How to become a Millionaire

Being a millionaire is not an easy. It takes a lot of knowledge and financial planning. One of the best advice I ever head was from John Maxwell, he is one of the richest man on earth and has been giving financial advises, I will quote what he said, "To become a Millionaire, try to do this simple steps: 1. Have a Plan; 2. Negotiate; 3. Pay in cash." Today I will be talking about HAVING A PLAN:

Means you have to be know how many percent of your income or earnings will be placed in your savings and expenses. Save at least 20% of your income. If it comes to savings know where to place that savings, are you going to put in the bank? Equity? or Stocks? Bank is the easiest way place your money, but don't you know it has the least interest income. In the Philippines, bank rates is less than 1.5% per annum and you are not allowed to withdraw from your time deposit for a certain period of time. How about equity or stocks? Most people don't have the knowledge how to put their money in these kinds of investments. But if you plan to grow your money up to 10% per annum, talk to a financial advisor. Ano plano mo? Usap tayo. Harriet Dale Sagorsor Financial Planner PhilAm Life