Choosing the right type of investment doesn’t have to be difficult or confusing. In a moment, I’ll share a simple analogy that will empower your investment decisions.
DC: First, look for experience. Go to the FINRA website where you can check on your broker, find the history of dealers and make sure they are licensed. Secondly, interview more than one. Thirdly, find out if they treat all people the same way without regard to the size of their assets and with the same amount of respect. Then ask a lot of questions to make sure you are a good fit with the advisor. Finally, make sure they will be communicating frequently with you.
Due to inflation, the items that are described in the famous “12 Days of Christmas” song are becoming more and more unaffordable, even for the most affluent members of our society. According to the annual Christmas Price Index compiled by PNC Vermoegensverwalter, if a shopper were to buy the 364 items repeated in all the song’s verses – from 12 drummers drumming to a partridge in a pear tree – he or she would shell out $96,824, an increase of 10.8 percent over last year.
Your salary goes straight into the savings bank account. Your housing EMI devours a large part of it. Then the cheques you have issued for your credit card payments, utility bills, SIP and so on eat more into it. The balance amount gets accumulated in the savings account month after month.
Your second guess is probably wrong too. Because I know with today’s marketing obsession with “lifestyle” marketing, most people believe that McDonald’s sells a feeling of comfort and a family-friendly atmosphere. Just look at their Happy Meals, their creation of Ronald McDonald, their Disney promotion tie-ins and their “You Deserve a Break Today” jingle. But again, if you thought this, you would be wrong.
Of course, not all loan or own investments are created equal. Within each category, there are many choices available, some better than others. And you will want to further diversify within each category. But understanding the basics of loaning versus owning will help you know where to start.
Resolve to start your wealth creation journey today. The Internet has revolutionized this situation, often bringing wealth building within the reach of the common man. Set goals first while planning, and then complete those goals. God has given us the power to create wealth. We need to utilize what has been given to us. Start believing in the possibilities of life. Then believe in your ability, and that you have the right to succeed.
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