Warren Buffet, the second richest man in the world, has donated $31 billion to charity. The following are some very interesting aspects of his life:
He bought his first share at age 11 and he now regrets that he started too late! Things were very cheap that time. Encourage your children to invest.
He bought a small farm at age 14 with savings from delivering newspapers. One could have bought many things with little savings. Encourage your children to start some kind of business.
There are two ways you can create money. You can exchange your time for money or you can make your money work for you.
Most of us work for money. We trade our working hours for a salary. In order to make more, we need to work more. But there are only so many hours in a day, even with overtime!
And there is more to life than working for money.
It makes far more sense to make your money work for you.
And you do this by investing.
Investing will help you maintain your current lifestyle.
It will help secure your financial future. What if you were retrenched? What will happen when you retire?
By investing today, you can build up a source of funds to help you live comfortably in the future. You invest so that you can provide for yourself in the way you are accustomed to both before and after retirement.
The sooner you begin, the sooner you can reap the rewards.The longer you invest, the more your money works for you.
• Since 1940 there have been only 2 YEARS WITHOUT INFLATION!
• Your money cannot grow without accepting some RISK.
• Investing has at least a 5-YEAR HORIZON, anything less is either savings or gambling!
• PAST PERFORMANCE is no indication of future results.
• The power of COMPOUND INTEREST is not fully understood.
• You should regularly save at least a TENTH OF YOUR INCOME.
• BANK investments never give real capital growth.
• You invest to PROTECT YOUR MONEY from inflation and make it grow.
• You invest to provide an INCOME IN RETIREMENT.
• Your most important long-term investment goal is a COMFORTABLE RETIREMENT.
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