Want to build wealth?

Here are five key things you can do to build wealth:

• Automate your savings:

Make sure you’re contributing to your retirement account automatically. Link your bank account to your IRA account and set up regularly scheduled transfers. An added benefit to auto-saving plans is that you get to think less about your retirement account.

• Revisit your savings once a year:

It’s important to check on your account regularly. Thanks to the market’s gains and losses, your original asset allocation will shift, and eventually get out of whack.

• Develop good spending habits and saving strategies:

 Determine what you can cut back on and what you can’t live without. Then, make a budget and stick to it.

• Pay off high-interest debts first:

This will reduce interest rates overall.

• Max out your retirement savings:

If you’re not already maxing out your retirement savings, consider doing so.

These are just a few easy ways to protect your money and build wealth over the long term. For more information on building wealth, check out these resources:

• NerdWallet
• Investopedia
• GOBankingRates
• Forbes Advisor