My last two "financial intelligence" emails have covered the importance of having a simple money management plan and the power of compound interest. Today I am going to cover the main types of investments, so you can start to determine where they might fit in to your financial future?
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Today I would like to talk about the most exciting part of financial intelligence and learning how to manage your money, "the power of compound interest", and how this can generate long term wealth for you and future generations. As Einstein famously stated "Compound interest is the eighth wonder of the world".
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Last week I introduced the subject of financial intelligence and over the next 5 or 6 weeks I will walk you all through the key topics that are central to this especially important subject. This series of weekly emails will be a brief summary of what I have learnt over the last 30 years of running a business and owning and developing numerous properties, as well as my key learnings from several books and podcasts.
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This week I would like to introduce the topic of financial intelligence, which is defined as the skills and knowledge to manage personal finances. This is one of life's most important topics which is largely overlooked by your education or training, but it has the power to change your life.
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There is a common misconception that builders run projects on huge margins and that most building companies make excessive profits. I have made a long term successful career out of building and as a member of the Master Builders Association Victoria for over 28 years, nothing could be further from the truth.
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"Don't wait until you've reached your goal to be proud of yourself. Be proud of every step you take towards reaching that goal", Source unknown.
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"The challenges of finishing jobs on time", by outlining a few of my key thoughts about finishing building jobs.
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We all know that to grow and evolve we need to make changes, but even to make small changes to our daily routine and work tasks is scary and difficult. Changes take determination and effort and are conscious decisions that an individual must make for themselves.
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"Without initiative, leaders are simply workers in leadership positions", Bo Bennett.
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I truly believe that you must consistently use checklists and systems to succeed as a tradesman or a builder.
"The only way to build a complex system that works, is to build it from simple systems that work", Kevin Kelly.
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