I am a pack rat when it comes to money. Don't get me wrong, I do love spending and buying stuffs I need and want. But, I also like watching my bank account grow. My previous job pays good money. But when I reached the point when my health and sanity is more important than the money, I thought, "There is got to be another easy way to becoming a millionaire". So I quit. I said goodbye to that rat race.
After the smoke cleared, I began to assess where I am financially. I did manage to save more money than I expected. All of them kept safe inside my trusted bank in regular savings and time deposits. I also attended seminars on business, investments and personal finances to pass most of my idle time looking for my path to personal wealth. There are a lot of institutions out there offering seminars in personal finance and investments and, surprisingly, a few offer them for free. From these seminars, I came to realize I have been wasting time. Time for my hard earned money to work for me and grow. I realize that in all those years I kept my savings safe in the bank, I have not been investing at all. I have not been aware of inflation.
Inflation measures the rise in the cost of goods; it is the rate of which the purchasing power of money falls by if not invested. It is the idle man’s money’s enemy. It’s been biting away the value of my saving all along. This question stuck in my mind.
What would be the value of my lifetime savings say, years from now?
The value of money depreciates through time. Today's million is tomorrow's 1 peso. From now on, no more ignoring Mr. Inflation! If I am going to really keep my money safe, I want to put my money to an investment that can knock out inflation.
Is it too late to start now? I don't think so. I am still in early second quarter of my life so there still time. I am continuing this journey in financial education. This blog is my journal in the world of personal finance and wealth management. I want to be my own financial broker.
Photo By 401K
