I wonder how many people will I attract with this title. *grin*

In my previous post, I’ve talked about acquiring more assets and minimizing the purchase of liabilities. It is one of the methods to build up your own fortune.

But how do you actually begin on this never-ending journey especially if you have limited fund…and you think you are quite caught up in the so-called “rat race“? Hmm…sounds familiar eh? I think I’m describing myself. LOL.

What I’m planning to do is quite simple…. Save a minimum of 10% of my monthly salary (before the tax) and put 60-70% of that amount into mutual fund. Mutual fund, according to Robert Kiyosaki, is meant for people who are quite caught up in the “rat race” and who dare not take the risk of investing in speculative investments – stock, real estate, etc.

Since I am quite a risk taker myself (did not take part in the speculative investments due to the fact that I don’t have sufficient fund), I would prefer to go for equity fund and not bond.

Once I feel I have enough fund from this mutual fund investment, I would venture into speculative investments. Do bear in mind though, our world is currently undergoing a tremendous change. It’s a bullish market out there…and a slight mistake can cause a pretty big damage. Do know what you are doing before you venture in.

If all goes well….these speculative investments will help build up my wealth. I’m hoping that I will be financially independent before the age of 30 (very very challenging thing to do). I need to find a way to pay off my loans n commitments…to get myself out of the “rat race” before I can actually start my own business.

Well, for now, I’ll just have to stick close to my money and put my limited edition $$$ in the low-risk areas. Once I have the proper amount of savings…i will go for the higher risk options. High risk, high return. Low risk, low return. πŸ™‚

To be honest, I have no right whatsoever to provide any form of advice to all of you. I am still learning and this is what I think I should do. Do drop me some comments to let me know how you feel. πŸ™‚

p/s…i know the actual stuff will be much more complicated than this…but well, we have to begin somewhere right?Β