Tag: financialplanning

Early Retirement Techniques: How to Get Financially Independent Faster

~ Abdul Majid Mohd Gani

While early retirement may seem like a distant dream, it is possible to achieve it with careful planning and the appropriate tactics. This article will examine techniques to help you become financially independent and retire early as well as the idea of early retirement. What Is Early Retirement? Early retirement often refers to the decision … Continue reading Early Retirement Techniques: How to Get Financially Independent Faster

Retirement and the Trouble Getting There.

woman raising her both hands
~ Abdul Majid Mohd Gani

The concept of retirement is a fairly new one. Before the advent of the industrial age, people worked as long as they were alive or able to. Today, retirement is seen as a significant life transition that involves leaving the workforce and usually marks the beginning of a new phase in one's life. But how … Continue reading Retirement and the Trouble Getting There.

Why Should Paying High – Interest Debt Be a Priority?

Graffiti on an old brick
~ Abdul Majid Mohd Gani

Paying off high-interest debt should be a priority for several important reasons: Interest Costs Accumulate Quickly: High-interest debt, such as credit card debt or payday loans, often comes with very high annual percentage rates (APRs). This means that a significant portion of your monthly payment goes toward paying interest rather than reducing the principal balance. … Continue reading Why Should Paying High – Interest Debt Be a Priority?

Importance of Cash Flow and Net Worth Analysis:

person counting cash money
~ Abdul Majid Mohd Gani

Cash flow analysis is the process of tracking the movement of money into and out of your accounts over a specific period. It's like taking a financial snapshot of your income and expenses. Here's why cash flow analysis is crucial, especially during retirement: Budgeting and Planning: Cash flow analysis provides a clear picture of your … Continue reading Importance of Cash Flow and Net Worth Analysis:

Common Financial Mistakes That People Make

~ Abdul Majid Mohd Gani

We all make mistakes in life, but some of them can have a lasting impact on our finances. I know this from personal experience, as I have made some wrong financial choices that cost can cost you a lot money and heartache. The biggest mistake is taking on too much debt. If you want to … Continue reading Common Financial Mistakes That People Make

10 Most Common Money Mistakes People Make.

Money laundering
~ Abdul Majid Mohd Gani

Dan Ariely, a well known behavioral economist, has written extensively on the topic of money mistakes and human irrationality. Here are ten money mistakes that individuals commonly make, based on Ariely's work and general observations: Impulse buying: Succumbing to the temptation of immediate gratification and making unplanned purchases, often driven by emotions rather than rational … Continue reading 10 Most Common Money Mistakes People Make.

Retirement Series – How to Retire Confidently

Free old man holding walking
~ Abdul Majid Mohd Gani

Retiring confidently requires careful planning and preparation. Here are some steps you can take to help you retire with confidence: Set clear retirement goals: Define what you want your retirement to look like. Consider your desired lifestyle, financial needs, and any specific retirement goals, such as travel or hobbies. Create a retirement budget: Develop a … Continue reading Retirement Series – How to Retire Confidently

Retirement Series – Evaluate Your Expenses

Expensive receipt
~ Abdul Majid Mohd Gani

One of the most important tasks that you must do at any age, but especially if you are approaching retirement, is to evaluate your expenses. Here are some ways you can do it effectively: Track your expenses:  What you cannot measure, you cannot control. The first step to evaluating your expenses is to track them. … Continue reading Retirement Series – Evaluate Your Expenses

Why You Must Invest and Why Some People Don’t.

pexels-photo-730647.jpeg
~ Abdul Majid Mohd Gani

There is always an element of risk, but investing is good for several reasons: Possibility for better returns: Compared to merely saving money in a bank account, investing has the potential to produce larger returns. While investment returns are not guaranteed, traditionally the stock market has offered greater long-term returns than savings accounts. Investment can … Continue reading Why You Must Invest and Why Some People Don’t.

Having the Right Mindset About Money.

photograph of person holding black leather wallet with money
~ Abdul Majid Mohd Gani

Some of the better mindsets to have when it comes to money include: Being mindful and intentional with spending: This means being aware of where your money is going and making conscious decisions about how to use it. It also means avoiding impulse buying and overspending. Setting financial goals: Having specific goals in mind, such … Continue reading Having the Right Mindset About Money.