Thursday, May 13, 2010

Ancient wisdom, modern lessons

People who are cautious rarely make money because nothing can be gained if you don’t venture out. If you plan to retire in 20 years, you cannot just rely on bank savings account as the low bank interest rate and high inflation will erode your savings, leaving you high and dry for retirement. Have diligent planning and be realistic about investment abilities and knowledge to help you along the way. Increase your knowledge by reading on daily basics, which one day might save you money or stress.

Fail to plan, plan to fail. Success will always look up to those who plan. For some, they spend more time selecting their holiday location than into financial planning.

Past performance cannot be a good indicator for future performance, but the behavior can be of reasonable guide by giving you a rough picture of what you might expect.

Invest even through it is a small amount on a monthly basis during good or bad times because it does not matter how slowly you go, so long as you do not stop.

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