Chase your dreams, achieve your goals – but sometimes you need to down shift and learn to appreciate, enjoy and be happy with life.
It is fine to have goals. In fact I have many goals categorized and prioritised. (See mind mapping) However, when our life becomes one big rat race of achieving the next objective without stopping to smell the roses you will burn out.
Self Appraisal
Do you ever get the feeling that if you’re not doing something? Like you are letting yourself down? Read the rest of this entry »
Constant Investing Over Time
Put 10% of your money away each pay and do it consistently. This is not a rainy day account. No matter what life crisis decides to creep up and smack you in the face be sure you always put one-tenth of your earnings away.
This money is not to be spent, it must be invested. A good idea for those with an employer is to ask your payroll office to transfer a fixed (roughly 10%) amount into your saver account each pay. That way it goes unnoticed... by YOU
What happens?
Well, if you put $100 per week away in a regular savings account for 1 Year at 6% Interest you will have $5,357.91. Do that for 5 Years and you will have accumulated thanks to compound interest a whopping $30,308.82 !
Okay, is it possible to get rich from a compounding savings account? No.
$100 per week over 40 years at 6% return will compound to a total amount of $796,607. Having that invested will return $47,796 before tax. Yes, you can live a frugal life of that stream of income but how can we be rich? How can we live a life full of abundant wealth? Read the rest of this entry »
