New Delhi, Aug. 1 -- You should have a long-term, constructive investment plan to build wealth for your later years or retirement. To accomplish this successfully, it is vital to acknowledge and understand the role of consistency, devotion and compounding in your investment journey.

These are the core fundamentals that eventually help an individual build meaningful wealth over the years. Albert Einstein once said, "Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it." Thus, highlight the importance of a clear understanding of compounding and wealth management.

Furthermore, building wealth does not always require an individual to invest thousands or lakhs of rupees every mon...