Everyone would like to have a comfortable life but many people don't believe this is possible .
All you need are things: First, the right attitude. Second, patience and the third is belief.
A net income of Ksh20,000 can be the beginning of this journey - considering that a journey of a thousand miles starts with a single step.
A tenth of whatever you earn is yours to keep. This is what George S. Clason tells us in his book 'The Richest Man in Babylon'. A tenth of Ksh20,000 is Ksh2000.
Put your target age to be 40 years.
So, let's say you start saving the Ksh2000 every month at the age of 30. This will mean you will save for 10years! Wow... The interest rate will be 7%pa at the beginning and will vary depending on the inflation rate. Where will you be after 10 years?
After doing my calculations at at a constant rate of 7% p.a, your total amount at the end of 10 years of saving will be Ksh352,208. You will have earned an interest of Ksh110,208!
You can comfortably pump this money in an active investment while still saving for the long term!
Require advice on how to go about this kind of saving? Just click on email and we will be honoured to reply.
Always remember that 'akiba haiozi' - Swahili saying meaning savings never rot.
Put your target age to be 40 years.
So, let's say you start saving the Ksh2000 every month at the age of 30. This will mean you will save for 10years! Wow... The interest rate will be 7%pa at the beginning and will vary depending on the inflation rate. Where will you be after 10 years?
After doing my calculations at at a constant rate of 7% p.a, your total amount at the end of 10 years of saving will be Ksh352,208. You will have earned an interest of Ksh110,208!
You can comfortably pump this money in an active investment while still saving for the long term!
Require advice on how to go about this kind of saving? Just click on email and we will be honoured to reply.
Always remember that 'akiba haiozi' - Swahili saying meaning savings never rot.
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