One of the things I’m still battling with on my financial journey is building an emergency savings fund with 6 months’ salary in it.
My focus thet last few years was to pay off debt and start building an investment portfolio, which I’ve done really well.
But the emergency fund?
Not going so well at all.
I don’t consider my investments in endowments and unit trusts, emergency funds. To me they're long term investments, for other things.
For the last 2 years I've been blogging about paying off debt and saving, but now that my debts are all paid up, I want to focus more on creating creating wealthy, building an investment portfolio and living with purpose.
This week we launch #WealthyMoneyTV, which is a personal finance/ emotional intelligence talk show where I interview a bunch of experts to help us all understand how to create wealth.
In this week's show I talk to Chenine Gouws, my financial advisor about saving for retirement.
A 1979 study asked Harvard MBA graduates the following question:
“Have you set clear, written goals for your future and made plans to accomplish them?”
The study found that:
~ Only 3% of the students had written goals and plan
~ 13% had goals but they weren’t in writing
~ 84% had no goals at all
Ten years later the same group of students were interviewed and the results were fascinating...
