Last week, I got a chance to attend our company sponsored Financial Wellness Session. It was conducted by PRU Life UK. It was a very enlightening discussion and fun too.
They asked us to play games that made us realize the value of investing in different investment vehicles such as stocks, business, mutual funds and real estate.
Here are some of the notes I have taken during the session.
- meets his/her financial obligations on time (such as credit card bills, loans, electricity, etc). If you are this type of person, congratulations! This means you are in control of your money!
- has funds to address emergencies (sickness, accident, acts of nature such as floods, calamities, etc.)
- has funds to realize his dreams
It is quite true that in order for us to realize our dreams, we must be very clear of what we want otherwise it’s like we’re driving a car in a road with a fuzzy windshield. So it’s gonna be very difficult and hard to reach our destination.
We also need to determine where we are in terms of our finances. This is also very important because in order to start any journey, we need to identify first where we before we can move forward.
It all starts with discipline and saving. Most people including myself find this very difficult but the good news is, it’s doable. This depends on the level of determination of a person and how far he can go to reach his goal.
For me, since I already lost a decade of working without any investment or plan, I have decided not to spare money for anything that will not direct me in my financial goals.
Fast forward after 4 years of investing in stocks alone, I was amazed of the result of “pay yourself first” and the power of compounding principle. Today I’m planning to invest in real estate with the help of my partner in life.
What about you? What holds you back to start investing?
Remember we can only spend our most precious asset “time” and we can never buy or bring it back. So if you’re lack of money, spend time to learn and start investing now!
As Robert Kiyosaki says: “Opportunities are not seen with your eyes, they are seen with your mind”
Photo credit: Kate Ter Haar