Taking Responsibility for Your Own Financial Freedom
1) It is never too late.
It is never too late for you to learn how to make smarter moves with your money. There are no stupid questions, only stupid decisions.
2) Acknowledge that your retirement is a reality.
Your retirement will be a reality, even if it may be 30 or 40 years away. It will cost you more money than you could possibly imagine. You wouldn’t want to wait & see if you can play catch-up.
3) “Someday” will be “No day”.
Don’t procrastinate. Do something now. It is entirely up to you to take care of yourself. Commit to saving & investing a small portion of each pay cheque for your retirement before you can spend it.
4) ALWAYS Pay Yourself First.
Treat your retirement as another line item taken out of each pay cheque. If you don’t have the discipline to keep to it, find a system of saving or investing where the money is deducted automatically from your bank account.
5) Never despise the days of small beginnings.
If you think you can’t afford to save, you are probably wrong. Even saving as little as $100 a month will help you begin to accumulate some serious long-term wealth. It is not the amount but the habit that is more important. Rome was not built in a day.
6) Time is of the essence because of The Power of Compounding Interest.
The best investment decision you will ever make is to start saving & investing your money AS EARLY AS POSSIBLE. The younger you are, the more your money can work for you. It is certainly no coincidence that Albert Einstein says The Power of Compounding Interest is the 8th Wonder of the World.
7) The best help you can get lies in your own hands.
No matter how much help you think you might get when you retire, don’t count on it. The only sure things in life are death & taxes. Don’t leave your retirement to chance. You can’t afford to lose.
There is a saying: Life is a journey. Can I suggest that Wealth Management is a marathon, not a sprint? The power of compounding kicks in only after a period of time…be patient. Wealth Management is indeed for everybody.
