KC HUT

Automatic Wealth for GRADS.. and Anyone Else Just Starting Out

After reading this magnificent book, I think I am one more step towards my target Automatic Wealth for Grads… and Anyone Else Just Starting Out is not only for the graduates, but also those who are fresh into the working society.

There are some useful topics about generating more income by first performing in your work and other sources, then investing into the stock market and real estate. It also illustrates the concept of Compound Interest clearly, how investing at a younger age can give us massive returns. Take for example, a person at age 22 with an annual income of $30,337 invest 15% of his/her monthly income for a ROI (Return On Investment) of 13.2%. Assuming this person gets 4% of annual increment every year, he/she will make the 1st Million at the age of 46. It would be even much faster if the person gets more increment per year (or saves more) or captures higher ROI. Easier said than done? Perhaps.. but we will never know if we don’t try

I find that all the concepts might not be applicable to some of us but the general framework is there (after reading books from Robert Kiyosaki, Michael Masterson etc). Once again, this is a highly recommended book especially for people who are just starting out. Also available in the library

PS: Starting planning for your future!

Popularity: 4% [?]