A Parent s Gift of Knowledge dyd6vunh5w8vk cloudfront net

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Foreword 3,CHAPTER 1 The Keys to Build an Amazing Life 5. CHAPTER 2 The Power of Compound Interest 8, CHAPTER 3 Control Debt to Avoid The Tail Wagging the Dog 14. CHAPTER 4 The Best Investment You Can Make is in Yourself 33. CHAPTER 5 A Navigation Guide to the World of Investing 36. CHAPTER 6 Cash and Fixed Interest Investments 50,CHAPTER 7 Investing in Property 55. CHAPTER 8 Investing in Shares 61,CHAPTER 9 Commodities The Earth s Resources 72. CHAPTER 10 Emerging Markets Enormous Opportunity,for Your Generation 76.
CHAPTER 11 Biotech and Energy Efficiency,The Other Big Trends 79. CHAPTER 12 Insurances The Necessary Evil 82,CHAPTER 13 Estate Planning 91. CHAPTER 14 Inflation Stagflation Deflation How the. Various ations Impact Your Investments 93,CHAPTER 15 Superannuation The Pros and Cons 98. CHAPTER 16 Sources of Knowledge 101,CHAPTER 17 Be Aware of False Prophets 107. CHAPTER 18 Starting a Business 110,CHAPTER 19 Summary 117.
A book is a gift you can open again and again,Garrison Keillor. The inspiration for this book came from my wife Linda who suggested I should leave a. legacy of knowledge to our three daughters Alexandra Emma and Grace. None of us know how long our tenure on Earth is so I wrote this book for the girls. to use as a reference source in the event I was no longer here to have that one on one. chat with them, The following is the personal message I penned to the girls in their personal copies of. You have been truly blessed to have a Mum whose primary goal in life is to be the. best mother she can be, From the day you were born Mum and I have loved you unconditionally It was. important to us to provide you with a safe secure and stable home environment. Your development was a responsibility we took very seriously An integral part of. our parenting role was to provide you with the opportunities and wisdom for you to. grow both physically and mentally, We did not always get it right We too were learning along with you This is one. of the lessons you will learn in life you will not always make the right decision. all the time it just isn t possible The trick is to be right more times than you. The purpose of this book is to share with you what we have learnt in our life journey. Foreword 3, Over thirty years ago Mum and I were the ones entering the adult world A lot.
has happened to us in those thirty plus years Marriage three beautiful children. mortgages career developments tragedy loss of parents investments good and. bad travel and many more experiences Along the way we have shared some of the. knowledge we have gained with you, Now you are entering the adult world and we are more conscious of our mortality. and it is important we commit to paper a greater insight into what we have learnt. Hopefully this knowledge will steer you in the right direction and enable you to. avoid the pitfalls that have led to financial hardship for so many people. Watching you grow up has been a sheer delight From a very young age you all. had a special quality about you But talent alone is not enough and to your credit. you have applied a great deal of determination and energy to mature into the special. young ladies you are today, Over the years you have been creating the foundations and principles upon which. your lives will be built Ask any builder and they will tell you a building is only. as solid as its foundations based on this truism you are destined to build truly. magnificent lives for yourselves, Hopefully this book of knowledge from Mum and I assists in putting some. structural integrity into the life you create for yourselves. Gradually our day to day influence in your lives reduces and this is the way it. should be However the principles we have espoused and the knowledge we have. shared has hopefully formed part of the fabric of your life. Love always and forever Dad,Foreword 4,1 The Keys to Build. an Amazing Life, When we are motivated by goals that have deep meaning by dreams that need.
completion by pure love that needs expressing then we truly live life. Greg Anderson, In 1987 my wife and I attended a self development course conducted by Lou Tice. The Pacific Institute We credit this course with giving us the tools to harness the. positive energy we possess and the ability to turn our then dreams into reality Every. single one of the goals we committed to writing down has been achieved Some took. longer to reach than others but life has a way of testing resolve to see just how much. you really want your goal Remember never never never give up. Take time to sit down and commit to writing what you would like to achieve. over the next decade how you would like your life to look It is important to. keep balance It is no good having a fantastic career and finding you have no time for. friendships or attaining impressive financial goals at the cost of your integrity. Your goals are personal be very careful whom you share them with People may. say Why do you want that or Who are you kidding People may consciously or. sub consciously try to sabotage your yet to be realised reality If you conceive it and. genuinely believe it you will achieve it If you are going to dream you might as well. dream big The size of your success will be determined by the size of your belief. The areas we set goals in are,Personal How we want to. 1 Strengthen our personal relationship,2 Build an amazing family life. 3 Build strong and loyal friendships, 4 Broaden our horizons with travel and exciting places to explore. Health Maintain a balanced diet and exercise program all the money in the world is. useless if you are bed ridden with ill health,The Keys to Build an Amazing Life 5.
Career Where you see yourself in ten years time and what steps you will take to build. the skill sets necessary to achieve the goal, Financial How much you want to earn what your net worth will be what sort of. house apartment you want to own what type and colour of car do you want to drive. Spiritual this is not religious take time out to appreciate the world and gain an. inner calm and strength this could be doing Pilates yoga walking on a beach or. being in a beautiful garden, The more specific you make your goals the more your sub conscious will have to focus. on and the greater the success rate in achieving your goals. While this book is primarily based on my views on how to handle money it is. equally important that you are enriched in all facets of your life. Money should be respected but not worshipped Money is only one dimension of. life There are so many other poignant parts in your life which is why it is important. you set other broader goals to give your life deeper meaning and satisfaction. I can honestly say that if my life ended tomorrow I would feel that it s been a job. well done a great marriage three wonderful girls strong family ties a close group of. good friends a successful and rewarding business career a reasonable amount of worldly. goods I ve seen a far bit of the world and enjoyed good health not to mention. Queensland has beaten NSW eight years in a row, These were all goals with the exception of the State of Origin wins that were put in. place over twenty five years ago,Conceive Believe Achieve. Take time to focus on what you really want out of all facets of your life Commit. these goals to writing and read them every morning and night You ll be amazed at. what power you will unleash from within Each tiny success will build into a list of. achievements that will reinforce your belief system. The world is your oyster and you know what s inside an oyster pearls. I found this quote and thought it was an appropriate note to end this chapter on. Don t live in the past thinking about mistakes or changes you made Think of. your life as a book move forward close one chapter and open another Learn from. your mistakes but focus on your future not on your past. The Keys to Build an Amazing Life 6,I can t wait to witness your stories.
So far they have been a great read but I suspect the best chapters are yet to come. The Keys to Build an Amazing Life 7,2 The Power of. Compound Interest, The most powerful force in the universe is compound interest. Albert Einstein, Compound interest is interest that keeps on snowballing It is interest that is. calculated not only on the initial amount invested but also the accumulated interest. of prior periods, For example if you invest 10 000 for one year at a rate of 6 percent you will earn. 600 interest At the end of the twelve month period you add this interest to your. initial investment and you re invest 10 600 Assuming the interest rate is again 6. percent for twelve months at the end of the second twelve month period you will have. earned 636 interest the additional 36 in interest is the 6 percent return on the 600. of interest from the previous twelve month period, This interest on interest on interest exercise creates enormous momentum for your.
money over the long term Using the above example of 10 000 invested at 6 percent. per annum after approximately twelve years the investment principal will have doubled. to 20 000 Therefore in the thirteenth year you will have earned 1 200 interest 600. on your original 10 000 investment and 600 interest on the 10 000 of interest you. have accumulated, The following table highlighting the experience of two investors over a 45 year. period perfectly illustrates why Einstein made the comment about compound interest. being such a powerful force, Investor B saved 2 000 every year for seven years from age 19 25 and allowed this. 14 000 to compound for the next 40 years, Investor A started saving 2 000 every year at the age 26 for the next 40 years. The example assumes that they saved into the same fund and received the same. annual rate of return,The Power of Compound Interest 8. As you can see they ended up with nearly the same amount of money at age 65 but. Investor B increased his investment by 66 fold compared to Investor A whose money. grew 11 fold,The Power of Compound Interest 9,The lesson to be learnt is start saving early.
There are no secrets to creating this long term wealth effect it is as simple as. SPENDING LESS THAN YOU EARN, I appreciate this is easier said than done Society has a much greater focus on. consumerism Those who are dedicated to a savings regime are in the minority Think. of all the subliminal messaging we receive everyday and it is all targeted at spending. Interest free loan for 48 months,Buy now pay later. No deposit no payments for so many months,Bad credit history no problems. Our operators are standing by now to take your order. Here s your pre approved credit card,Sale 50 70 off. It takes discipline to resist the continual temptation to spend The feel good chemical. serotonin your brain releases when you make a purchase is as addictive as alcohol. tobacco and illicit drugs the term shopaholic isn t as amusing as it first sounded. On the other hand saving is boring and there is no immediate chemical rush from. it The real buzz comes many years later when you begin to see your savings efforts. accumulating into a serious amount of money This is called delayed gratification. Unlike the spending quick fix the feel good effect of wealth creation is both sweet and. long lasting, The best idea I have heard of in relation to committing to the discipline of saving is.
by treating yourself as a monthly account, In a similar way of paying your electricity bill car rego phone bill regularly each. month make an allowance in your monthly budget to pay your personal Wealth. Creation account In the same way as non payment of your electricity or telephone. account would see these services terminated failure to pay your Wealth Creation. account will mean your future wealth plans will also be cut off. How much you need to save will depend on the amount you require in forty years. time As a guide to accumulate 1 million in today s value in 40 years you would. need to save approximately 160 per week this calculation is based on an after inflation. rate of return of 4 8 percent per annum, Initially finding a spare 160 per week may prove difficult The important discipline. is to start saving like an exercise regime or healthy eating lifestyle so it becomes habit. The Power of Compound Interest 10, forming Starting with 10 per week and gradually increasing it is better than not. starting at all, As your salary increases or you identify other areas in your budget that can be. trimmed you can increase your weekly savings figure. It is common knowledge that two people who earn identical amounts of money can. end up with two entirely different financial outcomes. One can overspend and be forever waiting for their next pay day while the other lives. within their means and gradually builds financial independence by simply spending less. than what they earn, How do you find those savings Here is an exercise from I can make you Rich by.
Paul McKenna, Write down a list of absolutely everything you spend your money on. Go through the list and assign an A B or C to each expense. A essential items,B important but not essential,C everything else. Allocate your budget to the As and Bs first Before you spend money on a C item. ask yourself Is this moving me closer or further away from my saving goal. Another way of identifying savings is to make paying yourself an A item i e essential. A Parent s Gift of Knowledge Vern Gowdie Contents Foreword 3 CHAPTER 1 The Keys to Build an Amazing Life 5 CHAPTER 2 The Power of Compound Interest 8 CHAPTER 3 Control Debt to Avoid The Tail Wagging the Dog 14 CHAPTER 4 The Best Investment You Can Make is in Yourself 33 CHAPTER 5 A Navigation Guide to the World of Investing 36 CHAPTER 6 Cash and Fixed Interest Investments 50 CHAPTER 7

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