There is one key question that usually stops us on the way to our dreams: what did you do with your extra income, the profits from your business, that freelance job you did, that unexpected sale, or your savings?
We usually spend it all in the wrong way and invest it in a way that doesn’t really pay off. All of us have dreams to achieve, but few of us set goals to achieve them and think carefully when we find that occasional banknote in the washing machine.
Many people do not like football, but they do like the experience of living out that event in all its splendour, on and off the field. Have you ever imagined being there? Surely you have. That is why OctaFX, the globally recognized broker that offers trading services to help people achieve their financial goals, provides three investment goals to help you plan and implement a personal financial and investment strategy. If you are equipped with those tips, making your investments work and buying you a few World Cup tickets won’t be hard.
Financial security, or a rainy-day investment
Life is not always an open book. No one can guarantee you won’t face unexpected expenses or financial losses, be it the global financial crisis or a lay-off tomorrow.
An additional reserve for at least two or three months will help you feel more secure about your financial future. To put it simply, the basis of an incredible financial strategy is to save and always have the ‘cushion’ for unexpected events and more if you dream of travelling to the World Cup.
Yes, dreams are great and get even better when you make them come true. Still, in reality, you should also secure your equity and think about the future, as not all of us will be entitled to a retirement income. There are always ways to invest and have a permanent income at an advanced age and not end up empty-handed, and that is why a well-thought-out investment strategy for a permanent retirement income is needed.
This applies not only to…