Evenly, the recession is effecting even the super rich.

The Wall Street Journal’s blog has a nice write up of why the numbers of super rich are declining.

For what its worth, one way to get serious about building wealth is to model ones behavior after the patterns of people who do have money. One thing they tend to do is look for money making opportunities. It’s a great habit to get into, and we as DINKS try to do it often. Keeping an eye on the investment and spending trends of the wealthy is an important part of this.

Best,

James

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

Couples Finance

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