If you are saving money in a bank its value will be at best standing still but more likely to be worth less each day. For this reason it is important to realise that you should also be putting some of your money into INVESTMENTS. An investment makes you money. Property is one method but many people do not want the hassle of maintaining houses and having tenants. Stocks, shares and bonds are beholden to the market and sometimes shares can be completely wiped out if a company fails. This is a risky strategy for your precious savings.
Some commodities such as gold, silver, palladium and oil are increasing in value at a fast rate. It is simple to buy gold and silver and it is also simple to sell it if you need to liquidate your money fast. Unlike property these metals have no upkeep, will not deteriorate with time and you don’t have the hassles with selling that you do with property. Continue reading →
To build wealth or at least some financial security into your old age when you may not be able to work any more you need to invest. Investing is not the same as saving. This is particularly important for women who seem to get left behind for various reasons when it comes to investing and building wealth for old age (e.g. worked part time whilst rearing children, low pay etc)
None of us really know what is going to happen next. All too often people, especially women, tend to expect others to look after them financially and emotionally. The problem with this is that by putting the responsibility on others you not only lose control of your own life, but you become vulnerable in the event of a catastrophe such as your partner walking out or dying.
Most of us know many people that have got to the end of their working lives, or their marriage and ended up destitute. This really is a very upsetting, stressful and horrible situation to find yourself in. And the thing is, it is totally avoidable – if you take responsibility for yourself.
It is very rewarding and empowering to take control of your own destiny, including your wealth, your health, your emotions and your spirit. Imagine feeling happy, healthy and wealthy and knowing that you reached that state yourself and no matter what happens you will live an amazing life! Continue reading →