Not sure where to begin? Start with Baby steps. Here are a few Basic Principals to building Wealth.

1. Start budgeting: Setting up a budget and tracking your spending is essential for building wealth. This will help you to identify areas where you can cut back and save more money.

2. Live below your means: You don't need to compare yourself to others or live an extravagant lifestyle. Live within your means and be content with what you have.

3. Invest in yourself: Investing in yourself by learning new skills or taking courses will help you increase your earning potential. This will in turn help you to build your wealth.

4. Start investing: Investing in stocks, bonds, mutual funds, and other financial instruments can help you make money and grow your wealth.

5. Automate your savings: Set up an automatic transfer from your checking to your savings account each month. This will help you save more money without having to think about it.

6. Live debt-free: Pay off any existing debt and strive to stay debt-free. This will help you avoid interest payments and make it easier to save and invest.

7. Start a side hustle: Consider starting a side hustle to increase your income. This could include freelance work or starting a small business.

8. Choose the right financial advisor: Getting the right financial advice is essential for building wealth. Make sure to do your research and choose a financial advisor who is experienced and has your best interests in mind.

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Understanding the "step up" in basis when inheriting certain assets

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Meet Gerald Hendrik - President and Founder of Rockwall Wealth Advisors