"Value might fall but sure to come back up!"

Banker: Why put money in FD? You put money in this bond fund can make more money. About 5% per annum.

Sis: Is this 5% guaranteed?

Banker: Banks cannot say it is guaranteed one but if you look at the history, this fund is very good and have consistent returns.

Sis: But there is administration charge...

Banker: Don't worry, you will make more money, more than the admin charge.

Sis: Then, the value of the bonds might fall...

Banker: Value might fall but sure to come back up one. Don't worry.

The banker said "banks cannot say it is guaranteed" but how many verbal guarantees had she made in that short conversation?

This was my sister's recent experience. Was there any difference between this encounter and that from a year ago? Well, the only obvious difference between this encounter and that from a year ago was the bankers' genders.

Related posts:
1. Nobody cares more about our money than we do.
2. Know what is good for us.
3. A bad experience in a local bank.

Journey to financial freedom is not a race.

I get letters from readers of all ages. 

Obviously, all of them have different circumstances and they have different motivations for writing to me.

However, many are interested in achieving financial freedom on a sustainable basis. 

What does this mean? 




It means having regular and consistent passive income in sums big enough for them to stop working for an earned income, if they so wished it.

Questions such as, "Is this possible?" and "How is this possible?" are rather common. 

Of course, I have blogged about such topics often too.

Once in a while, I would get an email that is like a cry of despair. 

These emails are usually from people who are in their 40s like me or in their 50s. 

They are people who have yet to start or are "late" to start on their journey to financial freedom.




Although I have blogged about how we should start our journey to financial freedom as soon as possible and that the young have the advantage of time on their side, the best time to start our journey is always "now".


We might be 40 or we might be 50. It does not mean that because we are "late", we should give up.

Remember, we are not "late", we are only starting "later".


What we have lost in terms of time, we could compensate with a stronger determination to achieve financial freedom and by putting aside a bit more money each month, investing prudently in sound income generating assets.

Even if we are not able to generate sufficient income from our investments to replace our earned income, being able to have enough recurring passive income to take care of all our regular expenses by retirement is already an achievement. 

If we must delay our retirement by a couple of years to do this, so be it. 

Would we rather have at least this or nothing at all?




Don't be demoralised by how much someone in our age group has achieved. 

Don't envy people who have started the journey at a younger age. 

The journey to financial freedom is not a race.




Each of us have our own circumstances and priorities. What matters is that we achieve the goal of financial freedom. 

Some might get there faster. Some might be a bit slower. 

Everyone who arrives at the destination is a winner. There are no losers at the end point.

Unless severely disadvantaged, all of us can do it.

Believe it.



Related posts:
1. What is $1 million at retirement?
2. Achieving $1 million in retirement funds.
3. Save 100% of your take home pay. What?
4. Man collects rent from his boss.
5. 7 steps to creating passive income from stocks.