TSLA
Tesla
-- 378.560 NVDA
NVIDIA
-- 137.590 PLTR
Palantir
-- 74.725 RGTI
Rigetti Computing
-- 18.8650 AMD
Advanced Micro Devices
-- 120.651 
Personal Finance For All Ages
How can you be good at investing without taking care of your personal finances? upon reading this post, I assume you are not in bad debt — There are good and bad debts, using mortgage loan to purchase properties is conder good debt that could generate higher yield during low interest rates period, whereas bad debt is taking loan for uncertain outcomes that could lead you nowhere but debt. Having debt give you less room to manoeuvre, less room means whem opportunity arise you might missed the golden ticket to financial freedom. Always avoid debt at all costs.
Personal finance is about discipline and the lifestyle you chose, the richer we are chances are the libilities increases because it is our second nature to seek for more lavish lifestyle. You have choices to go out to have meal or get charged additional to deliver your food to your place that you get so used to your comfort zone and continue to do so with the expense of your savings.
Start a simple excel sheet to track where you spent on could give you a better understanding of your personal finances. What to reduce and what is unnecessary to spend. Always have 6 months of emergency fund in your bank account.
If you are age 30 and below, it is the time where you can allocate half of your income and 1/3 of your savings in investments. It’s really depends on your risk profile to decide what to invest but personally, at this age I would rather in something fundamental aggressive to maximize my returns when I am in my 30s. At this time, people go party and having romantic partner. Oh, your partner play a role in your personal finances too! There will be celebrations, oversea trips, and staycations so while having all these happening events, remember to find one day to talk understand about each other finances.
For between age 30 to 50, there will be family, children, mortage loan sometimes elderly to take care of — Welcome to the sandwich club, while reading this I hope everyone of you have a protection plans, minimum everyone should have hospital coverage to avoid unforseen expenses. Only the healthy are able to purchase insurance, you should be proud to own them. There are cases where elderly hospitalization plans lapsed due to the negligence of insruance agents or deduction issues. These elderly might already have health conditions and may not have the chance to purchase hospital plans ever again! A situation that you are exposed to hefty financial loss. Just one problem and you might downgrade your house, bro. Better be as scared as you are in a hunted house. Other than that, transportation expenses are something that you want to take note of. We should not be using more than 20% of our household income for car installments.
At the transition stage of between age 45 to 55, is the time to focus more into your retirement outlines. When do you have plans to retire? Perhaps you should roughly know this in your 30s but now is the time you are about to harvest and the clock is ticking so if you are heavily invested in the market, you should be more cautious because at the time when you are retired you need to be able to withdraw partially or fully positively. The re-employment age is 68 according to MOM and it will be increasing in the near future. Therefore, you should be know your exit strategy and start working towards retirement even when you are in your 20s before things get difficult along with higher expenses.
#finance #economics #psychology #money #moomoo #stagesoflife #retirement #insurance #savings #investment #MoneyMaster
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