Creating wealth, one day at a time!

Financial independence is your reward for success.

Leaders love not worrying about future financial objectives and savings; they have enough to focus their daily lives on!  Most people would agree that having enough money is one sign of success.  Financial independence allows you and your loved ones greater flexibility and the ability to help those less fortunate.

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Learning to save is a habit; it can be understood or ignored, but it has proven to be a great success over the long term.  Children who have been given guidance on saving will be better equipped to take care of themselves when they become adults.  To demonstrate that savings are significant and vital to your future independence and freedom, consider the following:

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Save long-term and enjoy compound interest!

Whilst saving money is a good habit,  it also helps by automating the process of saving.  Leaving it to your judgement to when to start saving can be fraught with problems!  The needs of today always seem to trump those of 10 or 20 years from now.  By automating the amount you put away weekly or monthly, you will create more money simply by not thinking about it.  Regular saving disappears from your day-to-day needs and can surprise you when you check your savings account.  It also gives you a good feeling knowing that your savings accumulate with a minimum of effort from yourself.

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The critical element of any savings scheme is the time you save and when you discover the magic of compound interest.  Although saving for a specific item, whether a new house, car or memorable holiday, the longer the period of savings you commit to, the more money you will accumulate.  This is particularly difficult for younger people, although life is funny because the younger you start saving - the more money you will get! 

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If a 30 yr old saves £1,000 per month for 30 years and can achieve a 5% annual return on their money - they will have three times the amount that a 45 yr old with the same 5% annual return on their money for 15 years,  assuming they both would like to retire at aged 60. (£797,266 versus £258,942).  The 30yr old would achieve an annual annuity, on current UK Government annuity rates, of £30,317 against £9,814!  Which pension income would you prefer?  So do not underestimate the importance of saving for the long term - discover the magic of compound interest and learn the good habit of saving!  Long-term savings prove you are serious about accumulating money over the long term as an investment for when your earnings move towards a fixed income.  Creating Wealth, one day at a time - is not a bad habit if you want to be a Leader!

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Don't delay or dither; start saving now and for longer than you planned

if you want to maintain your freedom and independence.