Wednesday, December 8, 2010

"Money grows on the tree of patience"

Many people tend to make way too many changes to their financial plans. They see something on TV, they hear something at a wedding dinner, they get an idea and they are off acting upon the latest stock rumor.

Remember ~ compound interest is your friend. Too many "get rich fast" schemes fail. Most people have heard of the tortoise and the hare story. The two completed in a race and everyone was convinced that the hare will win beacuse of his speed. However, the hare was overly-confident and took a nap in the middle of the race, thinking that he can easily make a final dash to the finish line. In the end, the tortoise who just plodded steadily along, reached the finish line before the hare and won the race.

The moral: Start saving early, save often and never stop.

In the coming new year, I wish all of you Good Health and Wealth in abundance! Enjoy!