All in Passive income and retirement
A few weeks ago in the Money Magicians group on Facebook, I started the #FinancialFriday talks where we talk about economics and investments and have started sharing all that on the blog.
Last week South Africa was downgraded to junk status and I think it’s important to know what that means in terms of investments and your portfolio.
When I was growing up I would see my parents and aunts and uncles all with salary slips and on there would be deductions for funeral policies, death cover, insurance, retirement. I'm sure some of y'all know.
It took me years to understand that these were actually investments and this was their portfolio and was because it didn’t make them less broke or lead to financial freedom.
What was the deal with that?
It’s not that people don't invest; it's their approach to investing that holds them back. They buy whatever they are told to buy by the many financial advisors that come to their companies or by their friends.
They join the pension scheme at work; buy the funeral policy their friend is selling, but what's the strategy behind all this?
As important as our emotions and thoughts about money are, so is taking financial action. Unfortunately financial freedom doesn’t come from having a good paycheck but from making money work for us.
Talk about investments and investment portfolios and most people immediately think of the stock market.
But the reality is there are many ways to build an incredible investment portfolio.
You can keep delaying your dreams and give excuses on why you stopped dreaming or you can say F it, learn on the fly, fail, get up, fail...
Investing Is a Long Term Game Time can be your worst enemy or your best friend when it comes to investing.
