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Personl Wealth - Essay Example

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Personal wealth can be broadly classified into three categories namely liquid assets, loans or mortgages and personal possessions. In cases where a person owns a…
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Personl Wealth
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Personl Wealth

Thereafter, it is important to identify suitable financial vehicles that align current and future market factors with the expected outcomes besides evaluating the risk accompanying each investment opportunity.
I feel that the easiest way to generate personal wealth that can take care of my retirement needs would be to invest a percentage (say 5%-10%) of my monthly salary in an reputed and long-running pension fund that has a good track record of performance. Otherwise, it is also useful to invest a part of monthly income in long-term certificates of deposit (CDs) that offer a stable return during the investment period. Direct investment in low-risk bonds or equity markets is also possible although this would demand extensive knowledge of the relevant markets.
The option of investing in real estate must also be considered. Investing in this sector is relatively simple, straightforward and perhaps most practical n terms of building some personal wealth. While real estate markets do have their own inherent risks (like the recent housing market crash due to the financial crisis in the United States), (include author) argues that the market has the best capability to appreciate over the years and yield good returns over the years.
As mentioned earlier, investing personal savings in the financial markets is more risky and requires active involvement of the investor through trading, purchasing options to hedge the risk etc., which require knowledge and experience to generate results besides resulting in further expenditures (broker commissions, minimum margins etc.). The best way to invest in these markets is to obtain the services of a brokerage firm that has a good history of providing positive, stable and cost-effective returns to its customers.
Mutual Funds expert, Adam Bold, discusses a ten step approach to personal finance that help both experienced and novice investors understand the ... Read More
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