How amazing would you feel about these 5 things were paid for as long as you live, without having to work or pay for them again?
1. Home mortgage/rent paid forever
2. Your utilities paid forever
3. All food expenses paid forever
4. Basic transportation needs paid forever
5. Basic insurance costs paid forever
I mean seriously imagine, the comfort you will feel, the deep sleep you will get if they are really paid forever. Guess what? The money you need to pay all these expenses is a lot less than you think it is. Many people don't start a journey towards financial security because inside they believe they need to save too much and it's not possible.
Guess your number? I promise for the majority of people it's lot's less than they think. Let's get your number.
1. Rent / mortgage payments _____ per month
2. Food, Household _____ per month
3. Gas, electric, water phone _____ per month
4. Transporation _____ per month
5. Insurance _____ per month
Total _____ per month
Total basic monthly expenses _______ * 12 = __________ per year.
( average basic expenses: $34,000)
To pay an expense of $34k per year, i just need to save $640,000 at 6% pa.
You: Hey, you think I am a kid? telling me all this basic math.
Me: When was the last time you calculated how much you need if you stopped getting your payslip, your business went bankrupt. The reason I posted this because many people think they need like $10 million for financial security. When I was a kid, I taught I need like $5 million for financial security. What if in 2007-8 housing bubble, people had this financial security. The whole story of people on their own books would have been different. It's easy maths, but the majority of people don't have financial security. 33% of Australians have less than $1000 for an emergency.
How to get 6%?
Me: What if I can tell you, there is a way to beat 97% of hedge funds, mutual funds and make more than 6% a year with very little risk, what if I tell you there is a financial product with huge upside potential and no downside giving an average of 5-6% returns and backed by governments. ( no it's not bonds). A product is hidden from the herd and is only accessed by ultra rich?
Rest for next post.....
MAKE YOUR NEW YEAR RESOLUTION TO SAVE ENOUGH MONEY SO YOU CAN TRULY ENJOY FREEDOM. DON'T BE A SLAVE TO SYSTEM AND MONEY, LET THEM WORK FOR YOU.
HAVE A GREAT NEW YEAR ....
intelligent investor,Benjamin Braham
Money Master the game, tony robbins
The psychology of trading
Trading in the zone
The disciplined trader
The Biology of Belief: Unleashing the Power of Consciousness, Matter, and Miracles
Random walk wall street
uncommon stocks, uncommon profit