TOPIC: Sustainably building wealth.
We will be talking about three areas today
1. Insurance
2. Investing in a long term.
3. Risk and returns
Insurance:
If u have to pay for something when u can avoid it, you are wasting your money.
Pay your insurance and avoid wasting money.
Car insurance,Health insurance and Life insurance is very important and you should be able to pay for these.
Insurance is an asset class.
Long term investment :
When you invest, you need to think long term
Before you want to invest, you have to have a budget.
Budget is basically is a plan on how you spend your money.
If you don’t plan for your money, you won’t be able to give account of your money.
Plan your money and how you want to spend it.
As a millennia you have an edge to invest now, time is important.
You can gradually set some money aside to invest.
It’s important to invest so you can fight inflation.
You need to start thinking of how to invest and how inflation can affect you.
Investing is for a long term
Stop thinking of investing as a Ponzi scheme but in a long term.
Strike a balance and start planning for your future.
Invest for your children.
Discipline yourself and learn to say no to some luxury.
You can also look for how to generate more money to invest and protect your future.
Every time you put some money away you are paying yourself first.
