You can move on to your list of goals the creation of retirement capital with a pension of at least 40% of your current income. It is hardly worth counting on a decent state pension in russia, so you should think about your own pension on your own and as early as possible. Another goal that is often overlook is financial protection . The two main pieces of financial protection are a reserve fund of 3-6 months of income and, in some cases, life and property insurance. For businessmen, having a reserve fund is critical, since the main income is usually unstable and subject to fluctuations and cash gaps. Analysis of expenses and income be sure to analyze your expenses and income for the month and year.
This is the first place to start making
A personal financial plan, and you ne it in Netherlands Email List order to determine how much you can realistically leave to achieve financial goals. The magic and often recommend number is 10% of income , which should be direct towards long-term goals. As a rule, people who have never kept records of expenses and incomes have a rather poor idea of where the money really goes. For a better understanding, it is recommend to keep records of expenses and income for at least two months. You can do this manually, in a spreadsheet, or use one of the many mobile apps. Passive where does the money go? The main thing in accounting for expenses and income is not the creation of a “chronicle” of your expenses, but planning, analysis and control.
The key concepts in this process are regularity
It is worth planning expenses Doctors Email List and incomes at least once a month. It is better to analyze once a week. When analyzing, it is useful to think about cost optimization, as well as about increasing income. A very useful exercise. Analysis of assets and liabilities in addition to the income statement, all companies have a balance sheet. And you should also have your own personal balance, I.E. A list of all assets and liabilities . Assets are cash and non-cash money, real estate, cars, stocks, bonds, and so on. Liabilities – loans, debts, obligations. It is worth looking at where “In the market” your return on assets is and how much your liabilities are costing you.