Five (5) Steps to Build Your Nest Egg
Today, read in newspaper regarding build your nest egg. It was so meaningful and thought it might be worthwhile to share it with you. What is nest egg? In financial term, it is a sum of money to help to tide over the years when you are no longer working.
The Five Steps are as follows
- Educate Yourself
- Plan
- Save
- Invest
- Seek Advice
Education
Everyone born naked, and no one is born with knowledge. No one is born with understanding on financial risk and potential financial gains. Education is very important, you need to understand many of the instrument and investment that can help in building your fund.
But, remember no free lunches in the world. Remember many years back many banks were working hard to promote and sell financial products such as Lehman Brothers product. The promoter always mislead you that your are safe on your investment, and plus many benefits.
Plan
Sound strategy and plan will make sure you do what is affordable and cut back when emergencies.
Save
Next is no matter how much you earn today, start saving now.
Invest
Invest with the intention to grow your money.
Seek Advice
Last, but not least is to seek professional advice on your decision making.
Enjoy your reading. Please tour around the website for more past postings.
Moses
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