Invest in Your Future - With Richard Cayne at Meyer

One of the first rules of investment to be ready for the future, as advocated by Richard Cayne at Meyer, is to pay yourself 10% of your monthly take home salary. For any individual who has ever dreamed of sailing smoothly through his/her old age, this 10% rule can be one of the wisest decisions that they take for the sake of their future.  The rule simply states to put aside 10% of your take home as saving/investment, before you start paying off bills, going for outings or even spending on your loved ones. However, this 10% has to come as a commitment to yourself, since the only person truly in charge of your finances and your future is YOU.

Richard Cayne at Meyer says that most people in their 20s do not pay any heed to savings or investments, and even if they do it is not treated as a commitment. In your 20s it is quite easy to take time and put off savings for later in life; however, Richard Cayne at Meyer says that most individuals are under the wrong impression. For instance, at 24 one might imagine retiring at about 55 years of age, leaving them with a good 30 years for saving and investment. However, considering that most individuals will be married by the time they’re in their 30s, this means post that time they will have other major responsibilities on their hands including paying for their children’s education, their food, clothing, medical, etc. Normally, such responsibilities will last them a good 20 years, as only post graduation will most children be able to pay for themselves, leaving you with only a handful of years of really saving for yourself. Richard Cayne at Meyer says that once you start earning, you most likely have only 10-15 years for personal savings with full saving capability if looking at age 55 if 65 years old as most are these days then 15-25years of savings.

Richard Cayne at Meyer says that simply saving that 10% of income will not lead to being financially secure in the future. This 10% needs to be invested further, as once you get married, family responsibilities will tend to take the front seat, and that amount will more or stagnate. One of the best ways to make your money grow is to allocate to the equity markets. Suppose, in your 10 years of being single, you accumulated about $100,000 and invest it into a vehicle targeting 7.2% compound interest. Richard Cayne at Meyer says that now you should apply the rule of 72 to know when you can expect to see that capital double itself. At the rate of 7.2%, applying the rule of 72, you can expect to see this capital double in 10 years time. This basically implies that by the time you’re 39 you would have $200,000, at 48 years of age $400,000 and at 57 you shall have $800,000. A little more effort and resuming the 7.2% rule, or taking the help of a financial consultant professional like Richard Cayne at Meyer, you could have about $1 million by the time you’re 60.  Invest for your future today says Richard Cayne Meyer at Meyer.

Richard Meyer Cayne having worked in Tokyo Japan for over 15 years is currently Managing Director of Meyer International which forms part of the Meyer Group of companies and is a 100% subsidiary of Asia Wealth Group Holdings Ltd a publicly traded financial services company in London UK.