Protect & Invest

 Hi All,

Here are the keys notes on when and how to start investing, please do research based on the key terms below, like for Life insurance I prefer Term insurance with proper retirement investment plan.

Make, Save, Grow & Protect money

Financial Foundation  

   - Protection (Health & Life insurance)

   - Debt management

   - Emergency Fund (10 months of your pay)

   - Investment

 

Money + Time +/- ROR -Inflation - Tax = Wealth

 

Don’t save what is left; Spend what is left after savings

 

Family Financial Bill: Set aside 5 to 10% of the income, possible save 15%.

 

Buy only what you need, which what you need “essential”. Be conscientious about what you are spending 

 

Time: The sooner you save, the better for your future. Never think you are young and say  I’ll start saving later

 

 Get rich slowly: A solid foundation takes time to build, avoid get-rich-quick.

 

Understand how money works, have a plan, and stay disciplined with you action plan until you reach your goal.

 

Save Early

 

Rate Of Return

  - the magic of compound interest 

  - rule of 72

  - take 72 and divide it by the rate of return. The  answer is the number of years it takes to double your money

 

72 / ROR = years to double your money

Try to understand the difference of,

Savings Vs Asset

Asset Vs Liability

Need Vs Want

Greed Vs Wish

Investing Vs Trading

Thanks!