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Wednesday, December 27, 2006

Baby Step 7 - Build Wealth and give!

This is the best baby step of all. Invest in mutual funds (only invest in those mutual funds with a proven track record of 10 years or more) and also in real estate if you wish. Dave recommends that you always buy real estate in cash (Yes, cash, no mortgage. If you just paid off your house, why would you want to go back in debt with another piece of real estate that you just bought?).

The next portion is to give. Give to charities, and increase your tithe to beyond 10% at your local church. Remember that this is not all about money, but also about people. It is better to give than receive states the proverbs.

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