Gapeblogs

. Decide on whether you will be an investor or a spender: It is a basic principle. There has never been a person who has achieved it without investment. The richest man in the world in time J. Paul Getty once wrote “I have an allergy. It’s with me since I was small, allergy to spending money.”

. You must learn to avoid an all consuming lifestyle: You cannot be someone who demanded by your immediate items. Don’t be part of consumer generation. What you are really trying to do is build a foundation for future freedom that’s investment.

. Investment principle works one step at a time: When you invest something, you don’t do it for a quick, easy return. You must learn to think with a longer range perspective.

. You must invest in yourself: You should invest your money in things which have made for you. Focus your investment in the business you can influence. Make outside investment only when you have control over the business.

. Flexible investment plan: This can be commenced ten years ahead of retirement. Save 10%-15% of your income in an insurance company.

. Study, research and investigate financial opportunities: Don’t rush into investment of your money. If it sounds too good to be true, it probably is. Avoid any kind “get-rich-quick” scheme.

In conclusion, stick with what you know, and the most importantly is not to risk borrowed money, don’t make quick decisions. Seek good counsel to diversify.