Guard Your Wealth Against Loss

The fourth cure for a lean purse is to “guard your treasures from loss by investing only where the principal is safe, where it may be reclaimed if you desire so, and where you will not fail to collect a fair rental”

“The first sound principle of investment is security for thy principal.   The penalty of risk is probable loss.   Study carefully, before parting with thy treasure, each assurance that it may be safely reclaimed.   Be not misled by thine own desires to make wealth rapidly.”

Well, you have paid yourself first,  control your spending and with that, you have more to save and invest and have learned how to make your money work hard for you and learned how to multiply your wealth through compounding and good investment decisions. The next logical step is to safeguard the wealth you have created from loss.

Seek the advice of experts or professionals whom are trained in the area of financial planning and investments. If you are sick, do you ask your gardener for medical advice? No, you seek the help of a medical doctor. Likewise in the area of personal finance, you seek the help of trained financial planners to assist you with your life goals of wealth accumulation, wealth protection, and wealth distribution issues.

Building your wealth is often more of what you keep than what you make. So after you have worked hard to save or earn it, you don’t want to lose it. You need to find investments that give you reasonable returns with minimal or no risk to the principal.  In the quest for instant gratification and getting rich quick, many fall prey to the many “ Get Rich Scams ” or High returns Investment opportunities.  When we become greedy, we always find ourselves getting our fingers burned. 

Forget about going after those high returns promised by market gurus and their “hot tips.” And don’t bother with those  startup businesses or investment opportunities you see advertised in the classified ads, either. Be wary of such schemes. If it’s too good to be true, it probably is.

If you’re going to take risks and invest your money, then make sure you pay the price first by investing in yourself  through learning and growing yourself and have the education to know how to guard and protect your assets. Only you can keep your best interests at the forefront. Your savings control your future; treat them like it.

To your success and financial abundance.

By Michael Tay   www.michaeltay.com

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