YOU AS YOUR OWN MANAGER!!!
YOUR ROLE AS A MANAGING DIRECTOR
(Knowing what you want)
CONTROL FINANCIAL FREEDOM PLANS
(Checking to see you have done it) (Knowing what to do)
Now go and get the Bastard!!!
Start with a small target: $25,000
In bold letters write.
The KiwiSaver scheme logo. (Photo credit: Wikipedia)
“I WILL DOUBLE MY WEALTH WITHIN THE NEXT YEAR”.
Be realistic. It will not be easy. You may have to give up your overseas trip, a new car, less time to socialise with friends.
- Research the various money-making opportunities.
- Concentrate on the one or two most attractive investment markets.
- Develop a battle plan or a formula for success.
Start a saving growth chart. Having gone through this procedure a few times, you will become aware of the tremendous power you have within yourself. You will realise that you can achieve virtually anything you set your mind to. Thought this process it is absolutely vital that a positive attitude is maintained..
1st important realisation. the higher the rate of return on your investments the quicker you will achieve your target.
For an example: Kiwisaver can help you buy your first home.
Olivia and Eddie, are buying their first home – a $375,000 house. Eddie is self-employed and makes regular monthly payments to kiwisaver of $100. Olivia is employed and 4% from her before-tax pay of $40,000 goes into kiwisaver. Thier combined income is under $100,000. Both have been saving with kiwisaver for five years. As they’ve been kiwisaver members for more than three years.
- Eddie can withdraw $7,420.
- Olivia can withdraw $15,189.
In addition, they each applied for and received a kiwisaver first home subsidy of $5,000 – making $10,000 in total. In total Olivia and Eddie have $32,609 to put towards their first home.
2nd important realisation.
The more you save, the quicker financial independence will be achieved.
The first person saves half of their income and by living simply. The second person enjoys the luxuries of life and saves 10%.
The choice is clear. Save now and one day achieve financial success and independence, or be a slave. ( although to be fair, your slavery may be done with some style).
From these realisations you should now appreciate the importance of.
- Learning about investments alternatives.
- Saving as much as you can.
- Fix an ultimate target in your mind.
- Formulate written plans to achieve your target.
- Develop the right attitude and the determination to follow the plans.
- Review your progress.