6 Rules for Financial Stability

6 Rules for Financial Stability

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  1. Trust not your own wisdom when investing. Seek advice from experienced people. For example, you wouldn’t trust a construction worker with investing in petrol. You will trust him to build your house!
  2. Do not be afraid to take a loan to buy a good home. If you don’t own your home, and live your life in the suburbs, in a smelly, dirty neighborhood with a landlord with bad temper… How are you going to earn? How are you going to work and develop, if you are constantly miserable? Own your home! Don’t go for rentals. And choose a good home. It will pay off.
  3. Secure your old age. Savings will run out. Investments and a constant recurring stream of income will carry you well into your old age when you will be unable to earn. Do you know what’s worse than having an empty purse? Having an empty purse in an age where you are unable to earn!
  4. Lend to the lenders. Open a savings account at the bank and make regular small deposits, for example, every 2 weeks. The interest will stack over time!
  5. Insure against your death. Even if you wish to be eternal. You never know. If each member of your family did the same, nobody in the family would ever starve.
  6. Have investments for your old age. Yes, I am repeating myself. This is very important. Having a constant stream of money to carry you in an age when you can’t earn is a blessing!

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