Learn to Attract Money

You already know that the best way to learn about creating wealth is from people that have built their own fortunes. When you learn how they think, you will be able to create the fortune you desire.

To equip yourself, below is another resource that you may want to browse through to learn about some proven techniques that you can apply to your life.

Just click on it.



Happy Reading!


Reading Material (not to be missed):
How to set Goals? Click Begin with an end in mind,
Importance of Saving: Click Power of Compounding, Power of Saving,
How to grow my wealth? Ways to Invest

Wealth Creation Mindset

Do you know why you are not rich? Would you like to know what it takes to be wealthy?

Financial Abundance and Wealth Creation is a real and tangible idea but there is a critical condition to it. In order to grasp the idea of wealth creation, one must take the view of the rich and the wealthy. Want to know the mindset of a millionaire?

Here it is:
a) Find optimism. View each failed attempt as a learning experience. Take the feedback and change the strategy until results are achieved.

b) Find encouragement in defeats. Do not give up easily.

c) Find opportunities when it is most invisible. Everything happens for a reason and that adversity is often opportunity in disguise provided you learn from your experience and continue to take consistent action.

d) Exceed own expectations in whatever you do. Adopt an adaptive mindset that creates value wherever you go.

e) Be Proactive. Take initiative to make things happen. When problems get in the way, take action to solve it.

f) Do what you love. This is the only way you can become totally obsessed and committed towards something.

g) Delay gratification. Saving is involved in wealth creation, and that means forgoing what we can spend now for later. Spend Less and Invest More. Have patience to allow your money to grow and compound through investing.

h) Moving forward. Improving oneself in every aspect and knowing that there are different ways to be a better person is a mindset that can help you to improve in the long run.

Are you now ready to revamp your current lifestyle? Changing your mindset is the key towards the life you desire.

For more reading materials, click here.

Retire? Not so soon, say many Singaporeans polled

Below is an excerpt from an article taken from the Straits Times dated August 11, 2007.

Retire? Not so soon, say many Singaporeans polled.
"Singaporeans are in no hurry to retire and most want to work beyond the official retirement age of 62, some even into their 70s. It is a case of "CPF not enough" for many of these workers.

Seven in 10 polled last month in a Straits Times Insight survey on CPF said they do not think their savings in the national pension fund will see them through old age.

The survey of 636 Singapore residents aged 30 and above found that apart from CPF, 77 per cent expect to be able to draw from other sources of retirement income, mainly savings, investments and insurance. But a significant minority of 23 per cent had nothing else set aside.

One cause for concern is that only one in two Singaporeans has done any financial planning for retirement.

Even fewer, three in 10, have done their sums on how much they need to squirrel away.

What may mitigate against any resulting savings shortfall is their willingness to work beyond the retirement age of 62."

Hi Friends,
Where do you think you stand in this area? Do you have a sense of security over your retirement finances? Would you be happy with just a lifestyle of S$789 per month when you retire? If not, are you willing to work beyond your retirement age of 62?

These are real issues that one cannot ignore. At the national level, our government is studying ways to tackle the ageing population and one of the ways is to help Singaporeans work longer.

Which do you prefer?
a) I need to carry on working because of worries over insufficient savings; or
b) I like to carry on working because it adds meaning to my life.

I believe everyone wants to be given a choice. And who can give you this choice? It is yourself. So start planning early for your retirement. Grab a copy of the financial plan template to get an insight on how to do your financial planning for retirement.

Ways to Invest

Have you started saving for your emergency fund? I encourage you to do so if you have not. For those who have already reached the targeted emergency fund, I congratulate you. This means you are ready to invest.

There are a number of ways that you can invest in the financial markets. As an investor, you would want to make the right investment choice that best suits your financial needs. Hence, you must take charge of your own investment.

As a start, you should get yourself familiar with the different types of investment instrument available in the financial market. The common ones are:

a) Bank Deposit
Bank deposits like fixed deposit accounts are usually short term investments to hold money for use in the near future. It is easily convertible to cash. Such deposit has low risk of losing value but offer low potential returns.

b) Insurance Products with savings or investment element
These are product that provide not only protection but also a saving or investment plans. Examples of these are whole life polices, endowment polices, annuities, and investment linked insurance policies.

c) Bonds
When investing in bonds or fixed income/debt securities, you are actually lending money to finance a corporation or the government's operation, becoming a creditor of the corporation or government. Bond investments are interest earning and the bonds value appreciate or depreciate in relation to interest rate changes. This is generally a safe investment. However, except for bonds from the government, bonds carry the potential risk of default, no matter how remote that risk might be.

d) Structured Deposits
A structured deposit is essentially a combination of a deposit and an investment product where the return is dependent on the performance of some underlying financial instrument. Typical financial instruments linked to such deposits include market indices, equities, interest rates, fixed income instruments, foreign exchange or a combination of these.

e) Mutual Funds / Managed Funds /Unit Trust
A mutual fund is an investment company that takes cash from investors and invest it into diversified securities, providing investors with both diversification and professional management of their funds. A mutual funds invest in stocks, property, bonds, options, money market securities, and commodities to name a few, depending on the fund's investment objectives.

f) Shares and Equity
Stock investment is equivalent to holding an ownership in a corporation, and your investment value appreciates as the price of the shares or equity goes up and vice versa. This is considered a high risk investment, unless you managed it well with great discipline.

g) Option Trading
An option is a contract between two parties giving the taker (buyer) the right, but not the obligation, to buy or sell a security at a predetermined price on or before a predetermined date. To acquire this right, the taker pays a premium to the writer (seller) of the contract. There are two types of options available: call options and put options. Call options give the taker the right, but not the obligation, to buy a security at a predetermined price on or before a predetermined date. Put options give the taker the right, but on the obligation, to sell a security at a predetermined price on or before a predetermined date. The taker of the put is only required to deliver the underlying shares if they exercise the option.

Above are just a brief account of what they are. You will get more details in due course. So stay tuned.

wealthcumhealth.com

Hi, a very good day to you. Welcome to wealthcumhealth.com.

As the name implies, this site basically addresses two main topics that are close to everyone's heart and that is wealth and health.

It is without doubt that everyone wants a good life, including myself. We want to be able to live the lifestyle we desire and be in a pink of health. Chinese has a saying that Health equates to Wealth and isn't this perfectly true because poor health certainly can erode your wealth.

Are your living in the lifestyle you desire today? If not, how is your wealth creation journey so far? Are you still struggling? Come and visit this site!

I can assure you that it shall be a discovery journey for you. You will get to learn that:

1. Goal Setting is very important. Once you begin with an end in mind, it helps to set the direction right for you.
2. Success hinges on the right frame of mind.
3. Many tools and strategies are available to create your wealth.
4. Health is just as important as wealth
5. Continuous learning is one of the keys to success.
6. "How to get started" is actually easy.
   

What are you waiting for? See you at http://www.wealthcumhealth.com.

Hurry! Success will come running after you in no time.