If You Want to Break Out of the Middle Class, Avoid These Money Habits The ease of falling into these unproductive money traps is dangerously high.
By Phil Town •
Opinions expressed by Entrepreneur contributors are their own.
In this video, Entrepreneur Network partner Phil Town discusses how people in the middle class often have only $1,000 in savings and piles of debt.
So, if your goal is to break out of the middle class and retire comfortably, here are a few habits -- or "traps" -- you should avoid:
- Having no emergency funds.
- Not investing enough.
- Having no trust in the stock market (putting away money in a 401K is just the start)
- Not thinking long-term.
Town recommends only buying things when it is absolutely required. Invest everything else.
Click the video to hear more.
Related: The Biggest Risks (and Rewards) of Investing
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