Brian Feroldi on LinkedIn: 22 Lessons I've Learned About Money: 1: The more complicated the… | 24 comments (2024)

Leading into this holiday season, DöXA wishes all some peace and happiness as 2023 comes to a close. To help this, some financial perspective attached. Advisers, as you know, we remain open throughout the holiday season (save for public holidays) for the emergency case that may have been forgotten or that may pop up.#financialplanning #financialadvisors #paraplanners

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Day 3🔍💡 Understanding Compound Interest: Unlocking the Power of Growth! 💰✨Hey LinkedIn fam! Today, let's dive into the fascinating concept of compound interest and how it can help us grow our finances over time. 📈💸Compound interest is a magical force that allows our money to multiply and work for us. It's all about earning interest not only on the initial amount we invest or save but also on the accumulated interest itself. Let's break it down with some definitions and examples:1️⃣ Principal: This is the initial amount of money you put into an investment or a savings account. It's like the seed from which your money tree grows.2️⃣ Interest Rate: The interest rate is the percentage you earn on your principal over a specific period. It's like the speed at which your money tree grows.3️⃣ Compounding Period: This refers to how often the interest is calculated and added to your principal. Common compounding periods include annually, semi-annually, quarterly, or even monthly.Now, let's see compound interest in action with a simple example:Imagine you have $1,000 (your principal) and you decide to invest it in a savings account with an interest rate of 5% per year (that's your interest rate). If the interest is compounded annually, here's how it grows over time:Year 1: $1,000 + 5% interest = $1,050Year 2: $1,050 + 5% interest = $1,102.50Year 3: $1,102.50 + 5% interest = $1,157.63As you can see, each year, the interest is calculated not only on the initial $1,000 but also on the accumulated interest from previous years. That's the beauty of compound interest!Over longer periods, compound interest can have a significant impact on our finances. It's a powerful tool for saving and investing, allowing us to grow our wealth steadily.So, my fellow professionals, understanding compound interest is like unlocking the secret to making money work for us. Let's harness its power and make wise financial decisions to secure a brighter future. 💪💼💰Sammy Purple Finance coach#CompoundInterest #FinancialGrowth #SmartInvesting #WealthBuilding

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Investing now instead of later can have a tremendous impact on your financial future. Let me explain why: compound interest.Compound interest refers to the interest earned not only on your initial investment but also on the interest it accumulates over time.Let's illustrate this with an example. Imagine you deposit $1,000 into an account that offers a 1 percent annual interest rate. After one year, you would earn $10 in interest.Thanks to the power of compound interest, in the second year, you would earn 1 percent on the new total of $1,010, which includes your initial deposit and the interest earned. This translates to $10.10 in interest for that year.In simpler terms, starting your investments earlier gives your money more time to grow and multiply.If you wait too long to begin investing, you risk missing out on significant returns. This can lead to regret and stress about your financial future.In essence, time is a crucial factor in investing, so it's essential to start as soon as possible.Even small investments made early on can accumulate substantially over time, thanks to the power of compound interest.Trust me, you'll be grateful for starting early when you see the results.Please note that this post assumes an average annual rate of return of 10%.#CompoudInterest #Investing #Wealth #MoneyTips #MoneyManagement #Finance #McGinnisTeam #MoreThanaMortgage

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20s are your financial goldmine: you have high earning potential, low responsibilities, and the power of time on your side. This video, by Neel Panchal, equips you with the essential tips to invest wisely, avoid pitfalls, and build a secure future.Key takeaways:·Invest 60-70% of your income:Maximize your earning potential early.·Budget & set goals:Know where your money goes and what you're aiming for.·Beware lifestyle inflation:Don't let your expenses balloon with your income.·Ditch risky trading:Invest for the long term, not quick wins.·Plan for future expenses:Factor in homeownership, marriage, and retirement.·Debt for short-term, invest for long-term:Use debt strategically. ⚖️·Start early, be consistent:Time and compounding are your allies.By your 40s, you can achieve financial freedom! This video is your roadmap. Watch and take control of your future today!𝗠𝗿. 𝗡𝗲𝗲𝗹 𝗣𝗮𝗻𝗰𝗵𝗮𝗹, is an 𝗔𝗠𝗙𝗜-𝗿𝗲𝗴𝗶𝘀𝘁𝗲𝗿𝗲𝗱 𝗠𝘂𝘁𝘂𝗮𝗹 𝗙𝘂𝗻𝗱𝘀 𝗱𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗼𝗿DISCLAIMER:This video is for educational and informational purposes only. Mutual funds & Stocks talked about in this video are purely used as examples. This video is not meant for advisory/recommendation purposes.#PersonalFinance #Investing #FinancialFreedom #KamleshPanchalFinancial

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You work hard for your moneyBut, Does your money work equally hard for you?Saving money is a crucial step, but it's only the first step on the path to financial success. To truly build wealth and secure your future, you must put your money to work through smart investments. 💼💰Imagine you tuck away your hard-earned money under the mattress or in a low-interest savings account. Over time, the eroding force of inflation takes a toll, gradually diminishing the purchasing power of your money. Here's where investing becomes your savior. By investing in assets like stocks, real estate, or mutual funds, you harness the power of compounding and the potential for higher returns. An asset class that has historically outpaced inflation, helps your money grow at a rate that preserves and even enhances its value over time. 📈Let's take a closer look at the numbers: Say you have Rs. 1,00,000 today. If you leave it untouched, in 5 years, with an annual inflation rate of 6.5%, its value will dwindle to about Rs. 73,000. However, by making wise investments, you have the opportunity to not only counter inflation but surpass it. 📊💼Investing wisely requires research, knowledge, and a clear strategy tailored to your financial goals and risk tolerance. Seek guidance from personal finance professionals, consider a diversified portfolio, and remember that patience is a virtue. 💡📚So, while saving is the first step, investing is the powerful next step toward financial freedom. Make your money work for you, and pave the way for a secure and prosperous future. 💪🌟#InvestingWisely #FinancialGrowth #MakeYourMoneyWork #GrowthQuest---Liked this?Repost ♻️ if you find it usefulFollow me Diipesh, hit the 🔔You'll get notified on my next post.

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The pearls of wisdom this book provides regarding money and our behavior surrounding it pairs well with the wisdom that my dad has espoused and lived for much of his life…Well worth the read….——A couple key quotes and related action points:——1. "Wealth is hidden. It's income not spent. Wealth is an option not yet taken to buy something later. Its value lies in offering you options, flexibility, and growth to one day purchase more stuff than you could right now." - Action Point: Shift your mindset from conspicuous consumption to building wealth as a means to secure your future and gain financial flexibility. Emphasize saving and investing wisely for long-term growth.2. "The single most important variable to how much wealth you build is how long you can stay invested in good times and bad." - Action Point: Practice patience and discipline in your investment approach. Avoid emotional reactions to market fluctuations and stay committed to a well-thought-out investment strategy.3. "Doing well with money has a little to do with how smart you are and a lot to do with how you behave." - Action Point: Recognize the impact of your behavior on financial outcomes. Focus on developing healthy financial habits, like budgeting, avoiding debt, and sticking to a financial plan.4. “The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays." - Action Point: Focus on financial freedom and the ability to live life on your terms. Set meaningful financial goals that align with your values and create a plan to achieve them.5. "You have to measure your life by the good you do for others. That's what money is for. It's not for buying toys; it's for reducing pain and increasing happiness." - Action Point: Cultivate a sense of purpose in your financial journey. Consider how your wealth can positively impact others, whether through charitable giving or supporting causes that align with your values.——#PsychologyOfMoney#FinancialPsychology#MoneyMindset#FinancialIntelligence#WealthBuilding#FinancialFreedom#MoneyManagement#PersonalFinanceTips#FinancialWellness#MoneyHabits

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Investing now instead of later can have a tremendous impact on your financial future. Let us explain why: compound interest.Compound interest refers to the interest earned not only on your initial investment but also on the interest it accumulates over time.Let's illustrate this with an example. Imagine you deposit $1,000 into an account that offers a 1 percent annual interest rate. After one year, you would earn $10 in interest.Thanks to the power of compound interest, in the second year, you would earn 1 percent on the new total of $1,010, which includes your initial deposit and the interest earned. This translates to $10.10 in interest for that year.In simpler terms, starting your investments earlier gives your money more time to grow and multiply.If you wait too long to begin investing, you risk missing out on significant returns. This can lead to regret and stress about your financial future.In essence, time is a crucial factor in investing, so it's essential to start as soon as possible.Even small investments made early on can accumulate substantially over time, thanks to the power of compound interest.Trust us, you'll be grateful for starting early when you see the results.Please note that this post assumes an average annual rate of return of 10%.#CompoudInterest #Investing #Wealth #MoneyTips #MoneyManagement #Finance #MarriedwithaMortgage

Would You Rather? Invest your money in stocks and potentially earn more OR Keep it in a savings account and have less risk but lower returns.When it comes to investing your hard-earned money, would you rather put it in stocks and potentially earn more or keep it in a savings account for stability with lower returns? It's a question that many of us face. Investing in stocks offers the potential for higher returns and the opportunity to grow your wealth over time. However, it also comes with risk and market fluctuations. On the other hand, keeping your money in a savings account provides a safe haven with minimal risk, but it may offer lower returns in the long run. Consider your financial goals, time horizon, and risk tolerance when making this decision. Remember, there is no one-size-fits-all answer. It's important to assess your individual circ*mstances and seek expert advice to make the best choice for your financial future.🌈 Looking for a way to boost your income so you have fewer worries about money? Start your online business now and pave the way for a more fulfilled and happier future. Sign up to my website and let me show you how! 💪😊

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Rule #1 for Financial Triumph: Multiply Your Money Over TimeIn the fast-paced world of finances, the dream of multiplying your money is often accompanied by visions of overnight success or striking it rich with a single stroke of luck. However, the real key to lasting financial triumph is encapsulated in Rule #1 – You Have to Earn It Over Time.The Illusion of Quick Wins:In a world obsessed with instant gratification, it's tempting to seek shortcuts or chase after the illusion of quick financial wins. Whether it's cryptocurrencies, high-risk investments, or get-rich-quick schemes, the truth is that genuine wealth is built steadily, not hastily.The Power of Compound Growth:Earning money over time isn't just about putting in hours at your day job; it's about harnessing the incredible power of compound growth. Albert Einstein once referred to compound interest as the eighth wonder of the world, emphasizing its potential to turn small, consistent efforts into substantial financial gains.Strategic Investing for the Long Haul:Successful wealth multiplication requires strategic investing. Diversify your portfolio, explore low-cost index funds, and adopt a long-term perspective. The stock market's historical upward trend is a testament to the effectiveness of patient, strategic investing.The Importance of Financial Education:To multiply your money over time, arm yourself with knowledge. Stay informed about market trends, investment opportunities, and financial strategies. Continuous learning empowers you to make informed decisions and adapt to the ever-evolving economic landscape.Entrepreneurship and Side Ventures:While earning a steady income is crucial, don't underestimate the potential of entrepreneurship and side ventures. Building a business or investing in additional income streams can accelerate your journey to financial independence.Conclusion:In the pursuit of financial success, Rule #1 is non-negotiable – you have to earn it over time. Embrace the power of compound growth, make informed financial decisions, and consider the long-term benefits of strategic investing. Remember, true wealth is not a sprint; it's a marathon. By following Rule #1, you'll not only multiply your money but also secure a stable and prosperous financial future. But don't go it alone! Consult with the experts at Xpand Property – a team of savvy investors who know every dollar counts. Ready to invest with confidence and gain the upper edge? Connect with us today at hi@xpandproperty.com.au or call 0411 331 185.