The truth is, if you want to become wealthy, you need a lot of things to go right. Often, there are things that can happen outside of your control that will determine how much you earn, what you are able to save, etc. So the key to building wealth is to focus on what you can control, and prepare for potential risks.
And in the quest to grow your wealth, the two things you have the most control over are what you do with your savings and what you spend your money on.
Early in one’s career, it is important to maximize your savings. That means spending only what you need to spend, and being smart about how you invest the rest. This article breaks down how your initial savings rate and subsequent returns on investment will help you grow your wealth in the long term.