How Poverty Can Teach You To Become Rich

Posted On March 6, 2018 2:37 pm

In the past I’ve explained how the proper mindset is key to achieving long-term success. Specifically that means having the discipline to stick to a sound, time tested, long-term strategy. Well during one of my recent readings, (I spend 3 hours per day reading on a wide variety of subjects), I came across an article that made a strong argument for investing any bonuses you receive.

That certainly makes intuitive sense, since any unexpected windfall is something that, by definition, you can’t have budgeted for. That means that you don’t need it to pay bills and can, and should, invest it. This transforms an unexpected bit of luck into permanent, and exponentially growing wealth. And if you invest it in a diversified, high-yield retirement portfolio? Then it also becomes a reliable stream of passive income from which you can draw on later.

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Dividend Sensei
Dividend Sensei

I'm an Army veteran and former energy dividend writer for The Motley Fool. I currently write for both Seeking Alpha, Simply Safe Dividends, and DividendSensei.com My goal is to help all people learn how to harness the awesome power of dividend growth investing to achieve their financial dreams, and enrich their lives. With 22 years of investing experience, I've learned what works and more importantly, what doesn't, when it comes to building long-term wealth and income streams. I'm currently on an epic quest to build a broadly diversified, high-quality, high-yield dividend growth portfolio that: 1. Pays a 5% yield 2. Offers 7% annual dividend growth 3. Pays dividends AT LEAST on a weekly, but preferably, daily basis