Rule # 7 Grow Some Money

"The man who had received the five talents went at once and put his money to work and gained five more. So also, the one with the two talents gained two more. But the man who had received the one talent went off, dug a hole in the ground and hid his master's money.” Matthew 25:16-18

Risk is not a four letter word. If we apply all the knowledge we have achieved we can multiply wealth.

That is all the knowledge, not partial knowledge, not greed, and not hearsay.
Investing money for your future has a few simple rules that will insure success. Always be invested, never try to time the market, contribute on a regular basis, and don't touch the money until you retire.

There are two obstacles that must be overcome in order grow our "talents"; procrastination and inflation.

You simply must start. Start now. Between you and your employer a minimum of 10% of your gross salary must go into "appreciating" assets on a regular basis coinciding with your pay cheque.

That's it, your done, see you in 10, 20, 30 years. That was easy.

Those "appreciating" assets can be stocks, bonds, real estate, all of which can be done via small monthly contributions into managed funds.

Inflation is the silent killer that erodes our buying power each and every month. If you are holding money in some sort of "safe" savings account you are not earning enough interest to keep you ahead of the inflation rate. Your safe investment will be exposed over time just as if you dug a hole and hid your money.

You are going to need around $500,000 to $1,000,000 to retire on depending on government, company pension plans, and your retirement spending plans. If you think this sounds impossible, don't worry it isn't.

If you start at the age of 25 and contribute $100 on a bi weekly basis until you are 65 with a 10% rate of return (all equity average) you wind up with $1,200,000. That's without increasing your contribution amount ever in the 40 year period.

Start. Start now. Hurry. Hurry faster.