Live Well Within Your Means

Live Well Within Your Means

Ok post #2, it all started many years ago with the Wealthy Barber, and save the money, all it said was... "Invest early, and in a few years,
you will be a millionaire..." well it said more than that, but that is the basis. It doesn't give a lot of insight, such as The intelligent Investor - Benjamin Graham (very good read)
or books by Warren Buffet, Gordon Pape etc.

Get an investment started... don't do a budget, and don't worry about how much you make. Once started, forget about it. Start by putting $50 a month in a balanced account. Most
have a decent return, higher than a money market account, and much better than a savings account. If you are Canadian, and most of what I publish will only pertain to Canadians... put this in a RRSP account. Talk to you banker about this.

So here is the calculatiion. $50 a month over a 10 yr stretch, at the average 10 year rate for the Royal Bank Balanced Account will net...

Avergage interest on investment 8.2%

10yr return = $9,155.30

If registered, you will net 26-40% of this back on your taxes as well. Appoximate value = $2700

Your total value of savings plus tax returned cash would = $11,700

Ya... nice chunk of change... yes it is this easy...

Next post I will show you where to get the $50 from, no matter what your income.