{"id":205,"date":"2019-10-03T00:59:43","date_gmt":"2019-10-02T15:59:43","guid":{"rendered":"https:\/\/bluebook.mylifehouse.com\/?p=205"},"modified":"2022-10-24T15:40:17","modified_gmt":"2022-10-24T06:40:17","slug":"7-steps-to-financial-freedom-step-5","status":"publish","type":"post","link":"https:\/\/bluebook.mylifehouse.com\/7-steps-to-financial-freedom-step-5\/","title":{"rendered":"Step 5: Invest For The Future"},"content":{"rendered":"<h3>Invest For The Future<\/h3>\n<p>&nbsp;<\/p>\n<p><strong>Investing Is Planning For The Future<\/strong><br \/>\nRather than living month to month or paycheck to paycheck, it is wise to have a plan for the future.<br \/>\nIn general wealthy people have a financial plan and poorer people have no plan.<\/p>\n<div  class=\"x-accordion-group\" ><div class=\"x-accordion-heading\"><a id=\"tab-662d4ffe51efc\" class=\"x-accordion-toggle collapsed\" role=\"tab\" data-x-toggle=\"collapse-b\" data-x-toggleable=\"662d4ffe51efc\" aria-selected=\"false\" aria-expanded=\"false\" aria-controls=\"panel-662d4ffe51efc\"><i class='x-framework-icon x-shortcode-accordion-icon' data-x-icon-s='&#x2b;' aria-hidden=true><\/i><span>Matthew 25:19-21<\/span><\/a><\/div><div id=\"panel-662d4ffe51efc\" class=\"x-accordion-body x-collapsed\" role=\"tabpanel\" data-x-toggle-collapse=\"1\" data-x-toggleable=\"662d4ffe51efc\" aria-hidden=\"true\" aria-labelledby=\"tab-662d4ffe51efc\"><div class=\"x-accordion-inner\">(19) \u201cAfter a long time the master of those servants returned and settled accounts with them.<br \/>\n(20) The man who had received five bags of gold brought the other five. \u2018Master,\u2019 he said, \u2018you entrusted me with five bags of gold. See, I have gained five more.\u2019<br \/>\n(21) \u201cHis master replied, \u2018Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master\u2019s happiness!\u2019<\/div><\/div><\/div>\n<p>What is Jesus expecting us to do with our money?<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Are You Growing Your Money?<\/strong><br \/>\nIf you simply save your money in a bank account, in the future it will not be worth as much due to inflation.<br \/>\nIt is our job to educate ourselves on different ways to invest and grow what God has blessed us with.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Name Your Investment Areas<\/strong><br \/>\nSome common areas that you will save or invest in<br \/>\nare:<br \/>\n-Buying a house<br \/>\n-Sending kids to college<br \/>\n-Retirement<br \/>\nStudies show that when you give a name to your savings (vision) you are much more likely to stick to it.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Should I Save Or Invest?<\/strong><br \/>\nIn general if you won\u2019t use the money for 5 years or longer, investing will give you a greater return than a savings account.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>What Types of Investments Are there?<\/strong><br \/>\nIf you are investing for the long term and assuming an average amount of risk, the most common forms of investing are &#8220;mutual funds\u201d.<br \/>\nRiskier forms of investing are individual stocks, and safer forms of investing are bonds or bank deposits.<br \/>\nOther types of investing are starting or buying a business or buying real estate.<br \/>\nWhichever type of investing you do, you should always do your own research.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Mutual Funds<\/strong><br \/>\nHistorically the S&amp;P 500 Index Mutual Fund has returned an average 11~12% per year for the last 40 years.<\/p>\n<p>Dave Ramsey recommends to diversify your mutual funds into 4 categories:<br \/>\n-Large Cap (Blue Chip or Large Companies)<br \/>\n-Medium Cap (eg. S&amp;P 500)<br \/>\n-Small Cap (eg. Russell 200)<br \/>\n-International<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Investment Accounts<\/strong><br \/>\nEach country usually has tax free accounts for long term investing which you can use to avoid taxes.<br \/>\nIn Japan the most common accounts are:<br \/>\n-Standard Securities Account &#8211; withdraw anytime, Tax (~20%) on gains<br \/>\n-NISA Account &#8211; withdraw anytime, 5 years Tax Free Investing, No Taxes on Gains<br \/>\n-Junior Kids NISA &#8211; withdraw only at 18 years old, 5 years Tax Free Investing, No Taxes on Gains<br \/>\n-iDeco Retirement Account &#8211; withdraw only at 60 years old, Tax Free Retirement Investing, No Taxes on Gains<br \/>\nEach country usually has tax-free securities accounts to incentivise saving and investing so please look into those for yourself.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Buying A House<\/strong><br \/>\nIt is good to have at least 5% and preferably a 10% or more down payment to get the best interest rate for a home loan.<br \/>\nDon\u2019t buy a house if you still have other debt, as you may run into trouble when you don\u2019t have enough money to pay for repairs or taxes.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Retirement <\/strong><br \/>\nA good rule of thumb is to invest about 15% of your income for the future when you will not work.<br \/>\nYou will need to have saved 10-12 times your desired income at retirement, to be able to live on drawing 8% from your investments.<br \/>\nTake care of your own future, and if the government helps with a pension etc., consider that a bonus.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Retirement Investment Goals<\/strong><br \/>\nIf you invest $100 each month into mutual funds returning 12% each year, in 40 years that will become over $1,000,000!<br \/>\nIf you simply saved that same amount without investing, it would be $48,000.<br \/>\nThe earlier you begin investing, the longer time it has to compound.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Kids College<\/strong><br \/>\nAs college is expensive, it is a good idea to begin saving when kids are born.<br \/>\nYou can calculate how much you will need, and start investing now to reach that goal.<br \/>\nFor example, to reach $70,000 in 18 years, you will need to invest $200 \/ month for 5 years and then let it grow for another 13 years.<br \/>\nOr you could invest $100 \/ month for 18 years to reach $70,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Invest For The Future &nbsp; Investing Is Planning For The Future Rather than living month to month or paycheck to paycheck, it is wise to have a plan for the future. In general wealthy people have a financial plan and poorer people have no plan. What is Jesus expecting us to do with our money? &nbsp; Are You Growing Your &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11],"tags":[410],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Step 5: Invest For The Future - | The Blue Book<\/title>\n<meta name=\"description\" content=\"Investing Is Planning For The Future. 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