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Make Compounding Work For You
- Start early. The sooner you start, the more time compounding can work in your favour and the wealthier you can become. Next to starting early is starting now.
- Stay disciplined. Make regular contributions to your savings and retirement accounts. Try to increase your deposits with time. Your goal is to generate a large saving rate.
- Be patient. Don't touch your investments. Compounding only works if you let your money grow.
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The Power of Compounding
At first glance, compounding does not look remarkable. However, looking at compounding in action, you will notice a few things.
Consider, for example, investing in stocks at an average real return of 6.8%. (It is inflation-adjusted.) During the first few years, compounding doesn't real...
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The Importance Of Saving
Your investment returns are less important than your investment contributions. That is to say, how much you invest matters more than where you invest.
The more you contribute, the more there is to compound.
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Financial Success: Start Early
Financial success is dependent on good habits practised over a long period of time.
You can still have a positive impact on your financial future if you're starting later in life, but you will then have a lot of work to do. This is due to the magic of compounding, that can...
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How to Save Right for Retirement
- Start Saving ASAP. Money you put in your retirement fund now will have more time to grow through compound growth.
- Avoid cashing out your retirement account early as it prevents your money from being invested and leads to penalties and tax bills.
- Contribute mo...
* Every gold piece you save is a slave to work for you
Every gold piece you save is a slave to work for you.
- Every copper it earns is it’s child that can earn for you.
- Wealth, like a tree, grows from a tiny seed.
- The first copper you save is a seed from which your tree of wealth shall grow.
5 personal-finance tips for young people
- Start saving early to have a good start on building retirement savings before beginning a family and career.
- Understand that credit cards are not a safe net, using it may lead to debt.
- Buying life insurance when you’re young ensures you’ll get lowe...
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