Here's an excellent article about making money online. Unleash the potential of twitter, face book, YouTube and blogger!
* article originally published by the same author on ideasmoney. Copyright reserved.
Investment should be the first expense that we do every month. A sound investment made is going to multiply itself and work for us in the long run. So, the strategy of earn, invest and then spend should save us during the rainy days. Financial independence can be easily achieved only if we start this habit early.On the contrary , if we get into the habit of taking loans for our lifestyle shift/wants early on and start living on EMIs , your finances may be strained in the long run. In the article Power of postponing consumption this was illustrated with some example.Last week I happened to bump into a person who had cultivated the habit of investing regularly during his early years. He had been investing in a fund through SIP and this was long back in 97-00 before he left to US. When he came back in 2007 ,he didn't bother even to check the money in that folio (leave aside the question of withdrawing!!). When he wanted to upgrade his car this month, he thought of checking his portfolio and decided to sell his MF units. The market is down now and most equity fund NAVs have fallen by 30% since Jan'08. But when this guy decided to sell, he could finance his car fully by selling 70% of his units and the value of remaining units was almost 3 lakhs. He was surprised by considering the fact that he had invested only 1/10 th of the current value during the investment period.This awesome performance of equity may or may not get repeated in future again.But it is definitely worth investing and reaping the benefits manifold rather than just thriving on EMIs. This guy got a car ( worth almost 7 Lakhs) out of just 70,000 which he invested a decade ago and left with some good money too!!On the contrary lets look at a person who buys a car on EMI. he pays almost 15% as interest. By making money work for you ..you tend to gain in the long run. But this rquires tremendous patience and a systematic approach.
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*published in ideasmoney
When I was talking to a couple of my friends/colleagues , I got great surprises .
Person A was telling that he had never claimed his medical bills ( 15,000 Limit) in his entire career spanning more than a decade. Not that he wasn't aware of it, but he didn't care to take time to submit claims.
Another one said, he never bothered to withdraw/ transfer his PF from his previous employers. He is with the present employer for six years. He says he doesn't understand finance nitty gritties to do this!!!
In the same way, many succumb to buying money back policies or ULIPs as 'Investments" because they do not do enough research.
Another friend of mine doesn't stretch himself to transfer his funds from his savings account to an 80C instrument and ends up paying extra tax every year.
In none of the cases, this is happening because they can afford to do away with their money. It's because they fail to take that small initiative towards understanding an instrument or making an effort to being aware and acting in time.
Know your finances , if you plan to earn a crore in the long run.
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You can create a debt portfolio plus a equity top up in this case. This will give
100% protection to your capital amount invested.
Will help you increase your returns through equity.
How can you achieve this.
You can choose to invest the amount you have in a Fixed Deposit and opt for a monthly or Quarterly interest payout option.
Alternatively you can also choose to invest in POMIS ( Post office monthly income scheme) which pays out monthly interest rate.
You can invest the interest so earned in an equity mutual fund through the SIP (Systematic Investment Planning) route.
Suppose if you have Rs X with you now, you can invest such an amount in an instrument like F.D/ NSC for a period, say 5 years. You can invest amount X-Y in F.D/ NSC such that you will receive Rs. X on maturity. The remaining amount (i.e. Y ) can be invested in Stocks/ Equity/ Balanced fund based on your convenience.
Thus you can use equity as a top-up and sleep without the fear of loosing your capital.
article originally published in http://ideasmoney.blogspot.com (investment strategy where you dont loose money)
So what should we do to take advantage of the power of compounding? 1. Plan our future needs and investments in advance to take advantage of compounding. 2. Let the power of compounding work by never withdrawing from the investment. 3. Start as early as possible to give “compound interest “ enough time to work. See an example to understand the need for starting early and make the POWER OF COMPOUNDING work for you. A and B want to retire at the age of 60 years. To take care of his post-retirement requirements, A invests a total amount of Rs. 35 lakhs towards his retirement corpus. On the other hand, B invests a total of Rs 50 lakh towards his retirement. Despite investing less, A accumulates Rs 298 lakh, compared to B's accumulation of Rs 216 lakh. This was possible because, A had TIME in his favour. He began investing a sum of Rs 1 lakh p.a. earlier, at the age of 25 years, up to the age of 60. B, to compensate for lost time, saved twice the amount invested by A i.e. Rs. 2 lakhs every year from the age of 35, till the age of 59 years. But he couldn’t match up with A because he did not use the power of compounding for long.
So, start investing early and use the power of compounding . This will ensure you earning a crore faster!!
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