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How can you stretch your dollar? Financial planners are filled with tips on how to keep money for a lifetime. It's not easy but it's doable if we don’t ignore that factor. Veuer’s Maria Mercedes Galuppo has the story.

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00:00How can you stretch your dollar? Financial planners are filled with tips on how to keep
00:05money for a lifetime. It's not easy, but it's doable if we don't ignore that factor. Let's face
00:11it, head on. Credit Karma speaks about the great benefits of creating a budget and tracking your
00:16spending. The suggestion is to use the 50-30-20 rule. 50% of your income for essentials like rent
00:23and food, 30% of your income for extras like entertainment, and 20% of your income for savings
00:29and debt. Insider encourages us to look for ways to earn more if we're looking to build more wealth.
00:36The site says we must recognize the necessity of saving money and investing. The question is how?
00:42Focus less on frugality and more on investments. Only saving money is not enough. You'll miss out
00:49on opportunities to create assets that increase in value over time. That's why you need an investment
00:55strategy. Specifically, look for long-term time horizons, risk-adjusted strategies, and investments
01:02in globally diversified portfolios. Once you've fine-tuned the strategy, stick to it. Instead
01:08of constantly hopping from one thing to another, in search for the best strategy ever.

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