When I was young, I always dreaming of to get rich quickly. I wish that I will be given a chance to make big bucks in a life time. Making big money is an easy job in my mind that time. I think I can I dream to become successful business man. Do you have same dreams too?
This dream continue until I received my salary two weeks ago. It is not my first salary in life but it is my first salary with financial knowledge in life. During the school time, all part-time salary were gone to buying wanted stuff to gratify myself. That time, I never think of what kind of life I wanted to live on and no financial goal in life. As you can see, goal is very important in life. Once you have goal, you will persuade your goal and do certain sacrifice in life in order to achieve the goal.
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I like this idiom, all roads lead to Rome. This idiom mean you have different ways of doing something but achieving same goal. This idiom imply in our life but not many are aware of it.
We all have one goal in life, financial freedom. No one likes to work. No one likes to be in stress. No one likes to take order from superior. Everyone hopes that the y can enjoy without working. So why we work? We work to earn money for survive. We are walking on our chosen pathway to achieve financial freedom.
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Wisebread had compiled a top 100 personal finance blog list on web. What a huge project it is. As you know, there are many scams and useless information on the web. How many can you digest in these world wide web?
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If you ever read Rich Dad series of book, you will not be unfamiliar with the Rich Dad Cashflow Board Game. It is a creation of Robert T.Kiyosaki after he retire. You can just imagine cashflow board game just another type of monopoly which bring education knowledge.
Cashflow board game is described as mimic of what happen in real life, where most people is in the rat race. Those who are in rat race are people that spend more than they earn. They live from paycheck to paycheck to settle the bill and debt.
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Financial planning is important if you want to retire early and retire rich. It is just like your travel planning from destination A to destination B. There are several ways for you to reach there which have pros and cons on each of them. Same apply to financial planning. The important is you need have the blue print in your mind how to achieve your goal.
Below are 5 steps of financial planning. Each of them are equal important.
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From my previous post, you know why we need insurance. Basically, you will need two types life insurance so that any undesired health problems would not affect your family financial, especially if you are bread wider. These two are medical insurance and life insurance.
P/S: In this post, I separate the medical insurance from life insurance to ease my explanation. Actually, medical insurance is under life insurance. Hope it do not confuse you.
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Insurance is an important part of financial planning. However, a small percentage of people just neglect it and think that insurance is a scam or liar as they never claim the insurance before. Oh please, you need thanks GOD for not giving you a chance to claim insurance. If you are giving a chance, it definitely not a good news. Insurance is bought for transferring your risk to insurance company.
To better understanding how insurance work, regardless of life insurance or general insurance please read the easy concept below.
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