Sunday, 20 April 2008

Turn RM1 to RM67,815???

The coins rattling around in your pocket can add up to big savings over time. Don't you believe it..??? PLS BELIEVE IT!!!
Want a foolproof way to turn RM1 a day into RM67,815? It doesn't take a lot of money or time or personal sacrifice. There's no magic, no multilevel marketing salesman, no get rich quickliest on earth scheme salesman will call at your door or your cellphone.
In fact, it's the simplest and most-proven way to get richer, and if you extend this concept to other parts of your life, you could end up with an enviable retirement nest egg.
To start, all you have to do is take your pocket change at the end of the day and drop it in a piggie bank or 'tabung buluh'. If you can do that, and you put away about RM1 a day, that's just a humble RM7 a week. At the end of the month, you'll have about RM30.., still humble isn'it..??
Since this is money in your pocket, you've already paid taxes on it in the form of withholding from your paycheck. (If you're self-employed, that's not true, but we'll ignore that to keep things simple.) Every month, deposit your savings in a legal high divident saving account/ platform, where it can grow and be withdrawn in the future. High divident platform can be an ASB, ASN, private unit trust funds or any co-op share funds, i.e felda (if you are son of felda settlers, lembaga tabung angkatan tentera (LTAT) if you are son/ daughter of patriot or Bank Rakyat..
What's a paltry RM30 a month going to do for you? Growing tax-free (Remember, it was tax free bcs from your own pocket money/ salary) for 30 years, with a 10% annual return, your investment account will be worth RM67,815.
Not bad for pocket change, but that's just the beginning.
Here are some other ideas for saving a few bucks here and there that can add up to big dollars over time. Now, you can do a lil' bit of analysis work. Owh no!! Haha, you might be a lazy folks aite... Let me call you Mr A, you fork out RM500 every month do to these things;
>> RM100 (Dining out with families)
>> RM50 (DVDs/ VCDs/ CDs)
>> RM120 (Car wash or car detailing)
>> RM150 (Branded clothes)
>> RM80 (Indulge yourself with branded coffee at flashy boutique cafe)
I am pretty sure with some guts, Mr A can knock RM123 out of his monthly budget to be like this for the next 6 months,
>> RM55 (Dining out with families)
>> RM35 (DVDs/ VCDs/ CDs)
>> RM102 (Car wash and car detailing)
>> RM40 (Indulge yourself with branded coffee at flashy boutique cafe)
You know what, at 10% it RM123 a month it will grow to RM278,040 in 30 years. Mr A have practically financed your retirement with just a few small sacrifices.. How to cut this budget..???? I will tell you more next... And how bloody 10% can grow RM123 a month to be mounted at 6 figures..???? That is thepower of compounded interest (Which I will tell you more.........)

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