The latest patent war between the two digital media powers – Apple and Samsung – is a sure gem to be savoured. Read the whole story about Apple and Samsung’s truce.
Building your retirement fund is as easy as ABC. You don’t have to be a guru in the investment world in order to build your own retirement fund. The easy ways are outlined in a mode where you can have a good night sleep while enjoying life to the fullest. Here’s how:
1. After receiving your salary, practice and make it a habit to save at least ten percent of it. This is what the rich people do. They save first, and then spend later. It’s hard at first, but when you get the habit of strictly saving to pay for your retirement fund, you will never know how fast your money grows.
2. Invest as early as possible. The earlier you save, the better. You just have to know where to invest.
3. Invest your money where the banks invest its money. The first thing that comes in most people’s mind is to invest in banks. Although banks have so much to offer, it is not advisable to invest here. A savings account in a bank gives you only one percent interest. For time deposit, you are very lucky if you are offered a five percent interest. Remember, you are saving for your retirement fund and not your emergency fund (although saving in a bank is good for emergency fund-this is another story.)
Study the concept of where the banks are putting its money. Here you will have a clear picture of where you should invest your money for your retirement fund. Banks usually put its money in mutual funds, equity funds, bond funds, stocks, etc. Investing in banks guarantees you a fix interest rate, while investing in stocks, mutual funds, etc.; a fix rate is not guaranteed. Sounds scary? Come to think of it, banks are sprouting like mushrooms; do you think its investments have gone awry? I don’t think so.
4. Be financially literate. Educate yourself by reading books, reading the business section of the newspapers, ask advice from your friend who is successful in his business or seek the help of financial advisers.
If you want to start your own business, don’t be discouraged if you fail at first. The important thing is, you learned from your mistake. Creating multiple income streams is another avenue to build your retirement fund.
Remember, your retirement fund depends upon how, and where you will save. Do it right and you will be assured of a good retirement life.