Just For Thinking ..
Read?
Why Pursue Financial Freedom?
Currency of Life is Time and not Money; but Money is the way or tool to gain to exchange for more personal Time.
Read?
Four Financial Progressive Stages
By Herbert Harris
1. The Earning Principle
All wealth is created in the mind. The
earning principle covers the exchange of value required to create
sufficient income to meet your needs.
2. The Spending Principle
The Spending principle covers the manner in which you spend, circulate, or otherwise dispose of your money.
3. The Saving Principle
The saving principle covers the accumulation of surplus - the difference between your income and expenses - from your income
4. The Investing Principle
The investing principle covers the allocation of surplus to increase your wealth and income.
Put it simply:
Spend less than you earn. Save what you do not spend. Invest a portion of what you save to help you to generate more.
Ask yourself the money question, "What is the best use of my money right now, in terms of my goals, vision and purpose?"
How to create wealth?
There are three basic ways to create wealth:
1. Wages and salaries
2. Income from a business
3. Income from investments
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Createweath8888's way:
1. Wages and salaries
Unless you are self-employed; otherwise, the day will come when your bosses will ask you to retire.
2. Income from investments
When you have the necessary skills, knowledge and experience
in investing, you will be able to generate reasonable income from your investments long
after you have retired or asked to retire.
I happened to know one 80+ Grand Old Uncle and he is still actively watching the stock market. It is really life time activity for those who enjoys it. May be can help to avoid Dementia!
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Ha! Ha!
ReplyDeleteIt's so simple meh?
If it is, why so hard to put it into practice. But i am trying to follow the 80+ Grand Old Uncle. With God's Blessings, i think i can.(65 now).
Excellent article for the young to read and ponder.
"All wealth is created in the mind."
ReplyDeleteThere is great wisdom in the above; "As a man thinketh, so he is"
i think this is very true in a sense.
My wealth has been created in my mind since the day i decided that when stock markets crashed i ordinary wage worker will suffer. Maybe pay cut, frozen or even retrenchment. And when stock markets soar like eagle in the sky i can only watch some people getting soaring with the eagle.
So i decided to learn to invest in the stock markets. And only at the age of 40, i dared to take the risks and plunge in; after reading and observing for many years on the sidelines. Funny, i am still learning to invest till now. But my i am trying very hard to adopt WB's Rule No. 1 & 2 now. No more hit & run rules. Pssst.... as little as possible i mean. Can't get rid of my fear and greed leh. Can't you? i doubt?