Do I earn enough to become rich?
Just wondering, do I earn enough to become rich?
While we can’t answer to whether you’ll be a millionaire or billionaire, we do know that if you start saving now, at this time next year you’ll be richer than you are now.
In this video Dean discusses the discipline of spending less than you earn and the importance of regularly monitoring your Net Worth.
So today, we have 2 tools for you to use. The first being a simple Net Worth Calculator (ScoreCard) and the second being our Investment Slider to help show you the positive effects of compound interest (in your favour).
So knock yourself out and have a play with both of the tools & as always, Dean is here for a chat if you need some guidance.
1. ScoreCard
Here you can add in your Assets, Liabilities and Investments – this will provide you with your overall Net Worth position.
Your Net Worth position will put a stake in the ground and give you a number to measure your success for the future.
2. Investment Slider
This tool will show you the benefits of compound interest - when it’s in your favour.
You’ll be able to enter your timeframe, regular savings contributions and model likely scenarios based on these facts.
Online Financial Fitness Bootcamp
We’re also using this as an opportunity to invite people to sign-up to our FREE Online Financial Bootcamp series – going live in September – click below to pre-register for your spot.
Cant’ wait until the end of the week to see all the videos? Follow the links below.
Monday - What is Money Week?
Tuesday - How do I start a plan?
Wednesday - Do I earn enough to become rich?
Thursday - How to survive the remainder of Covid-19
Friday - When can I quit my job / retire?