People with foresight save money for contingency and future genrations. King Solomon said, “ He who gathers money little by little makes it grow”. This ancient wisdom is still applicable today.
Every month, save 10 percent of your gross income. This habit will ensure that your bank balance stays healthy. Many wealthy people do it. When you can affrod it, save a higher percentage. When you have accumulated enough funds, you will need to multiply the money. Remeber the following:
• Do not invest in risky ventures. Go for steady and proven institutions. The pro?ts may not be dramatic but your money is safe. Your returns are guaranteed.
• Do not chase fantasies or promises of quick returns. More often than not, your greed will cause a heavy downfall. Never believe in “get rich quick” schemes. You will be burnt quickly.
• The stock market is one way of making money. Buy low, sell high. It is a solemn principle. Buy stocks only when no one wants it end the price is below asset value. It will have to go up again. Do not buy on borrowed money. Moreover, you must have staying power. Buy and keep. It is instructive to know that only two percent of investors make money. The rest will lose because they are speculators.
• Buy property and land . Go for only freehold status or very long term leasehold land that is good for atleast three generations. Populations worldwide are increasing and everyone needs housing; and housing needs land.
• Provide for your progen-cy, ensure their subsistence and good education. A good man prepares for three generations ahead.
It is fun to see your money multiply. Money is good but obsessive love of it is bad.
We need money;
And money should be rightfully earned,
Not legitimately obtained.
The lack of money
Is the cause of many difficulties for many;
But it can be the catalyst for prosperity.
Make money grow and multiply Through prudent and steady investments
Avoiding all “get rich quick” schemes.
Do good with money
7.21am/Saturday14.5.94/ Ja-karta |Revised 5.53pm/ Monday/ 6.5.96/ Of?ce|Revised 6.01pm/ Wednesday/ 30.11.11/ Home: Jade Tower, Bayshore Park , Singapore
By JIMMY TEO