So much good news this week!
I finally issued monthly checks for my mutual fund investment equivalent to 5%! Increasing my long-tern investment of 10% (at present) to 15% is one of my goals for 2011 and it’s already claimed!
I was planning to postpone it until middle part of the year but after reading this article entitled 5 Secrets of Successful Savers (click here), I felt I had to do it.
In other words, I had to ACT and MOVE!
Here’s an excerpt from the article:
5 Secrets of Successful Savers
1) They started slowly. Overcoming the initial inertia that prevents many of us from saving is often the hardest step. That's why starting by saving just a small amount can get you on the path towards bigger savings. Nicole Mladic, a 31-year-old communications director in Chicago, couldn't afford to put away a big chunk of her salary when she was in her mid-20s, so she started saving 2 percent. A few months later, she raised it to 3 percent, then went to 4 percent, and eventually reached her goal of 10 percent. Today, her net worth is over $90,000.
I finally issued monthly checks for my mutual fund investment equivalent to 5%! Increasing my long-tern investment of 10% (at present) to 15% is one of my goals for 2011 and it’s already claimed!
I was planning to postpone it until middle part of the year but after reading this article entitled 5 Secrets of Successful Savers (click here), I felt I had to do it.
In other words, I had to ACT and MOVE!
Here’s an excerpt from the article:
5 Secrets of Successful Savers
1) They started slowly. Overcoming the initial inertia that prevents many of us from saving is often the hardest step. That's why starting by saving just a small amount can get you on the path towards bigger savings. Nicole Mladic, a 31-year-old communications director in Chicago, couldn't afford to put away a big chunk of her salary when she was in her mid-20s, so she started saving 2 percent. A few months later, she raised it to 3 percent, then went to 4 percent, and eventually reached her goal of 10 percent. Today, her net worth is over $90,000.
It’s a great start indeed!
I have a question about additional investment in mutual funds. If I invest additional Php1000 monthly, should I include sales load fee in the computation? I hope if it's not too much to ask, can you write about the step-by-step procedure in investing mutual funds. :-)
ReplyDeleteHi Shine!The mutual fund company will deduct the sales load fee from your investment. Sales load fee ranges from 1% to 3.5% depending on the type of mutual fund. If you invest Php 1,000.00 and if the sales load fee is 3.5% or Php35.00, your net investment is Php 965.00.
ReplyDeleteThanks for the suggestion! I will write a step-by-step procedure on how to invest in mutual funds.