What would you do if you receive $1 million dollar tomorrow?

I read an article about what you should do when you win the lottery. It was written by a well-known financial planner based here in Brisbane.

Now, setting aside the lottery part, just imagine ourselves in that position. What would you do if you were to receive $1 million dollar tomorrow?

If it was me, perhaps I would:

– Leave the money in FD-like accounts until I graduate.
– After graduation, I’d take out some to pay for my CPL/IR and Flight Instructor Rating Course.
– At the same time, acquire some investment properties and also set up a share portfolio.

It sure is nice to daydream huh? 😀

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During an economic crisis, is it wise to invest in education? (Studying Financial Planning & Journalism)

With the exception of all the trouble we have faced in the past couple of years, I consider myself lucky to be facing such a severe financial crisis at an early age. Why? Well, I am able to at least learn a thing or two that may assist me in my future endeavours.

Anyway, setting that aside, let’s talk about investing in education. By that, I mean, furthering your academic qualifications as well as skills.

I have read quite a few articles supporting the notion of expanding your knowledge and skills during this troubled times, and I have to say, I am in full support of that idea.

Apart from university, I am also doing a couple of courses by distance education. One is Diploma of Financial Services (Financial Planning) and the other is Certificate of Professional Freelance Journalism.

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The Automatic Millionaire by David Bach

Title: The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich
Author: David Bach
ISBN: 978-0-141-01992-5
Number of pages: approximately 195 pages

The Automatic Millionaire is an easy-to-read book written by David Bach. The book is actually catered for UK and US readers but principles laid out in the book can in fact be copied and adjusted in accordance to your own circumstances.

The book is basically about how you can just dump the usual “budget-adherence” strategy and adopt a strategy that is much easier to follow instead, to achieve financial freedom.

What strategy is it? Well, make everything AUTOMATIC. For example, making contributions to your “nest egg” automatic by implementing Standing Instuctions (SI) on your salary account.

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