In the October issue of Money Magazine, one of the cover stories was 47 ways to get on track to a rich life in 35 minutes or less. Of the six plans they offered,the best one is "Building Lifetime Wealth" in 35 years.

1. Own stocks. Since 1925, the S&P 500 has gained 10.2% a year. In the short run, stocks are riskier than bonds and cash but you have 35 years.

2. Pay Less. The 1.5% annual fee you are paying on your mutual fund may seem small but over 35 years, this can take a big bite out of your account balance. If you have a $10,000 balance, the difference between a 1.5% fee and a .2% fee is over $50k over 35 years.

3. Start Young. The effect of compounding interest over 35 years is unbelievable.

4. Diversify. Owning a mix of stock, bonds and other assets will help minimize your exposure to losses.

5. Buy a House. You can deduct the interest you pay and it is like writing a check to yourself rather than to the landlord. I'm not sure I necessarily agree with this one as some people do not want to be homeowners. If you have a balanced portfolio, you can still come out okay in the end.

6. Get and Stay Married. D-I-V-O-R-C-E can reduce your assets by half. I definitely do NOT agree with this one as not everyone WANTS or NEEDS to be married. There are alot of single people that can build wealth alone.