February 28, 2017

Financial independence

Having the right income or money at any age is essential in surviving in this world.They say money is not everything in life.It may be true but living in the concrete jungles of this world, it is the main thing.You need money to buy food, clothing and have shelter.Most homeless people hardly have anything to eat or change their clothes because they do not have the money for them.In short, they lack or do not have Asset Retention independence, not even financial dependence on a job.

They may have had cars and houses once but they had no Asset Retention guide to be financially independent.They have lost everything and probably even communications with their family.

Savings

Savings have been encouraged for all people that earn for a living.It is even suggested that ten percent of gross income should be set aside as savings.The problem with savings is that it is not an assurance that it might not be good until retirement age unless it is invested to earn a lot more than a bank savings account.There is a problem with some investments because it can earn bigger than savings deposit but the possibility of losing is also there.

Government bonds could prove to be more secure in earning more but it can take time to accumulate them to get sizeable returns.There are other alternatives like insurance and real estate investments.

Insurance

Insurance is a wiser option when it comes to investment.Insurance companies foresee the cost of money and living in the future.Whatever the proceeds will be upon maturity of insurance will be close enough for what will be needed in the future.There are various plans for insurance and it will be good to have the plans explained to you.

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