Halleluiah! Break out the tambourines and shake them. Break out the fireworks and make sure you don’t shake them. On the day dedicated to celebrating American exceptionalism, I wanted to point out one of the greatest truths that is necessary for building long-term wealth: You must be exceptional in one of three ways.
Way #1: You possess the ability to identify and purchase an exceptional company that is growing rapidly. It took $8,500 in 1992 to create over $1 million worth of Starbucks stock today. Once it became apparent that Wal-Mart was rolling out stores all across the Midwest in 1982, it would take $8,500 in Wal-Mart to create a $2.1 fortune in the retailer here in 2014. It took $50,000 eight years ago for Chipotle Mexican Grill stock to buy you a half-million dollar home today.
These investments are hard to come by, but the good news is this: … Read the rest of this article!