Many would remember the first job and pay they had. You looked at the money and wanted to buy something. Sometimes that ‘something’ meant you had to save money.
For many, this was their first real introduction into managing finances. When they finally got the ‘real’ job and were able to properly save, wealth creation was underway.
The initial phase of someone starting out in the work force may be about putting together savings and holding onto more cash than before. Superannuation payments may have already started and with it, wealth creation.
As someone’s life changes due to marriage, starting a family and others, so to does wealth creation plans. This may mean beginning to, or, increasing payments to regular investments or looking to purchase a first home. This may eventually lead to expanding a portfolio with managed funds or direct shares investment. Whatever the next plan, early investment into wealth helps.
At each step of your wealth creation, you could find yourself vulnerable to the unexpected.