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Old 02-22-2014, 03:51 PM
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Manage your fund, manage your life.

I want to share my thought...

hey guys, what's your most important thing in your life ? some people will answer God, Health, Family, etc. but there's one more thing that will ruin those things, what is that ? it's money

There's I wanna share with you what I call Financial Planning or Financial Budgeting.

From 100% of our income, it will ideally come to 6 pocket. It's called 6 jar of income :

1. Financial Freedom Jar.
This is the most important pocket, minimum of our 10% income must enter this pocket, and the money entered this pocket must never be taken back. except for a very emergency situation. Money entered this pocket should be considered lost, because this pocket is your eternal savings. Find a place to invest this fund in a place which offer low risk and have the highest return rate (remember, the keyword is LOW RISK). Don't invest in the deposit, mutual fund will be fine. If you can do it disciplined for about 5-10 years, you'll make fine amount of money.

2. Future Expenses Jar
Second most important pocket, ideally 10%-20% of our income enter this pocket. The fund entered this pocket is used for future expenses. Such as child education, dream vacation, etc.

3. Needs Jar
This pocket is used for live expenses. Depends on you, whether you are single or married, but try to not exceed 50% of your income.

4. Playing Jar
The fund in this pocket will be spent, can be used to go to the movies, vacation, or sport. We need an entertainment to be happy.

5. Lesson Jar
This pocket is used for personal development , such as buying books, join a seminar, etc.

6. Giving Jar
It's fully depends on your preference, but giving 10% of our income won't make us poor. We will be feel better when we help someone right ?

Of course, this is just my personal thought, the amount of each pocket may vary depends on your income and needs, I hope this share is helpful
 
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Old 02-27-2014, 01:31 PM
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Interesting post. Investing is definitely about chipping away a little at a time and also staying the course. There are some great books by Dave Ramsey on his investment strategies. Definitely worth checking out.
 
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Old 03-01-2014, 03:07 PM
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You can make jar 1 and 2 the same. You can put money in a roth ira and take out the money you put in at any time. That is not the money earned but the money you invested in the roth ira. Same goes for emergency fund people say to have 6 months worth of money but if you invest it you earn more money and can take out the principal any time.

I also try to invest in regular account not retirement account and only invest for income. This works good because i can use some of the income if needed.
 
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