How to be rich before fifty-five years old is a dream among lots of young people because we do not want to wait to retire at sixty-five years old or older. We will not have energy to enjoy the rest of lives. To reach this dream, we need to draw up a financial plan to support our dreams and make sure not to let our dreams become a castle in the air.

The first step is not to keep all your money in the bank. It is necessary to have a deposit in the bank to maintain your daily and urgent expenses. However, if you keep all your saving in the bank, you will find that your wealth is still poor because the interest the bank give is too small and the rate of inflation is higher. In order to reach a higher return earning, you should change your way of saving money. The next step is investing part of your money in a stock market. A stock market provides high profit and low investment risk if you do a long-term investment. The average earning in a stock market is about fifteen percent. Of course, when you invest in a stock market, you should learn and understand how is the market going. The third step is being patient with your savings and investments. As the formula of compound interest proves the power of long-term investment, we should continue our saving and investment until we reach our goal. Assume you can save five hundred dollars every month for twenty years and your investment gives you a fifteen-percent of returned earnings. After twenty-years, your wealth will be about seventy-five thousand dollars. The next step is you should start your financial plan when your are young, if you want to retire as early as possible. Another reason to manage your finances is that inflation will up the cost. The fifth step is using your money to buy your own house. After you accumulate your wealth, you should buy your own place. We know the inflation will push the prices higher, and the price of your house wills also increases. So when you are old, you can sell your house in order to have enough money for your retirement years. The final step is to "take action now". Many people know the necessities of saving money, but they always have various excuses to avoid doing so because they may need to sacrifice their material life. But without saving, you will not be able to reach your dream.