth-building tips he has given over the years<\/a>.<\/p>\n

Spending money beyond essentials comes at a cost. The difference between your earnings and expenses is your opportunity money \u2014 the funds you can use to save, invest and buy productive assets. If you can rein in spending<\/a>, you can reign over an improved financial future.<\/p>\n

Learn More: 4 Secrets of the Truly Wealthy, According To Dave Ramsey<\/a><\/strong><\/p>\n

Understanding how credit scores affect your financial future<\/a> is paramount. Interest rates, loan and leasing approvals, and more are tied to your credit score, which is a reflection of your financial responsibility.<\/p>\n

Paying bills on time and keeping credit balances low leads to a higher score, which leads to lower interest rates and thus lower costs.<\/p>\n

Banks don\u2019t care if you got an A in Algebra. They want to see an A on your credit score.<\/p>\n

Compound interest is earning interest upon interest. A savings account pays interest on your money. That interest, left in the account, also earns interest in the future. Over time, this little strategy can lead to large, compounded savings. Albert Einstein called compound interest \u201cthe eighth wonder of the world.\u201d<\/p>\n

Taxes are almost everyone\u2019s largest expense, but the tax code is full of incentives \u2014 open to every taxpayer \u2014 to do things that the government needs help with, like providing rental housing.<\/p>\n

At the start, you should understand the basics of taxation, like the deductions and credits you can legally take to lower your taxes. As you progress, be attentive and aware of the significant incentives the tax code offers to all investors.<\/p>\n

Many of us want to own our own home, car, boat, dirt bike and other assets \u2014 but none of those put money in your pocket. Instead, there is a cost to their ownership, including taxes, gas and maintenance.<\/p>\n

At the other end of ownership are income-producing assets<\/a>, such as stocks that pay dividends and rental properties that generate income. These are assets that you want to accumulate along the way because someday, you are going to retire. Your income-producing assets will keep working even though you don\u2019t.<\/p>\n

More From GOBankingRates<\/strong><\/p>\n

This article originally appeared on GOBankingRates.com<\/a>: I\u2019m a Rich Dad Advisor: Here Are My Top 5 Tips for Building Wealth<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"There\u2019s no shortage of flashy \u201cget rich quick\u201d advice online, but real wealth is built slowly, with smart…\n","protected":false},"author":2,"featured_media":43041,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177],"tags":[20900,79,32533,32531,18,4476,19,5389,17,234,235,32532,32534],"class_list":{"0":"post-43040","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-building-wealth","9":"tag-business","10":"tag-compound-interest","11":"tag-credit-score","12":"tag-eire","13":"tag-financial-future","14":"tag-ie","15":"tag-interest-rates","16":"tag-ireland","17":"tag-personal-finance","18":"tag-personalfinance","19":"tag-spending-money","20":"tag-top-tip"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/43040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=43040"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/43040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/43041"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=43040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=43040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=43040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}