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Ask Dave

Building Wealth Early

Young people can build wealth early by looking at the Forbes 400 list and staying out of debt!

QUESTION: Larry asks Dave how he recommends a 25-year-old to build wealth. Dave goes to the Forbes 400 to prove his point about debt and wealth-building.

ANSWER: As far as I’m concerned, it would be the same way as the people on the Forbes 400 build wealth. The Forbes 400 is a list of the 400 wealthiest people in America. When surveyed, 75% of them say the most important thing to do is get out of debt and stay out. Your most powerful wealth building tool is your income. When all your income has other people’s names on it, you have no money muscle.