01 Mar 2007 | 2 comments | Money Saving Tips, Wealth Management, investment | Comments feed
3 elements of Wealth Accumulation
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Saving
This is how much we are able to keep the hard earned money to ourselves. Can we save RM300/month, or RM2/day, or RM50,000/year? Pay yourself first!
Time
We must give enough time for our money to work for us. The younger we are to start saving, the better it is.
Return
Rate of return is normally associated with the amount of risk we are willing to take. If you know an investment instrument well, you will eventually bear lower risk as long as you know what you are doing. Get higher return from our money! Put our money into places where they can work really hard!
Imagine the box in the picture is the amount of money we accumulated. Increasing the value of the 3 basic elements, we will certainly get a bigger box —-> more wealth!
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It is very simple, but very important.
I think I can manage the first 2. The 3rd one is a bit shaky for me. I need more education for that one.
Relax - 13 Aug 07 at 4:06 am