Apr
28
5 Basic Steps to Becoming a Millionaire
Filed Under Finance | Leave a Comment
Debra Dragon
It sounds like a lot, but pretty much anyone could become a millionaire with enough time and consistency. The trouble is, a million dollars in today’s money isn’t really worth a million dollars in the future’s money – but following the steps to becoming a millionaire will certainly be more rewarding and valuable then throwing your hands up in the air and saying “I can’t do it”! You can save a million even on average income, as long as you have determination and self discipline.
1) Earn consistent income.
Obviously, the more money you make the faster and easier it is to reach your million-dollar goal, but plenty of dedicated individuals have reached the coveted millionaire title on a typical $42,000 annual income. If you make even less than the median income, you don’t have to give up hope but you may want to consider what you could do to increase your income. Perhaps looking for a new career to replace what you currently do to earn money; or adding a second job temporarily may be the way to go. Regardless of what you earn and how you earn it, you can be sure that unless you hit a lucky streak at the casino or someone hands you cash – you can’t become a millionaire without having an income.
2) Learn to live frugally.
If you have consistent income but you regularly run out and spend every last dime each paycheck (or worse – you spend more than you make with credit cards and loans), you’re not going to become a millionaire. Heck, you may not ever become a thousand-aire with that type of lifestyle! Living frugally does not mean going without everything, it just means making wise choices regarding how and when to spend money, and not having to buy the most expensive version of everything you do need to purchase. Cut back living expenses by finding ways to save on utilities, find ways to reduce waste, and cut your grocery bill with simple methods. The money you save can be applied to your savings.
3) Save, save, save.
Everyone will tell you to pay yourself first, because what happens after you’ve paid the bills, living expenses, had a few drinks at the bar with friends? There is rarely anything left to save, right? Figure out how much you can afford to save per pay period, and consistently set that amount aside into your savings account (preferably one that offers interest, until you have enough to move into other investments and saving opportunities). If you wait until everything has been paid, you’ll rarely, if ever, get any money into your savings. Start small if money is tight, but get into the habit of saving that amount each and every pay period until you find ways to increase income or reduce expenses to increase the amount you are able to save.
4) Look for investing and savings opportunities.
As you are putting money into your temporary savings account, you can keep an eye out for opportunities to increase the return you get on your money. You might want to consider a variety of investments and deposit accounts to diversify your portfolio and maximize your returns while reducing risks.
5) Rinse, lather, repeat.
As simple as the instructions on the shampoo bottle – you can become a millionaire. You make money, you save it, you repeat. Consistency is the key. There are many factors that play a role in how much you’ll earn in interest, but using these basic steps you can eventually reach the millionaire status you’re looking for.
It sounds like a lot, but pretty much anyone could become a millionaire with enough time and consistency. The trouble is, a million dollars in today’s money isn’t really worth a million dollars in the future’s money – but following the steps to becoming a millionaire will certainly be more rewarding and valuable then throwing your hands up in the air and saying “I can’t do it”! You can save a million even on average income, as long as you have determination and self discipline.
1) Earn consistent income.
Obviously, the more money you make the faster and easier it is to reach your million-dollar goal, but plenty of dedicated individuals have reached the coveted millionaire title on a typical $42,000 annual income. If you make even less than the median income, you don’t have to give up hope but you may want to consider what you could do to increase your income. Perhaps looking for a new career to replace what you currently do to earn money; or adding a second job temporarily may be the way to go. Regardless of what you earn and how you earn it, you can be sure that unless you hit a lucky streak at the casino or someone hands you cash – you can’t become a millionaire without having an income.
2) Learn to live frugally.
If you have consistent income but you regularly run out and spend every last dime each paycheck (or worse – you spend more than you make with credit cards and loans), you’re not going to become a millionaire. Heck, you may not ever become a thousand-aire with that type of lifestyle! Living frugally does not mean going without everything, it just means making wise choices regarding how and when to spend money, and not having to buy the most expensive version of everything you do need to purchase. Cut back living expenses by finding ways to save on utilities, find ways to reduce waste, and cut your grocery bill with simple methods. The money you save can be applied to your savings.
3) Save, save, save.
Everyone will tell you to pay yourself first, because what happens after you’ve paid the bills, living expenses, had a few drinks at the bar with friends? There is rarely anything left to save, right? Figure out how much you can afford to save per pay period, and consistently set that amount aside into your savings account (preferably one that offers interest, until you have enough to move into other investments and saving opportunities). If you wait until everything has been paid, you’ll rarely, if ever, get any money into your savings. Start small if money is tight, but get into the habit of saving that amount each and every pay period until you find ways to increase income or reduce expenses to increase the amount you are able to save.
4) Look for investing and savings opportunities.
As you are putting money into your temporary savings account, you can keep an eye out for opportunities to increase the return you get on your money. You might want to consider a variety of investments and deposit accounts to diversify your portfolio and maximize your returns while reducing risks.
5) Rinse, lather, repeat.
As simple as the instructions on the shampoo bottle – you can become a millionaire. You make money, you save it, you repeat. Consistency is the key. There are many factors that play a role in how much you’ll earn in interest, but using these basic steps you can eventually reach the millionaire status you’re looking for.
Apr
27
Become An Automatic Millionaire By Applying The Power Of Investing
Filed Under Investing | Leave a Comment
Adam Khoo
Now, you may be thinking that a 12.08% annual return from the stock market may not sound very exciting. However, when allowed to compound over a period of time, it will turn small amount of capital into huge returns!
In fact, by utilizing the power of options trading you can easily make 100%-500% return on your invested capital at times (although I don’t suggest you throw everything into this strategy). Using this strategy was precisely how my partner Conrad manages to make average of US$5,000- US$7,000 a month (his record is US$14,852.25 in January 2007) with less than US$5,000 in capital. That’s a 100% return in a month.
Imagine if you were to earn an average of $36,000 a year ($3,000 a month) for your entire working life of thirty years. This is assuming you start working at age 25 after graduating from university and retire at age 55. The total income you would receive would be $1.08 million ($36,000 x 30 years). So the good news is that you would already be earning a million dollars in your lifetime, without any help from me.
The bad news is that if you are like most people, you would probably spend most of the money you earn and a whole lot more. You would end up at the end of thirty years with nothing much left. What if you were to just invest 10% of that income a month (i.e. $300) into the US stock market Index and allowed it to compound annually at 12.08%, how much would it grow to? Using a financial calculator, you will find that $300 a month invested at 12.08% compounded annually will grow to $939,106! Isn’t that amazing! Just by investing 10% of your income, you get back almost all of that $1 million which you earned in the first place. This is possible because of the amazing power that compound interest (returns) can have on small amounts of capital over a long period of time! And the best part is that it takes very little investment knowledge to do this. All you have to do is to invest consistently in the Index.
I know that some of you are probably thinking that you don’t have thirty years to wait to make your first million. You probably want to achieve financial freedom within the next 10-15 years or less! The great news is that with some hard work and the savvy stock picking skills are available for you to learn and apply, you will confidently be able to achieve a minimum of 15%-25% compounded annual returns on your investment.
Now, you may be thinking that a 12.08% annual return from the stock market may not sound very exciting. However, when allowed to compound over a period of time, it will turn small amount of capital into huge returns!
In fact, by utilizing the power of options trading you can easily make 100%-500% return on your invested capital at times (although I don’t suggest you throw everything into this strategy). Using this strategy was precisely how my partner Conrad manages to make average of US$5,000- US$7,000 a month (his record is US$14,852.25 in January 2007) with less than US$5,000 in capital. That’s a 100% return in a month.
Imagine if you were to earn an average of $36,000 a year ($3,000 a month) for your entire working life of thirty years. This is assuming you start working at age 25 after graduating from university and retire at age 55. The total income you would receive would be $1.08 million ($36,000 x 30 years). So the good news is that you would already be earning a million dollars in your lifetime, without any help from me.
The bad news is that if you are like most people, you would probably spend most of the money you earn and a whole lot more. You would end up at the end of thirty years with nothing much left. What if you were to just invest 10% of that income a month (i.e. $300) into the US stock market Index and allowed it to compound annually at 12.08%, how much would it grow to? Using a financial calculator, you will find that $300 a month invested at 12.08% compounded annually will grow to $939,106! Isn’t that amazing! Just by investing 10% of your income, you get back almost all of that $1 million which you earned in the first place. This is possible because of the amazing power that compound interest (returns) can have on small amounts of capital over a long period of time! And the best part is that it takes very little investment knowledge to do this. All you have to do is to invest consistently in the Index.
I know that some of you are probably thinking that you don’t have thirty years to wait to make your first million. You probably want to achieve financial freedom within the next 10-15 years or less! The great news is that with some hard work and the savvy stock picking skills are available for you to learn and apply, you will confidently be able to achieve a minimum of 15%-25% compounded annual returns on your investment.
Apr
26
10 Ways to Become a Millionaire
Filed Under Personal Finance | Leave a Comment
Ryan
Every once in a while someone becomes an instant millionaire by getting lucky. They might inherit a bunch of dough, create a product instantly wins popularity contests, or hit the lotto. For most of us though, becoming a millionaire is hard work. It takes time, discipline and some patience.
But for those who are determined to retire young and retire rich, it can be done. And becoming a millionaire does not require a high income. While that helps, building wealth is ultimately the ability to manage your money properly.
Here are some tips to get you started today:
1. Reduce consumption and increase investments.
2. Create and stick to a budget.
3. Increase your financial IQ.
4. Make contributions into investment vehicles on a consistent basis.
5. Start a part-time business to increase income and take advantage of tax write-offs.
6. Surround yourself with like-minded people who believe and support your goals.
7. Find great CPAs and other trusted advisers.
8. Set short-term and long-term goals.
9. Make a commitment to become a millionaire.
10. Start now. Time is your friend when it comes to investing.
Making your first million dollars is the hardest, but it will never come if you don’t take action. Continue to increase your financial literacy by subscribing and visiting financial websites, but don’t get stuck in “analysis paralysis” mode. While the information on these websites, magazines and new related TV programs can be very valuable, the prescription to making money is actually very simple. It’s just a matter of knowing the fundamentals and how to apply them.
Every once in a while someone becomes an instant millionaire by getting lucky. They might inherit a bunch of dough, create a product instantly wins popularity contests, or hit the lotto. For most of us though, becoming a millionaire is hard work. It takes time, discipline and some patience.
But for those who are determined to retire young and retire rich, it can be done. And becoming a millionaire does not require a high income. While that helps, building wealth is ultimately the ability to manage your money properly.
Here are some tips to get you started today:
1. Reduce consumption and increase investments.
2. Create and stick to a budget.
3. Increase your financial IQ.
4. Make contributions into investment vehicles on a consistent basis.
5. Start a part-time business to increase income and take advantage of tax write-offs.
6. Surround yourself with like-minded people who believe and support your goals.
7. Find great CPAs and other trusted advisers.
8. Set short-term and long-term goals.
9. Make a commitment to become a millionaire.
10. Start now. Time is your friend when it comes to investing.
Making your first million dollars is the hardest, but it will never come if you don’t take action. Continue to increase your financial literacy by subscribing and visiting financial websites, but don’t get stuck in “analysis paralysis” mode. While the information on these websites, magazines and new related TV programs can be very valuable, the prescription to making money is actually very simple. It’s just a matter of knowing the fundamentals and how to apply them.
Apr
26
The Principles Of Investing Education
Filed Under Finance | Leave a Comment
R. Taylor
Defining Investing Education
Principled investing is a misnomer these days. As facts say, most investors today wish that they want to learn more about investing. Therefore, common financial literacy is not so common after all. The need for people to be educated in a dynamic system should be taken into account. Thankfully more and more people are finding online education advantageous in improving their investing education.
Investing education is an abstract idea for most people. This is because that they value investment as a way to save money with the expectation that their finances should advance. Yet what they don’t see is that there are methods where investing can become an instinctive exercise to achieve financial freedom. This entails developing the perspective to find investing opportunities where most people find nothing. A quick refresher on investing education will teach students to change the way they look at different investment opportunities, risks, and rewards.
Investing education is also important in having a better read of today’s financial situation. As an analogy, anyone can enjoy a delicious cheese cake. But only informed people can dissect what is the real value of the cheesecake according to its taste and other characteristics that the uninformed eye cannot see. Therefore this education is a form of shaping and training that makes a student notice what he does not see in his first look.
Importance of Online Education
Online learning is in the center of the purposeful information marketplace today. Students of distance learning are seen to be highly motivated individuals who are able to adjust to the dynamics of different training materials and mediums that will allow them have a unique view of what education and training is all about. This dwells more on the practical and quantitative goals. This is evident in continuing internet based learning where the student is updated with the latest trends according to his field.
With the latest trends brought by the internet, online investing education is a practical side track to one’s personal development. Just imagine any full-time worker seeking to increase his finances to ultimate financial freedom. While he is severely tied to his career, he can scotch over some time to invest in his personal training. Web based learning then becomes an efficient method to acquire such knowledge because of its flexible and mobile advantages. Time saving and personal management is in itself a practical application of the objectives of online education and 21st century education.
Mindset Development through Investment Education
A positive impact that is not readily observable is the relationship of investing education and developing a millionaire’s mindset. Smart investors are able to find ways to generate income without much work. The thought that runs through a millionaire’s head invokes an encouraging level of attraction that will allow money to come to an individual. Investments should not be a methodical tool but a rational decision led by an instinctive millionaire’s mindset.
Everyone can become a smart investor through constant investing education. As you will learn smart investors completely do the opposite things and would rather be out leading. Leaders in the investment game are usually the risk takes that leave the average investor guessing. Planning ahead and thinking three steps ahead is one of the leading principles of investor education.
Investing education through online learning will teach you not only the methods of becoming a smart investor, but the mindset shift that will give you the instinct to be a smart investor and a wealth creator. The bottom of it all is that it should not be about the rules of the game. Instead, smart investors look at these rules smile at it and go the other direction; such a nugget of knowledge from 21st century educators.
Defining Investing Education
Principled investing is a misnomer these days. As facts say, most investors today wish that they want to learn more about investing. Therefore, common financial literacy is not so common after all. The need for people to be educated in a dynamic system should be taken into account. Thankfully more and more people are finding online education advantageous in improving their investing education.
Investing education is an abstract idea for most people. This is because that they value investment as a way to save money with the expectation that their finances should advance. Yet what they don’t see is that there are methods where investing can become an instinctive exercise to achieve financial freedom. This entails developing the perspective to find investing opportunities where most people find nothing. A quick refresher on investing education will teach students to change the way they look at different investment opportunities, risks, and rewards.
Investing education is also important in having a better read of today’s financial situation. As an analogy, anyone can enjoy a delicious cheese cake. But only informed people can dissect what is the real value of the cheesecake according to its taste and other characteristics that the uninformed eye cannot see. Therefore this education is a form of shaping and training that makes a student notice what he does not see in his first look.
Importance of Online Education
Online learning is in the center of the purposeful information marketplace today. Students of distance learning are seen to be highly motivated individuals who are able to adjust to the dynamics of different training materials and mediums that will allow them have a unique view of what education and training is all about. This dwells more on the practical and quantitative goals. This is evident in continuing internet based learning where the student is updated with the latest trends according to his field.
With the latest trends brought by the internet, online investing education is a practical side track to one’s personal development. Just imagine any full-time worker seeking to increase his finances to ultimate financial freedom. While he is severely tied to his career, he can scotch over some time to invest in his personal training. Web based learning then becomes an efficient method to acquire such knowledge because of its flexible and mobile advantages. Time saving and personal management is in itself a practical application of the objectives of online education and 21st century education.
Mindset Development through Investment Education
A positive impact that is not readily observable is the relationship of investing education and developing a millionaire’s mindset. Smart investors are able to find ways to generate income without much work. The thought that runs through a millionaire’s head invokes an encouraging level of attraction that will allow money to come to an individual. Investments should not be a methodical tool but a rational decision led by an instinctive millionaire’s mindset.
Everyone can become a smart investor through constant investing education. As you will learn smart investors completely do the opposite things and would rather be out leading. Leaders in the investment game are usually the risk takes that leave the average investor guessing. Planning ahead and thinking three steps ahead is one of the leading principles of investor education.
Investing education through online learning will teach you not only the methods of becoming a smart investor, but the mindset shift that will give you the instinct to be a smart investor and a wealth creator. The bottom of it all is that it should not be about the rules of the game. Instead, smart investors look at these rules smile at it and go the other direction; such a nugget of knowledge from 21st century educators.
Apr
20
How can i stay motivated to important things?
Filed Under Other - Family & Relationships | 1 Comment
yUNg swAGAH0l1c
i have a bad j0b trying to stay motivated to alot of important things that i need to get handle example drivers license, spending more time with some of my family, sending letters off to family and freinds, investing, and getting a job
but i slack alot and procratstinate i think that i just have hard time staying motivated can anyone offer me any tips on howw i can??
i have a bad j0b trying to stay motivated to alot of important things that i need to get handle example drivers license, spending more time with some of my family, sending letters off to family and freinds, investing, and getting a job
but i slack alot and procratstinate i think that i just have hard time staying motivated can anyone offer me any tips on howw i can??
Apr
19
***jenn***
I am thinking of flipping a house, (I have never done this before) it’s not in shambles, just needs some updating. Built in late 1970′s, it was once a 3br house, but they knocked down 1 wall to make it a 2br with a large master br. So it would need a wall built for the 3rd br, new siding, new exterior doors, some interior paint, new countertops in 1 bath & kitchen, new vinyl floors in kit & 2 baths and new carpet in family room. No major construction needed (I don’t think). I can buy it for $150K in an area where avg home selling price is 250K and avg price in that specific neighborhood is $230K. How much money would you invest in this deal if you were to do it? And if you have done a deal like this before what are some tips/advice? Thanks all!!
this was an old lady’s house that she had not had the time or money to keep up with, she has moved out since she is getting sick and her family is just looking to sell it fast to get it gone. Being a 2 bedroom house in this area is a major detriment, since this is a family neighborhood and many will pass right up on a 2 bedroom house needing work.
I am thinking of flipping a house, (I have never done this before) it’s not in shambles, just needs some updating. Built in late 1970′s, it was once a 3br house, but they knocked down 1 wall to make it a 2br with a large master br. So it would need a wall built for the 3rd br, new siding, new exterior doors, some interior paint, new countertops in 1 bath & kitchen, new vinyl floors in kit & 2 baths and new carpet in family room. No major construction needed (I don’t think). I can buy it for $150K in an area where avg home selling price is 250K and avg price in that specific neighborhood is $230K. How much money would you invest in this deal if you were to do it? And if you have done a deal like this before what are some tips/advice? Thanks all!!
this was an old lady’s house that she had not had the time or money to keep up with, she has moved out since she is getting sick and her family is just looking to sell it fast to get it gone. Being a 2 bedroom house in this area is a major detriment, since this is a family neighborhood and many will pass right up on a 2 bedroom house needing work.
Apr
13
purvi
Looking to the present volatile market, I now want to invest in a gold bar or coin. Any tips? (like i studied the history of gold price, which shows that always between aug. sept. the prices get down)
Looking to the present volatile market, I now want to invest in a gold bar or coin. Any tips? (like i studied the history of gold price, which shows that always between aug. sept. the prices get down)
Apr
10
Melvin
You may ask, I don’t even get investment returns @ 10% with my mutual funds, how is it possible to get them risk free???
Yes, you can!
Well, you see the S&P 500 index (a basket of the 500 largest companies listed in the US market) has delivered 12.08% per year compounded returns over the past 50 years!
But… why is it risk free?
From 1956-66, it derived returns of 111.96%, 1966-76: 8.59%, 1976-86: 109.97%, 1986-96: 200.32%, 1996-2006: 101.26%…
You see, over a 10-year period, the S&P has never lost money for the past 50 years… in fact it was far from losing any money, that’s why there’s no risk at all in putting your money in the S&P!! It’s a sure make thing, over a 10 year period.
But you had better have the patience to put your money there. And put money only that you don’t need to take out, so you don’t take them out even in a down market. JUST PUT YOUR MONEY THERE AND WAIT!
Instead of buying a savers plan or endowment plan for a time horizon of 20-30 years or more, put it in the S&P! Just call your broker and tell him you want to buy SPY. It costs US$130 per unit. I guess that’s slightly less than S$250. Well, just buy 1 or 2 units a month (or more, if you can afford) as a savings plan. One unit at S$250 is just about S$8.33 a month! Instead of watching that movie ir buying that expensive handbag, car or other luxuries you don’t need, buy that SPY! You can put a larger sum in every month also.
Let’s see how much you’ll make over a 10, 20, 30 year period… Let’s conservatively assume that the S&P gives you only 8% p.a. compounded (that is still a good return compared to many mutual funds and all savings plan over the long term)
$500 a month for 10 years: $91,142 !
for 20 years: $286,723 !!
for 30 years: $709,307 !!!!!
$1,000 a month for 10 years: $182,283 !
for 20 years: $573,660 !!!!
for 30 years: $1.42 million !!!!!!!!!!
This is based only on a conservative return of 8% p.a. We know the S&P can fetch even more at 12%. Notice the great difference it makes by staying invested for an extra 10 years.
Compare staying invested at $1,000 a month for 20 years vs. 30 years: that’s about half a million difference!!!!! That differentiated the millionaire from the just-nice-now-I-can-retire person.
The lessons:
1. Stay invested longer!
2. Don’t waste time & get invested now!
See also now how those banks and insurance companies have been cheating us?????
Many of us would’ve been millionaires way before our desired retirement age had we saved $500 a month for 20 years, and not put our money into those stupid mutual funds and savings plans that gave us such low returns and choked our returns with sky-high sales, administrative & management fees!
In case you don’t already know, SPY charges only 0.2% operating expenses every year compared to the sky high fees of 2-4% of savings plans & unit trusts every year. This is because SPY does not require much work in tracking the S&P 500 index.
Call up your broker & buy that SPY every month and don’t withdraw your money no matter what happens! You only pay that one-time commission of buying and no more.
For more articles on investing, personal finance & self-transformation, visit my blog ‘Transform your Wealth & Life’ at http://www.thishelpsyou.blogspot.com.sg.
You may ask, I don’t even get investment returns @ 10% with my mutual funds, how is it possible to get them risk free???
Yes, you can!
Well, you see the S&P 500 index (a basket of the 500 largest companies listed in the US market) has delivered 12.08% per year compounded returns over the past 50 years!
But… why is it risk free?
From 1956-66, it derived returns of 111.96%, 1966-76: 8.59%, 1976-86: 109.97%, 1986-96: 200.32%, 1996-2006: 101.26%…
You see, over a 10-year period, the S&P has never lost money for the past 50 years… in fact it was far from losing any money, that’s why there’s no risk at all in putting your money in the S&P!! It’s a sure make thing, over a 10 year period.
But you had better have the patience to put your money there. And put money only that you don’t need to take out, so you don’t take them out even in a down market. JUST PUT YOUR MONEY THERE AND WAIT!
Instead of buying a savers plan or endowment plan for a time horizon of 20-30 years or more, put it in the S&P! Just call your broker and tell him you want to buy SPY. It costs US$130 per unit. I guess that’s slightly less than S$250. Well, just buy 1 or 2 units a month (or more, if you can afford) as a savings plan. One unit at S$250 is just about S$8.33 a month! Instead of watching that movie ir buying that expensive handbag, car or other luxuries you don’t need, buy that SPY! You can put a larger sum in every month also.
Let’s see how much you’ll make over a 10, 20, 30 year period… Let’s conservatively assume that the S&P gives you only 8% p.a. compounded (that is still a good return compared to many mutual funds and all savings plan over the long term)
$500 a month for 10 years: $91,142 !
for 20 years: $286,723 !!
for 30 years: $709,307 !!!!!
$1,000 a month for 10 years: $182,283 !
for 20 years: $573,660 !!!!
for 30 years: $1.42 million !!!!!!!!!!
This is based only on a conservative return of 8% p.a. We know the S&P can fetch even more at 12%. Notice the great difference it makes by staying invested for an extra 10 years.
Compare staying invested at $1,000 a month for 20 years vs. 30 years: that’s about half a million difference!!!!! That differentiated the millionaire from the just-nice-now-I-can-retire person.
The lessons:
1. Stay invested longer!
2. Don’t waste time & get invested now!
See also now how those banks and insurance companies have been cheating us?????
Many of us would’ve been millionaires way before our desired retirement age had we saved $500 a month for 20 years, and not put our money into those stupid mutual funds and savings plans that gave us such low returns and choked our returns with sky-high sales, administrative & management fees!
In case you don’t already know, SPY charges only 0.2% operating expenses every year compared to the sky high fees of 2-4% of savings plans & unit trusts every year. This is because SPY does not require much work in tracking the S&P 500 index.
Call up your broker & buy that SPY every month and don’t withdraw your money no matter what happens! You only pay that one-time commission of buying and no more.
For more articles on investing, personal finance & self-transformation, visit my blog ‘Transform your Wealth & Life’ at http://www.thishelpsyou.blogspot.com.sg.
Apr
10
How to invest money correctly?
Filed Under Investing | 3 Comments
Brandon W
G’day everyone.
G’day everyone.
I am just wondering, I am looking at investing some money. It’s only going to be about $5000.
Just wondering if anyone has any tips or anything on how to invest money correctly?
I heard many banks have a specific bank type which is like a High Interest Account. What are they exactly and how do they work?
Just to let everyone know I am living in Australia. So I am looking for some Australians to reply but if you are from another country I am still willing to read what you think.
This is very much appreciated.
Take care and enjoy,
Brandon
Apr
5
Couture x
I’ve always had an interest, but I think that especially now with the Stock Market not doing so great it is probably a good time to invest.
I’ve always had an interest, but I think that especially now with the Stock Market not doing so great it is probably a good time to invest.
Does anyone have a website that has good tips for beginners? I don’t plan to invest a lot (probably no more than $3000), but I just basically want to do it for fun and hopefully a little extra cash.