Wealth Inspirations From Chinese New Year

Asset - Wealth Inspirations From Chinese New Year

Good afternoon. Now, I learned about Asset - Wealth Inspirations From Chinese New Year. Which could be very helpful to me so you. Wealth Inspirations From Chinese New Year

Have you heard of Ang Pau? Ang Pau is a Chinese tradition during the Chinese new year. Habitancy who are married will use a ready made "small red envelope" to put in some dollars and give it to relatives / friends who are not married.

What I said. It shouldn't be the conclusion that the true about Asset. You check out this article for information about an individual need to know is Asset.

Asset

Base on the past, most Habitancy will receive 0 every year. This is something that only Chinese will have so some Habitancy might not have heard about it. Although it's a small amount of money every year, there's a magic in these "Ang Pau".

If you spend all your Ang Pau money into equity unit trust (let's use 12% as estimation), how much will you get when you are 25 years old?

It's a total of ,866.79!

This means when a Chinese graduate from university, he is capable to pay for a cheap house's deposit and buy his first house. He might rent out some of the rooms and stay in it. Before he starts his first job, he already owns a house with a small amount of passive income. This is a

Is that cool for a Chinese? No. It's not. The coolest thing in the whole part is the magic of combination interest.

This is not a privilege for Chinese only. There are 2 ways you can use the magic of compounding interest:

First, you use it to encourage your kids to start saving 0 per year. In order to save 0 per year, you will get your children to form a good habit to budget his expenses and not buying things with emotional influence. This solves most of the problems which young Habitancy face which is "spending more than what they earn" and "getting into huge debt problem".

Another way you can use the magic of compounding interest is that you start saving your own money and be a millionaire in the next 20 years. According to my calculations, you can be a millionaire in 20 years when you start investing 00 every month in unit trust that gives you a 12% every year return. saving 00 per month might not be easy for someone. If you have problem saving 00 per month, start a small and easy firm such as internet marketing that will give you a carport 00 per month.

Don't get addicted to make lots of money and start spending a lot and not saving. Financial success can not be achieved solely by making more money. Financial relaxation and success can be achieved only with the combination of making more money, spending less money, expanding current asset and good money management.

I hope you obtain new knowledge about Asset. Where you can put to use within your life. And most importantly, your reaction is passed about Asset.