Finance 101: Building A Solid Financial Foundation

[knightdream]

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To have real financial freedom, we need to be freed from any form of debt.
I believe credit cards should be part of those things to be eliminated.

that's right bro. also add "unnecessary" expenses to the things to be eliminated.

[knightdream]

nindot ni na thread dah.. daghan ta ma learn.
thanks guys!!

korek ka dyan! u may also post any questions or inquiries that u like, to know more about the new financial industry and how to become financially independent.

[cirext]

can u give me some financial instruments that are good to invest and y?

[lorenzoleo]

As for me, I place my long term investments in:

-saving in long term healthcare for retirement
-saving in insurances
-saving in bonds
-saving in mutuals funds
-saving in stocks ( very good for long term, risky for short term)

These helps in growing your money in a right way and outspace inflation.

For short term :

- business in Financial services ( The best oppurtunity that I ever met.)
- creating programming solutions
- Systems Engineering

As you see, I don't invest in properties because I hate estate taxes. I have bad experiences about these estate taxes
especially in the case that was happend to my grandfathers' business.!!!
I invest in paper investments to minimize tax.

My Financial Advice : If you have profits from your business, you must know where to place your hard earned money and save it the right way and live below your income.

[cirext]

-saving in long term healthcare for retirement
-saving in insurances
-saving in bonds
-saving in mutuals funds
-saving in stocks ( very good for long term, risky for short term)

These helps in growing your money in a right way and outspace inflation.

Though savings is not bad, to the entrepreneur's mind, this is a waste of opportunities.
This is playing too safe.
Its like riding in a giant tortoise when everyone had the bullet trains.

Can u really outrun inflation with this?
Might be. But ur counting cents on "paper" moneys for a very long period of time.
Its too much waste.

[cirext]

For short term :

- business in Financial services ( The best oppurtunity that I ever met.)
- creating programming solutions
- Systems Engineering

As you see, I don't invest in properties because I hate estate taxes. I have bad experiences about these estate taxes
especially in the case that was happend to my grandfathers' business.!!!
I invest in paper investments to minimize tax.

My Financial Advice : If you have profits from your business, you must know where to place your hard earned money and save it the right way and live below your income.

i can understand u very well..
because u still doesnt know the whole picture of Real Estate.

RE investments & opportunities is not about paying taxes to the govt..
Nor is it about having "burden" properties.

Its the widest opportunity ever given to man since the start of creation.
Real Estate is all about land.

Think of living w/o land...
That's how important it is to all people.
Now, think about how vast the land is...
That's how vast the opportunities it bear...for all.

[cirext]

By the way bro, dont hate estate taxes.
U had already paid all sorts of taxes... from what u eat, to what u wear and even as u move.
..and it will continue all ur lifetime.
Taxes are not bad..it helps run the govt.

What is not good is the govt that collects these taxes.

[lorenzoleo]

I know taxes are good. But For me I'm already close minded about properties. I don't want to get there any more. It is better to have a small lot to live in. I also hate about this CARP thing.

[lorenzoleo]

Though savings is not bad, to the entrepreneur's mind, this is a waste of opportunities.
This is playing too safe.
Its like riding in a giant tortoise when everyone had the bullet trains.

Can u really outrun inflation with this?
Might be. But ur counting cents on "paper" moneys for a very long period of time.
Its too much waste.

But I dont said that I invest all of my money in paper assets. at least 50% are stored in paper assest and 50% is for the living. For me becoming wealthy is being Frugal. There are many one month millionaire out there because of there lavish lifestyle. No matter how big is your income is, you could always spend it all if you have no discipline to save.

[the_guardian]

bitaw i agree!

pero lisura nga dili e-gasto oiz!