As we take a look around the world, the cost of life
and services go up every day, we must take action in our present to be prepared
for the future. I’ve written about the state of savings in the United States,
which is deplorable. With numbers like 7 out 10 Americans have less than $1000
in their bank account, and that during the Reagan Presidency 90% of Americans
saved 10% of their monthly income, and in 2009 that figure came to -10%.
Now, Europe is not any better, in a survey conducted in
Europe by IGN through the Dutch Bank made the discovery that an incredible 29%
of Europeans have no savings at all, and the citizens that actually were able
to save money only 36% of them were able to have 3 months’ worth of salary in
their bank account.
Recent studies have revealed that Europeans have been
discouraged from savings because of low interest rates. It’s true that it is
hard to save when the economy of the world is as it is, but this becomes more
of a reason to start thinking about your future and your family’s.
In Latin America, we suffer from the same as our American
and European fellows go through, very low interest rates from banks that we
might as well don´t save at all. Now there is a chance that people who want to
take the next step, who want to take care of their future, be it their
retirement, their kids tuition or just to save at a great interest rate, we
have asset management, where we can get amazing interest rates, and the effort
that we make from saving really pays off.
A master plan to take control of your present and your future Part 2
Today we will finish our appointment to create our
master plan, where we will secure our future and plan our present. Last week we
determined our goals and determined that the best option to save, is asset
management, where we can truly see the return on our investments.
This week we will finalize our plan with 2 techniques
that have proven to be the most effective over and over again. These are:
1. Begin a diet of expenses: Take one day a week and
do not spend absolutely anything that is not essential, necessary things are for
example, the bus you ride on the way to work, parking, etc. Everything else
just avoid, for example, the coffee that you buy in the morning, the chocolate
bar, the magazine, the newspaper, etc. This exercise is very good because in
addition to saving little by little, you practice your personal control: then
you can take it from one day to two days, then three days. Until you lead a
life free of unnecessary expenses, or at least bring them to a minimum.
2. The famous technique of the 30 days: It is very
possible that you have heard of it since it’s a very effective technique. Of
course, I want to clarify that this technique is for things that are not
essential, for example, do not take 30 days to buy a medicine. The technique is
for those purchases that we know very well are not necessary, for example, a
television with more inches, a new car, speakers with more power. A
modification that I make to this technique is that the 30 days is really a lot,
take 20 days, and I assure you that if it is not something completely
necessary, quite possibly you forgot about it by then
I hope my advice will really help you take control of
your lives, do not allow all your work to be lost due to poor planning. And
apply what you have just learned and lead a successful and fruitful life.
A master plan to take control of your present and your future Part 1
Since you are reading this article is quite clear
that you are interested in your future, and let me start by saying you came to
the right place, because I’m going to show you how to start right now a new
wonderful life, one where you’ll feel secure and calm because you feel prepared
and you just made a commitment with yourself to set a goal, reach for it and
First things first, let´s start by determining what
is your goal, it could be many things, one could be the dream of many of drinking
a piña colada on the beach in your retirement, it could be to see your kids
graduated with a great education in a good school, or it could be that sports
car you’ve always wanted. Whatever it may be there are things you have to take
into consideration. For example, the time that you have to save for your goal,
if you are saving for your retirement, then you probably have more time to do
it, but if you want to be able to pay for your kids’ education and your kids
are already 10 years’ old then you have less time to make it, but still have a
high chance to get there. When you use the services of an assets manager you
can decide the way you want to invest to a degree. If you want a faster return
on your investment, the it would be a great choice to invest 70% in stocks and
30% in bonds, but if you are saving for your retirement it would be best to get
a steady return for the long term and invest 50% stocks and 50% bonds.
Investing in asset managing companies has all the
benefits that saving in a banking lacks, the most important being the fact that
with an asset manager you will actually will be able to see your return,
something that saving in banking will not let you since interest rates are so
low you might as well don’t save in banking at all.
Now that we have determined what is our goal and the
type of investing that we must make, next week, we’ll continue with our plan to
have a better present with a shining future.
How much can I save with Payton?
Payton's periodic contribution accounts make it easy for you to achieve your financial goals. Our calculator can help you visualize your returns based on your contribution amounts.
Go ahead, try it out and see how much money you can save!