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“Good debt is debt taken out with care to buy income-producing property or shares that are expected to increase in value over time.”
― 10 Simple Steps to Financial Freedom
― 10 Simple Steps to Financial Freedom
“It is better to have a hen tomorrow than an egg today. Thomas Fuller GNOMOLOGIA”
― Making Money Made Simple
― Making Money Made Simple
“It’s Just Not Logical Compound interest also gives results that don’t look at all logical. Think about two young people who want to start investment programs. One starts at 18 years of age and faithfully invests just $1000 a year. At age 30 she stops this particular program so she can buy a house and start paying it off. She leaves the original investment to run along on its own with the earnings compounding. The other investor dithers around until age 30 and then starts to invest too. However, to make up for lost time, he puts away $2000 a year till age 65. Who do you think would end up with the most money if they both averaged 10% per annum? Is it the woman who invested $1000 a year for 13 years and then let the balance compound for 35 years, or the man who invested $2000 a year for 35 years? Amazing as it may seem, the woman would have $690,000 for a total investment of $13,000; the man would have $542,000 for a total investment of $70,000. Can you see why it happens? Because after 13 years her $1000 a year has grown to $24,500 and the compound growth on that in the 14th year alone is $2450 a year. That is almost 25% more than the man was contributing. Accordingly he can never catch her, only because she started first.”
― Making Money Made Simple
― Making Money Made Simple
“The key offsets for retirees, at time of writing, are:
> LITO, which makes income up to $20,452 tax free > SAPTO, which applies only to those over pension age, up to an income of $50,119 (singles) and $83,580 (couples combined) > LMITO, a temporary offset similar to the LITO, but applying up to $90,000 of income. The combination of LITO and LMITO mean that anybody can earn $21,884 a year tax free even before reaching age pension age.”
― Retirement Made Simple: Everything you need to know
> LITO, which makes income up to $20,452 tax free > SAPTO, which applies only to those over pension age, up to an income of $50,119 (singles) and $83,580 (couples combined) > LMITO, a temporary offset similar to the LITO, but applying up to $90,000 of income. The combination of LITO and LMITO mean that anybody can earn $21,884 a year tax free even before reaching age pension age.”
― Retirement Made Simple: Everything you need to know
“When the pupil is ready the teacher will appear”, and that has certainly been true for us.”
― The Beginner’s Guide to Wealth
― The Beginner’s Guide to Wealth
“Aaron Stern refers to the dangers of the “must-have-it-now mentality”. “To attain emotional maturity, each of us must learn to develop two critical capacities: the ability to live with uncertainty and the ability to delay immediate gratification in favour of long-range goals.”
― Making Money Made Simple
― Making Money Made Simple
“You never know what opportunities are waiting for you, but they’re almost certainly not waiting for you in a hidden room in your house. Get out there, get a bit uncomfortable, show the world what you’ve got, and see how it responds.”
― The Beginner’s Guide to Wealth
― The Beginner’s Guide to Wealth
“The Raiz app is a great tool for this because it automatically links your savings to your spending. When you shop using a debit/credit card, the app will round up your purchases and invest this “spare change” automatically into a portfolio of your choice.”
― 10 Simple Steps to Financial Freedom
― 10 Simple Steps to Financial Freedom
