Financial Freedom SG

Get Rich Slowly is a blog that is a must read for people who wants to know more about saving and investing. It is one of the first blogs that I read using Google Reader to find out what other people are thinking on attaining financial freedom.

I saw this article that resonated with me, titled "Fumbling in the Dark". It talks about the journey of the author J.D. towards learning about personal finance and moving from debt laden to debt free and become financially free.

Being without savings to tide one over during times of difficulties is akin to jumping out of the plane without a parachute.

Without a disciplined saving programme to put aside a part of your salary towards your own retirement is like jumping out of the same plane 30, 20, 10 or 5 years later (depending on which category you fall under) without the same parachute when you are older and probably less likely to be able to change your financial situation materially unless you strike it big in a lottery.

Do you want to leave it to chance?

Save at least 10%, if not more of your salary each month by putting it to another account. You can look at a previous article on "10 Ways to Save Your Money" to learn more about different ways you can look at to start a savings programme.

The earlier you start to save and then to invest, the more the magic of compounding will make it seem that you have struck lottery.

As Albert Einstein once said, "The most powerful force in the universe is compound interest."