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AACREDITUNION.ORG | 11 risk tolerance? Which sacrifices are you willing to make to earn more or save more? When you know yourself, you can make better and more realistic choices about how to build wealth. Learn about personal finance. You don't need an MBA. But learning more about basics such as how compound interest grows savings and why investing in low-cost index mutual funds is wiser than trying to pick individual stocks. Increase earning power. It's hard to build wealth without adequate income. Consider getting more education, seeking promotions or taking a second job to increase your earning power. And make the money you accumulate earn more by maximiz- ing interest and appreciation on savings and investments. Build an emergency fund. Before investing for retirement or other goals, save for a rainy day. Build an emergency fund with enough to cover at least three to six months' worth of essential expenses. Keep it in a safe place such as a savings account. Make saving automatic. Participate in company retirement plans that withhold savings contributions out of your pay- American Airlines Federal Credit Union From share savings certificates to access to financial advisors, the Credit Union has a suite of products and services to help you build savings. For more information, visit AACreditUnion.org or call (800) 533-0035. check. Set up automatic transfers from check- ing to savings every month. Plan the amount, set it and forget about it as you start to stack funds. Protect with insurance. The financial hit from an uninsured illness, accident or natural disaster can have an adverse impact. Make sure you have adequate health, homeowners and automobile insurance to pro- tect your wealth. "Live modestly, invest boringly, for the long term." Borrow wisely. Not all debt is bad. Purchasing a home or auto- mobile and paying for college usually require borrowing. Taking vacations, dining out and making luxury purchases should not. Avoid nonessential debt. Especially avoid carrying a balance from one month to the next on high- interest credit cards. Still not sure of your next move? If you want to boil the rules of wealth down to just one, Harold Pollock, co-author of The Index Card: Why Personal Finance Doesn't Have to Be Complicated, suggests, "Live modestly, invest boringly, for the long term."