Part 4/8:

While cutting costs is vital, building wealth through smarter investments is equally important. Many set resolutions to increase their investment contributions. Personal finance experts suggest that if someone is currently investing around 10% of their net worth, a reasonable goal might be to boost this to 20%.

Achieving this involves:

• Reassessing portfolio allocations: Transitioning from cash and T-bills to bonds and other investment avenues like REITs can diversify risk and potentially increase returns.

• Applying SMART goals: Ensuring investment targets are Specific, Measurable, Achievable, Relevant, and Time-bound helps maintain focus and prevent overambition.