Are you well prepared for your future?

Are you well prepared for your tomorrow? A wake up question that might help you to understand the importance of being financial literate. What is your goal in life? What is your life status when you get 55 years of age? Hoping that you will not just defend on your children when you get retired. Imagine if you are officially retired and you are not prepared. What will happen is that, you will not able to feel being retired. You might have a savings, but how long it will last? You are not earning an income anymore. In that case, you will start defending in your children. Instead your children is building their wealth, their income is divided to support you. So they are now called in the "Sandwich  Generation". Your children might struggle for their preparation as well. 

How are you going to prevent this kind of situation? Financial Literacy is the key for your financial freedom. There is a saying "The best preparation for tomorrow is doing your best today". Starting today, learn how to Invest. First, invest in your knowledge, Learn about financial education. There is a lot of way how you can learn it by reading books, reading an articles regarding financial education, joining forums, watching videos in YouTube. Get insured and protect your self in unexpected expenses. Build an emergency fund at least six month of your monthly income. Invest your money, let money work for your. Build or buy an assets that generate passive income for you. The more asset you have, the more you are close to financial freedom. 

Kinds of Asset that you can start.

1, Paper Asset - Mutual funds, UITF, Stock,etc.

2. Businesses

3. Real Estate Rentals

Starting today, if your are working or doing any kind of business, you must allocate at least 10-20% of your income for those assets, and the remaining is your expenses. The Formula will be SAVINGS/INVESTMENT - INCOME = EXPENSES. Discipline your self to make it a habit. Live below your means and you will save more money for your assets. Think before you buy. Identify the NEEDS and the WANTS. Focus on your goal. Think what future waiting for you when you get retired.