Download A Man Is Not a Financial Plan: Investing for wealth and by Joan Baker PDF

By Joan Baker

A truly sensible, simple advisor to funding making plans written in particular for ladies.

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Find something you would prefer to have a share of than whatever it is that you are inclined to buy. If property is your thing, perhaps every latte or magazine represents a ‘brick’ in your investment property! 42 A man Financial Plan PGS 2/7/07 11:09 AM Page 43 Or simply pay yourself first If you really don’t want to do the budgeting thing (the B word) and haven’t got the discipline to watch your consumption closely there is another way! Women have two ways of saving: some put aside any money that is left (the surplus) when they have bought what they need or want, while others save a set amount each pay period.

Her teens learnt the hard way very quickly—brilliant! Maximising your income is all about creating a surplus, no matter how large or small your income. If you are committed to creating wealth through investment then you will look hard at the income side as well as the expenditure side. For many, it is easier to find an extra dollar of income than to find an extra dollar to save. • Consider your options about getting some additional income and take action on at least one possibility. ’ 50 A man Financial Plan PGS 2/7/07 11:09 AM Page 51 PART 3 THE PRINCIPLES OF INVESTING It’s not luck There are only three investments Buy investments for their yield Markets are emotional Manage your risk You make money when you buy Borrow smartly Time matters Superannuation Getting good advice 53 56 61 67 76 90 100 108 121 128 A man Financial Plan PGS 2/7/07 11:09 AM Page 52 This page intentionally left blank A man Financial Plan PGS 2/7/07 11:09 AM Page 53 It’s not luck Investment is not about rolling the dice or going to the casino or betting on the horses.

We have become used to living up to, and even living beyond, our means. We consume more of everything than we need, or even really want, in some cases. Most of us are overspending—on food, clothes, holidays and so on. Every business in the land is telling us to spend, spend, spend—and they are backed by huge marketing budgets. Many people spend money they don’t have on things they don’t need or don’t really want just to keep up with or impress a whole lot of people they don’t rate or even care about.

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