5 Easy Steps to Financial Success
Financial success underlies America’s dominance as the largest and richest economy in the world – the land of opportunity – where we all aspire for the American dream.
Save and Invest: To become rich and wealthy, either one must innovate like Bill Gates, Elon Musk, or Mark Zuckerberg, or participate in the capital markets through disciplined saving and investing. If you do not save or invest, the road to become wealthy by simply parking your paycheck in the bank is difficult.
Start Early: Better late than never. The compounding works in your favor the more time you have on your side, given on average historically every 6-7 years, the stock market doubles in value. A simple $5,000 investment at age 21 has the potential to grow by age 65 to over $2.5 million by simply being in the market average (S&P 500 average 11.8% between 1925-2011).
Know thyself: Investing requires that you set goals and have an understanding, even if basic, of who you are, what you want, and where you want to be in a few years. Be honest with yourself. Be realistic. Know what your risk tolerance is – since higher rewards do come with more risk.
Prepare for the Journey: Investing requires patience as you take a long road trip ahead. Know your destination before you start driving the car. Make sure you have a roadmap to navigate step by step turns. Ensure your car (portfolio) is weather proofed and well serviced to sustain the storms, and have good shock absorbers to overcome the bumps. Drive safely without speeding or taking unnecessary risks, but don’t drive too slow below the appropriate speed limit. Arrive at your destination with full confidence.
Bring us with you: As you take the journey to financial success, trust us, have faith in us, treat us as your navigator and co-driver, and give us the opportunity to be part of your lives, your journey, and your eventual success. If you have the dreams, we have the expertise to help you make them be real.