It is important to think of wealth at an early age to use compound interest.
I built up my wealth through regularly gearing into a Australian share fund, then took that money and then used it for a margin loan then regularly geared through 2005 to 2009. Then used all the proceeds for a deposit on my inner city home.
I think there are three ways of creating wealth, margin lending, superannuation and residential property.
I personally think that the ASX will down for a long while, maybe 3 to 5 years, whilst the problems in Europe are ocurring. I plan to use self-funding instalment warrants, in my SMSF, til the market conditions improve.
BTW, the previous poster was incorrect, you are able to access the money at 55yo, no matter what year you are born, if you use a Transition to Retirement Pension.
