Saturday, June 19, 2010

A simple, easy, safe way to become wealthy holding a low pay job

Yes, you can be wealthy even holding a low paying job. Anything is possible. You just have to know the right method to do it. I saw the article title A Simple Way to Become Wealthy at Yahoo Finance and actually agreed with the method explained. According to the article we just have to treat saving and investing like a bill and setup an automatic allotment from out paycheck. I think it’s basically a simple trick to change your mind set to make it a must instead of “do it when have extra money”. Once you’re committed to make certain percentage of your paycheck for investment, you’ll do it no matter what. It might be difficult at the beginning but once you get use to it after a few months, it just feels like taking a lower pay. If you set your salary to transfer a percentage of funds for investing automatically right after you get pay, you might not even realize the difference. All you have to sacrifice is just a couple of party beers and drive a less expensive car that’s all. If you’re able to maintain and keep on the habit of investing for more than 10 years, you’ll be rewarded.

    As for investment, you may choose mutual funds or other automatic investment. Some people even treat purchasing insurance, property or transport as a way of investment. From one point of view, it is said purchasing the above items makes you trap in a rat race of being slave by the bank. That means you borrow lots of money from the bank and the bank owns you. For some people, they just think of it as owning stuff now rather than 10 years later. Well, it’s not own by them but able to use it right now. I did ask the question why and this is what I get in return. “I’m just paying more for the banks to take care of my investment. If I don’t make it as I must pay up or I’ll risk losing everything, then I might spend all the money I earn.” I suppose this is call taking up a pressure or a risk to make a person hold on to the responsibility effectively.

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