Ana Fajardo Explains the Best Way to Build Wealth with Limited Funds

0
55

As inflation takes a bite out of many individuals’ income, it’s not surprising that some are wondering how to save for retirement while staying abreast of current bills. However, as Ana Fajardo from Wealth Companies points out, a person does not need hundreds of thousands of dollars to build wealth. Even those with limited means can set aside funds for retirement and/or future investments.

Ana Fajardo strongly encourages those who want to build wealth to pay attention to personal development and ongoing learning. She notes that many people who want to earn extra money take on a second or even third job and there is certainly nothing wrong with this option; however, it can be more effective to learn new skills that can enable one to find a job with a better salary and/or develop a side gig to earn passive income. Fajardo notes that there are many ways in which a person who has an aptitude in a certain field can grow their skillset, including MOOCS (massive open online courses), library books, community college courses, or even by working with a friend or relative who has the skills one wants to learn. Networking with those who can help a person break into new fields is also a wise course of action, Fajardo notes. Connecting with people on social media, attending industry-related events, or even volunteering can open doors of opportunity for a person to get to know the local community better, find out what people need, and learn how to meet these needs in an effective, profitable manner.

Ana Fajardo also encourages anyone who has a full-time job to look into the possibility of employer matching for a 401(K) account. Many people fail to use this revenue generation option because they allot all their income to current expenses without setting anything aside for the future. However, some employers will match up to 100% of one’s retirement account contributions. Fajardo advises even those who have limited funds to contribute at least the minimum amount to their account at the end of the year and work towards contributing the maximum amount allowed. While this money cannot be touched until one retires, it can be invested in stocks, bonds, and annuities to grow retirement income for future use. Naturally, one will want to wait until he or she has a substantial amount of money in the retirement account and work with a professional wealth-building team to pick the best investment options; however, investing 401(K) retirement funds is an ideal way for anyone with limited finances to generate wealth long-term.

Ana Fajardo has decades of experience working with clients of all ages and walks of life. She knows from first-hand experience that just about anyone can build wealth if they are willing to work hard, invest wisely, and get expert advice when warranted. It will take a long time and there will likely be sacrifices to be made along the way, but the end result is more than worth the investment of time, money, and hard work.

LEAVE A REPLY

Please enter your comment!
Please enter your name here