Make Your Money Work Harder

Ewpple Income For Life | http://www.ewpple.com
In our previous post, we have briefly outline Ewpple Income For life action plan.
The approach to the action plan is below.
Save – Build your nest.
Grow – Make Your Money Work Harder.
Use – Enough to last till the end.











In our previous post, we have briefly outline Ewpple Income For life action plan.
The approach to the action plan is below.
Save – Build your nest.
Grow – Make Your Money Work Harder.
Use – Enough to last till the end.
Save
Most of us earn a monthly salary. Unless you strike lottery or something similar, the only way to accumulate a considerable amount of funds is to save in a small portion monthly.
The best way to save is to
Determine a monthly saving amount based on expenses amount, saving & withdrawal period.
Put that amount aside immediately upon receiving the salary.
Live with & spend only your balance salary.
The saving period is from current to retirement age.
Grow
Saving money alone will not make you rich. Wealthy people get richer because money is always working hard for them passively & all the time.
Bank deposit rate ranges from 0% to 2%. Whereas inflation is normally 2.5% onwards. Your purchasing power will be greatly reduced by the time you retire.
The correct way is to park them in a low-risk profile financial investment portfolio that yields 7% - 9%.
The growth period covers both the saving & withdrawal period. Your money is growing the entire period from your 1st saving deposit till the last withdrawal day.
Use
To be able to last till the end, you'll need a systematic withdrawal plan.
Sell a partial portfolio monthly according to the amount of the projected expenses.
Use the proceeds for retirement, education or whatever original intended purchase.
Be disciplined, don't sell more than planned due to market condition or other reason.
In the next few posts, we will cover how much fund is enough for retirement or education, etc. So, stay tuned.
You will NOT make any money by merely reading this post. You need to take action.
Assignment
Question | Do you have a passive income now?
If you have no satisfactory answer to the above question, please feel free to contact me at ewppleblog@outlook.com.