When I was just starting my job after my graduation, I wanted to rise up the career ladder, fast. (Who does not?) In my first company, I learnt that one is usually promoted every 3 years, if one was performing very well. Else, it’s 5 years or more. I think career wise, it has been pretty okay for me thus far, after working for 19 years. In terms of investment goals however, I am still quite a distance away from what I hope to achieve before I retire. However, based on a working professional basis, I think I am slightly above average. So, perhaps a little sharing so that every working professional can also start to look at investment as compulsory and not as something out of the ordinary or wait till they save enough money. (which usually does not happen anyway)
Short term enough. It should be something we can start almost immediately. Start saving? If we intend to invest into something, make sure we do it asap. Fixed Deposit? Put in a meaningful sum and keep saving till we have sufficient funds to last us 6 months should we lose our job. Start to read about investments. Anything we can get our hands on. Many free stuffs today. Go for talks during property shows. All these could be done almost immediately and will push us up in terms of knowledge and readiness. For short term, it’s all about activities that we do. Set a goal, sure but this should keep changing because we should not set a goal too high which paralyses our actions. Thus, set a goal, hit it and set another one quickly.
Long term enough. It will have to be an asset that we invest in. Since you are reading kopiandproperty, it should include property. Buy it for the long term. Buy one for every kid we have. Buy it so that we have a place to sell off when we retire and wants to travel the world. Of course, have an idea what property we NEED. Read more, understand more. Homework starts at least 6 months before you should buy. Answer the WHY and not the Where. By the way, those over a million ringgit property in the PJ area, the buyers bought them a very long time ago…. If you buy a stock which has a good business and a good management, it will continue to appreciate too. Read how Warren Buffet chooses stocks. Learn from stock gurus too.
Just about enough. Do not wait too long before we start. Money is for investment. Not for spending. One example. If we could qualify for the home loan but will definitely struggle, then rent out the extra rooms if needed to reduce the mortgage payments. Another example. If we could hold on to the handphone for 3 years instead of three models in three years, that’s easily RM9,000 of savings. (If it’s either the S or the I). More examples but I hope we do the right things and things will be alright. If we do the wrong things, after a few years, we may wonder what went wrong. If we love to blog, it can even be a career. It will take many years of course. Happy thinking about our future because no one else would be thinking about it for us.
written on 20 Aug 2017
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