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Saturday, 19 May 2018

Wealth Preservation: Do you believe every $10k Counts in preserving your wealth?

This blog post is trigger by Questions like should I invest in ETF and fight inflation with my savings.

To begin with, our objective must be very clear before we are able to reach our goals.

In the science of investment, every investment should have a significant returns that made a differences in our life.

I am not saying investing in any ETF by using Dollar Cost Averaging (DCA) is wrong.

We just need to know what is the goal for using the Art of DCA and will it make a differences in our life by then?

To be realistic, having a saving of $10k is achievable if we know what we are doing in our life.

In fact, many have $10k in their bank saving account now.

We should look at micro managing of our money and starting with $10k is a good amount that can make a 
significant differences  in our life.

Basically, the idea is to make $10k work harder for you and at the same time you can grow your wealth by career or business.

So how do we micro manage the $10k to our benefit?

Let's use our daily necessities like our mobile phone charges. 

If the mobile bill is $50 per month.
That means the Annual bill is $50x12month = $600/-.
If a person have $10k saving and buy a 6% reits or safer products which is "sustainable" and "bought at the right value".
$10k x 6% = $600/-

The annual distribution per unit will help pay the phone bill which is one of the essential expense in life.

With the above example, when one manage to cover their essential expenses with $10k block, they will be able to achieve more in life without making huge mistake or risks that requires big purchase that could trap the money or cause heavy losses.

Always keep your money management simple and you will see good result.

Making it complex can brew good result too but the complexity might be taxing for an individual when the macro market turns against you.

Remember this, no one can control the market, we can only progress with it or bite the bullet with it.

Do you believe me?

Another Good Deed Done!

1 comment:

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