There is no shortage of people telling you about fancy schemes to get rich. But, here’s the truth about investing: the harder you try, the less money you will end up with.

Should you buy life insurance? Yes, by all means if you have anyone that depends on your income or work, you should buy TERM life insurance. That way if anything happens to you, your family will be financially okay. Whole life and universal life insurance is sold as an investment, but you should never buy either of these. They are expensive and a terrible investment.

What’s the matter with savings accounts? Nothing, we love savings accounts for emergency funds or putting money aside that you plan to use in the coming years! But it’s never going to make you rich the way the stock market can over long periods of time.

Buying big homes and fancy cars seems amazing. But that’s not how you increase your wealth. Those are things you can consider doing once you have wealth and can easily justify buying them.

We have likely all done at least one or two items on the left side of the list. BUT that’s okay. Focus on the future and what is in your control. Keep your investing life simple. Buy low cost index funds and don’t sell until you retire.

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.‎

-Vivi & Shane