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aws账号(www.2km.me)_Insight - Nine factors besides ROI for financial freedom

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Yap Ming Hui: The truth is, return on investments (ROI) is overrated, and has become too much of an obsession for the middle class who are looking to grow their wealth. In my opinion, ROI is just one of the many factors that will contribute to your financial freedom.

WHEN it comes to investing, return on investment (ROI) is one of the most talked-about term.

In fact, many people are of the opinion that ROI is the single most important factor when it comes to investing. In their minds, the better the ROI, the higher their returns, and the more quickly their money can grow.

This is also one of the reasons why many books, webinars, and investment “gurus” drum up content to share the “best-kept secrets” to profit from the narrative.

The truth is, ROI is overrated, and has become too much of an obsession for the middle class who are looking to grow their wealth.

In my opinion, ROI is just one of the many factors that will contribute to your financial freedom.

In this article, I’m going to highlight nine other factors that are crucial in achieving your financial freedom:

> The point you start acting

The first and one of the most overlooked factors is the age or the point in life in which you start investing. The more time your investments have to perform, the more time they have for compounded interest to build up.

Therefore, the earlier you start investing, the better the position you will find yourself in. When time is on your side, you can even go for less riskier investments with lower or consistent performing ROI, to achieve your plans for financial freedom.

For example, if you start investing in your 30s, there’s still plenty of time for your money to grow and compound even with a low to moderate ROI. We are talking about additional 30 investing years until retirement.

In contrast, if you start investing when you’re in your 50s, you will have only about 10 years for your wealth to grow. This could get stressful, especially when you’ll be forced to look for investments with higher ROI to make up for the lost time.

> Your savings habits

Building a good savings habit is crucial. The more money set aside for savings on a monthly basis, the more you will accumulate to fund your financial goals.

When you have consistently saved, the added security will give you choices, ie, there’s more than one way to grow money without taking unnecessary risks with high ROI investments.

> Your household income

Household income in this context refers to the income that both you and your spouse make. The more your household income is, the more access you have to save and contribute towards financial freedom.

Compared with a single-income household, it is definitely easier when both spouses are working. Therefore, focusing on increasing your income through multiple means is just as crucial, if not more crucial, than chasing a high ROI.

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