I read “Richest Man in Babylon” by George Clason. A classic on Wealth. A 5000 years old philosophy still applicable today.
Here are the key points:
(1) Save 10% of your earning minimum.
(2) Invest that to profitable venture.
(3) While investing take advice of expert of that Investment.
(4) Pay 20% of your earning to reduce debt.
I have personally implemented this and seen the result.
I do see that investing in your home is one of the best investment a person can make. Stock offers another good investment option. Automating the saving plan really helps. Another good strategy is making Bi-weekly payment on mortgage as you make one more payment in year.
Wealth Creation and Management
November 3, 2009 by Kamal
Kamlesh,
Nice to read about this. I have lots of keys on my keyboard are out. Vaarin is using my laptop more than me in a day now a days and he pulled out some key. I want to purchase new keyboard as you mentioned. Will you post who is supplier in your case?I decided to give that laptop to Vaarin. He usually plays on line games. Some are really educational. There is website like playhousedisney.com
This month, next week , it is Sagar birthday and during black friday, he asked for IMAC -Apple laptop. We decided to purchase 15 inch 2.33 GHz IMAC ( around 1300$). Once he gets IMAC, than present TOSHIBA laptop will be spare. So I will use for my self and Hemu. Vaarin is good to go with Dell until it dies for ever.I think Dell is superb upto now.He used like anything. Wherever he goes he takes with him. Sometime he take with him in my patio also.I will take some pictures and will send you.
Also , by paying bi weekly mortgage payment options, one can make 26 installment. Out of that 2 are directly go to principal. In short, you can be debt free little earlier!
Good thought1
Dipak
Nice ideas. I am thinking that one should concentrate on being debt-free as soon as possible.
Keep up the great work you are doing!
– Farid
Great post. Another informative ideas which can be used to implement and hope you will give more strategies and share more opinions in reality based experience as well.Enlightened Wealth Institute