How to manage the individual finance/Carlos Pueblo
There are three factors to be satisfactory of our individual finance, first you need to have the capital, you need to invest such capital, and finally you need to let it grow and I call it the duration.
How do you accumulate such capital? I assume that you just like me without any opportunity to inherit any fortune and started with zero. We must work all the time and before getting to work, we must prepare ourselves very well at the school. We can't kid ourselves at schools and waste our time.
Secondly, we must be frugal and live within our means. Our balance sheet must be in positive all the time. We only borrow money when we think that we can get it back such as a home loan, Now, I have doubt about auto loan seriously. While we are working, we can join pension plans such as 401k or individual IRA, etc. You must be in the stock market for investment and your knowledge of the security comes in to help you, especially the mutual funds.
Now, you are working all the time and let your saving investment grow. I have been witness almost every professional such as engineers make it to millionaire class when they retire in their pension saving. I know that it is very difficult to save the same on after tax money because IRS needs more from us to pay the huge expanse in the US governments.
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