LAWS ON BUILDING PERSONAL WEALTH

STRATEGIES THAT WORK

1.) Start early (Start right now!) Its not how much you save, but how early you start saving. Or investing



2.) Plan at least 5 to 10 years ahead, When she turned 21, Sharon Cuneta took financial control of money earned since her first record, “Mr. DJ,” was released several years earlier. By all accounts, the singer/actress has since managed her money well- spending less than what she earned, investing wisely her surplus funds, and planning a more than comfortable future for herself and for her daughter, KC Concepcion, that included regular trips abroad and schooling in the best possible schools. At any given point, she knows how much she is worth.

Today, Cuneta has two other daughters, both of pre-school age, which she has now included in her financial plans and Concepcion is studying in Paris.

3.) Get College covered (refer to no.2) and please remember that tuition fee is only 30% of total college cost; the other 70% is for misc. fees.

4.) Hedge against long-term disability. Get an accident and health insurance. Your money amassed should be enjoyed, and not used to pay for hospital bills.

5.) Get a life insurance policy. Your loved ones shouldn’t be financially displaced in the event of your untimely death.



6.) Keep it simple

7.) Keep your asset allocations current (ie: make savings automatic)

8.) Live below your means (earn more-spend less)

9.) Never buy on credit

10.)Don’t rely on your instincts; they’re probably wrong.