A man I knew had an MBA from Harvard and an engineering degree from MIT. Smart guy. When he retired, he started doing what he liked best: teaching college courses in economics and business planning. But when he taught economics, he also taught personal economics. This is the philosophy that he started his classes with: Decide how you want to live now, versus how long you want to work.

This means that if you spend everything you make now, you’ll have no choice but to work longer and harder. But if you start investing in your financial future now, you’ll have many choices. You can retire early, travel more, continue your career or start a new career later in life. Once again, it all comes down to choices. Think tomorrow today… and live better tomorrow.

Here’s the next thing to think of when you’re planning your future of wealth: Be careful with your credit cards. Selling money is big business. You probably get invitations in the mail to sign up for a new credit card a couple of times a month! Having some credit cards is important. Especially if you travel. They’re safer and easier to track than cash.

But be careful; credit is the easiest way to get into debt. When you buy something with a little piece of plastic, you don’t feel the effect until you get the bill. So make sure that whatever you buy, you’re still happy with your purchase after you get the bill.

Make sure that whatever you buy, you’re still happy with your purchase after you get the bill.

Here’s another point to remember in becoming financially independent: It’s hard to get rich quickly. It’s easy to get rich slowly. It doesn’t happen overnight. With conservative investments, it takes a while. It takes discipline to keep adding value to your future, a little every month. It takes time to build your fortune and become wealthy.

By Jim Rohn, courtesy Success Magazine