Every year as it edges closer, I start to take an even closer look at my finances and the investments I have... or rather haven't... made and what my financial outlook is for my upcoming years (oh my gosh, I feel like I just used too many "big" adult words in one sentence).
In short, it means I am panicking just a little about my future, and in particular my future wealth, have you ever had moments like these? Or can you honestly say that you have set up a series of investments that will secure your future?
The idea of possibly job hunting in my fifties, or struggling to pay my bills in my sixties, or being in my seventies and not having owned my own home - these are thoughts that scare me, and these are the thoughts that keep me awake at night.
For most of the past decade I focused on creating a stream of passive income - which is really great for the here and now, but this year I made a conscious decision to start looking at my future wealth, and to start making investment decisions that impact me positively in ten, twenty, thirty years and even beyond that.
I use a really great tool to help me when deciding on what investments I should make, which I will be discussing in further detail on today's Facebook Live chat, click on the image above to join in. Don't worry if you miss it though, I do save all my videos to my Facebook page, so you can watch it at any time.
The really exciting thing is, that if you really wanted to you could find a way to start making investments from as little as $10 (ZAR100) or $30 (ZAR300) a month. I'm not talking about saving, but instead actual income producing assets.
My most recent, largest investment currently cost me around $1,200 once off (around ZAR17,000) which really isn't a lot in the greater scheme of things, and I know that ten years down the line it will infinitely begin to produce a regular income for me. My smallest investment is going to cost me.... wait for it... around $50 (Around ZAR600) per month, but within five years it will not only be paying for itself, but it will continue to earn me an annual income for the foreseeable future.
Everyone, irrespective of their age should not be saying "I can't afford to invest" because in truth, you can't afford to NOT invest right now, especially if your aim is to have a financially secure future.
Read my previous blog posts for loads of ideas on how and where to invest today!
I look forward to sharing my Facebook live videos with you, until then remember to ALWAYS invest in yourself!
No comments:
Post a Comment