Please summarize this article with simple words around 150-200 words. . (this is about some keys to build wealth).

17. Minimize Investment Fees

We cant control how the market performs, but we can control our investment fees. Index funds and exchange-traded funds make it possible to pay almost nothing when you manage your own investments online.

Even among inherently low-cost funds, you can minimize your fees by choosing the right brokerage to invest through. Vanguards average index fund expense ratio is just 0.07% compared to an industry average of 0.23%.

That difference might seem insignificant. Its not. Say you start with nothing and invest $10,000 a year over 25 years and earn a 6% average annual return. The 0.23% expense ratio will cost you an extra $12,068.

Not sure you have the know-how to invest your own money? Consider working with a fee-only advisor who can suggest strategies and investments that you administer on your own.

18. Dont Try to Time the Market

There will always be people who look like geniuses for buying or selling an investment at what later turns out to be a pivotal moment. But those people were just guessing when they made those choices, and then they got lucky.

Heres what happens when they get unlucky.

Lets say you bought 100 shares of an S&P 500 index fund

(specifically, FXAIXS on Dec. 31 for $11,200. On March 11, when the WHO announced a global pandemic, you sold all 100 shares for $9,541, losing $1,659.

About two weeks later, on March 23, you feel relieved that you minimized your losses. Stocks have gone down further. Your investment would be worth only $7,793 if you still had it.

By June 23, you were ready to jump back in. You had to pay $10,900 for 100 shares.

Now youre back where you started in terms of your investment holdings, but youre $1,659 poorer. This example shows why avoiding market timing is so important.

Experts recommend that you have, live by and maintain an Investment Policy Statement to help you make better decisions about your investments.

19. Live Within Your Means and Avoid Debt

Tracking your spending for a month and comparing it to your income is a good way to make sure youre living within your means. Tracking your spending year-round will give you a better idea, especially if your expenses and income fluctuate. When you take on debt to overspend, you pay interest the opposite of what you need to do for long-term financial security, which is earn interest.

20. Try Drastically Reducing Expenses

To build wealth, drastically reducing your expenses can be a great idea. Downsizing your home can be the best way to make a big dent in what you spend.

21. Minimize Taxes (Legally)

You may not think of taxes as a monthly expense if your employer withholds the money from your paycheck and you never see it. But they are, and keeping what you earn is essential to building wealth. Learning about which tax breaks apply to you and how to claim them, as well as strategies to make yourself eligible for them, is a habit of the wealthy that all of us can follow.

22. Build and Maintain Relationships

The relationships we build through social clubs, meet up groups, work, and community are inherently worthwhile. Theyre fun, they help us feel connected, and they even boost our mental and physical health.

Better health means lower health care spending. And when you build genuine friendships, youll have a network of people who want to help you if you fall on hard times. Youll enrich your life.

Furthermore, your network can help you build wealth. Author Corley found that 79% of wealthy people spend at least five hours networking each month, while only 16% of poor people devote time to these types of social connections.