Sunday, 18 May 2014

20 ways to grow and protect your wealth

1. Set out your goals / objectives
2. Review your income status
3. Develop a budget
4. Create alternative income sources
5. Save for six months, invest for a lifetime
6. Avoid spontaneous spending
7. Spend according to your income and budget
8. Seek financial advice
9. You may opt for discretionary management (which allows a professional to manage your money for you)
10. You may also embark on the ‘do it yourself’ (DIY) self direct investment journey
11. Articulate your investment goals and horizon
12. Assess your risk tolerance (based on your age, lifestyle, etc)
13. Review your expenses and financial status
14. Be aware of what stage you are in with your financial lifecycle
15. Match your goals with appropriate investment options
16. Develop financial strategies to achieve set goals
17. Align your short term goals with short term investments
18. Align your long term goals with long term assets
19. Periodically monitor your progress and update your plans
20. Start small, think big
Source: www.arm.com.ng

10 comments:

  1. Nice one.













    @iMannie_

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  2. Wow! This is like a wake up call. Although i know some of these, and manage to stick to them (some). But that number 6 eh... Chai! #doctorbobby

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  3. I love number 3 - developing a budget is very important

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  4. Yaay! I need to have some money 1st, but in meantime this has enlightened me.
    www.tosyne101.wordpress.com

    ReplyDelete