Saturday, June 9, 2018

NEVER DEPEND ON SINGLE INCOME.

As our legend Investor Mr Warren Buffet  says that we should never depend on single income source, because in this world of  uncertainty, we don't know when our single source of income like job, business etc, stop giving income. So in our good time, when we are earning, we should start investing in good asset class from where we could get income in our bad time.

Mr Buffet says that he started investment in the age of 11, and he thinks that he got late. Because we should always start investment in our early age, as only Money is our best friend in our middle and old age, why should i mentioned  middle age, because now a days, risk of job lost in middle age persists more , and in that age, it is very difficult to get a new job, as no employer wants to give  a job to that age of person who is not so energetic and also new employer cannot  afford the previous salary structure, and not everybody is capable to do some  business, so only our investment which we have done in our early age can help us.

So to save money, we will have to control our expenses also.As Mr Buffet says


We should save minimum 30% of our income on regular basis, and it would be better if could be 40%.As our spend thrift habit makes us in problem when our income is reduced.

And we should have also some goals in our mind like Retirement, Dream Home, Children education etc and should stick with them till they are completed. Because without goals set up, there is a probability of breaking the investment.


So only investment can save us in case of job, business lost.So we should always start investment as early as possible.








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