Wealth Building, Retire Early, Personel Money, Financial Planning, Saving Tips
#1 Financial Freedom Through Reading
By reading, we gain a lot of knowledge and wisdoms. Most of the people after leaving the secondary school, they stop reading. They stop learning new things or slow down their speed of leaning new things. Their learning process are limited to their daily works. That is the biggest corner stone for one to improve themselves and become successful.
EPF (Employee Provident Fund) had provided online portal or i-akaun for their customer since 2005. Employees and employers can check their EPF stuff online through EPF website.
I had my first stock investment account with TA Securities. In my hometown, there are not many brokerage firms, just TA, Kenanga and OSK only. Recently, I just know that actually banks are doing stock trading too.
If you have some saving in account after whole year of hard work, what will you do with the money? Most people have wonderful plan for it. Plan for vacation, plan for new car, new hand phone or now more to smart phone and so on as you can name it. They spend all and restart their saving at the beginning of next year for new plan. Spend it! That are what most frequently heard of or we are just the one of them.
I had made my decision to subscribe Personal Money magazine for one year start from October 2009. Past, I had bought them consistently each month from local book store start from January 2009. I even bought the pass issue of Personal Money online with cheaper price.
Personal Money is a local financial magazine. Just as the name given, it is a magazine that provide information about managing your money efficiently. The topic range from insurance, stock pick, tax, travel, financial product, car and IT gadget too. All in all it provide you precious info to maximize uses your money and manage your money efficiently.
From this post, I would like to highlight two things 1) how powerful is the compounding interest and 2) Start saving and invest earlier. Study the table below and examine the different between it.
The table below represent 3 persons start saving and investing at different age and different amount of money.
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.
