THE 70/30 PLAN TO BEGIN BUILDING PERSONAL WEALTH. Here is a short, simple strategy that can be used by anyone, at any income level to begin building a secure financial future. Whenever you get paid, before doing anything else, immediately set aside thirty percent of your GROSS income. You will use that thirty percent for savings and investments. The remaining seventy percent is to be used for bills, and living expenses. Make contact with a good financial planner, who will assist you in setting up a portfolio for investments. Implementing this effective plan will call for some adjustments in your lifestyle, and may be a bit uncomfortable at first, but the rewards will be worth it. Develop one, three, and five year goals. Doing that will not only keep you focused, it will also give you visible benchmarks to view your progress. So, in review. 1. Set aside thirty percent of your GROSS income for savings/investments. 2. Use the remaining seventy percent for bills/living expenses. 3. Make contact with a good financial planner, who understands YOUR particular situation, and will help you set up a portfolio. 4. Create one, three, and five year goals to monitor your progress. 5. Stay committed to your plan. 6. Chill out later in life, and enjoy the fruits of your labor, while others deal with having to work until they literally die.
Posted on: Fri, 29 Aug 2014 13:03:46 +0000
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