Tuesday, 8 September 2015

The 7 Laws of Gold – The Proven Pathway to Financial Independence

Financial Independence
1. Pay yourself first always. (“Start thy purse to fattening.”)
A part of all you earn is yours to keep. It should be not less than a tenth no matter how little you earn. It can be as much more as you can afford. “I found the road to wealth when I decided that a part of all I earned was mine to keep. And so will you.”

2. Live below your means. (“Control thy expenditures”)
Budget your expenses before income arrives so that you may have money to pay for your necessities, to pay for your enjoyments and to gratify your worthwhile desires without spending more than nine-tenths of your earnings.
3. Make your money work for you. (“Make thy gold multiply”)
A man’s wealth is not in the coins he carries in his purse; it is in the income he buildeth, the golden streams that continually floweth into his purse and keepeth it always bulging. Put each coin to work so that it may reproduce its kind even as the flocks of the field and help bring to you more income, a stream of wealth that will flow constantly into your purse. Invest your money and let it work for you via real estate, businesses and fixed deposit.
4. Protect and insure your wealth. (“Guard thy treasures from loss.”)
The first sound principle of investment is security of your principal. Guard thy treasure from loss by investing only where thy principal is safe. Insure your properties against disaster and be not misled by thine own romantic desires to make wealth rapidly.
5. Own your home. (“Make of thy dwelling a profitable investment”)
Own thy own home and build others to serve as streams of income. No man’s family can fully enjoy life unless they do have a land wherein children can play and wife raise rich herbs to feed her family.
6. Have a retirement plan. (“Insure a future income.”)
Provide in advance for the needs of thy growing age and protection of thy family. Work towards financial independence as no man can afford not to insure a treasure for his old age, no matter how prosperous his business and investments may be.
7. Invest in yourself. (“Increase thy ability to earn.”)
More interest in my work, more concentration upon my task, more persistence in my effort, and, behold, few men could carve more tablets in a day than I. The more wisdom we learn, the more we earn. The man who learns more of his craft shall be richly rewarded. Cultivate thy own powers, to study and become wiser, to become more skillful, to so act as to respect thyself. Thereby shalt thou acquire confidence in thyself to achieve thy carefully considered desires.

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