I'm a financial planner - you should spend money on these things to get rich

A financial planner has revealed the three things you should always spend money on if you want to be rich.

David Edmisten is founder and lead advisor at Next Phase Financial Planning based in Prescott, Arizona.

The father-of-eight specializes in helping 'corporate professionals in their mid 50s and early 60s enter retirement with confidence.'

He recently sat down with GOBankingRates to discuss what people should do in order to guarantee their financial future.

David Edmisten, founder and lead advisor at Next Phase Financial Planning in Arizona, has revealed the three things you should always spend money on if you want to be rich

The first was to seek out a solid financial foundation and he suggested doing so by investing in stocks and bonds (stock image)

Edmisten issued three main tips for anyone hoping to ensure their wealth later on in life.

The first was to seek out a solid financial foundation and he suggested doing so by investing in stocks and bonds.

He argued that building an asset portfolio in this way is wise because stocks 'help increase wealth and outpace inflation over long periods of time' and bonds 'can also provide interest and dividend income.'

This will be particularly beneficial to your financial security in providing cash flow during retirement.

Edmisten advised consulting a financial planner to take the leap - but insisted that it is an easy enough process to explore.

Next on Edmisten's list is investing in your own personal value in the workplace.

He urged people to consider courses in training and coaching to improve business skills.

This will, in turn, then significantly boost your earning power moving forward. 

Next on Edmisten's list is investing in your own personal value in the workplace - he urged people to consider courses in training and coaching (stock image)

Last, but by no means least, Edmisten insisted that it is essential to invest in your own health and wellness - which many people often overlook.

This includes learning to cook and eating healthily as much as it does buying personal gym equipment. 

He told the publication: 'Being healthy can help you live longer and enjoy a better quality of life.

'It can also help reduce costly medical issues later in life, so there is a tangible financial benefit to being healthy. 

'Less doctors' bills mean more money available to do what you love, and you'll feel better to boot.'