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CHARGES IN MUTUAL FUNDS

CHARGES IN MUTUAL FUNDS

FUND MANAGER MANAGES YOUR MONEY.
SUPPORTED BY A TEAM OF FINANCIAL ANALYSTS AND MARKET EXPERTS.
OBVIOUSLY, THEY DON’T DO THIS FOR FREE.
THE MUTUAL FUND COMPANY CHARGES FOR THEIR SERVICES.

 

1 EXPENSES RATIO

MUTUAL FUNDS MANAGE YOUR MONEY AND IN RETURN, THEY CHARGE FEES CALLED AN EXPENSES RATIO.
EXPENSE RATIO IS CHARGED ON ANNUAL BASIS.

 

2 STAMP DUTY

THE STAMP DUTY IS CHARGED AT THE RATIO OF 0.005% ON THE INVESTMENT VALUE.
STAMP DUTY CAME INTO ACTION RECENTLY, FROM 1STJULY, 2020.

 

3 SERVICE FEES

THERE ARE MANY ONLINE PLATFORMS TO INVEST IN MUTUAL FUNDS.
THERE COULD BE A TRANSACTION FEE OR SERVICE FEE THAT MAY OR MAY NOT BE APPLICABLE BY THE PLATFORM THAT YOU MAY BE USING.

 

4 EXIT LOAD

WHEN AN INVESTOR EXITS FROM A MUTUAL FUND SCHEME WITHIN A SHORT SPAN, AN EXIT LOAD HAS TO BE PAID.
THIS FEE IS CHARGED IN ORDER TO DISCOURAGE INVESTORS FROM OPTING OUT IF THE SCHEME TOO EARLY.

 

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HOW TO INVEST BY AGE

HOW TO INVEST BY AGE
20-30
STOCKS 70%
BONDS 15%
R ESTATE 10%
CASH 5%
30- 50
STOCKS 65%
BONDS 20%
R ESTATE 10%
CASH 5%
50- 60
STOCKS 55%
BONDS 27.5%
R ESTATE 12.5%
CASH 5%
60+
STOCKS 40%
BONDS 35%
R ESTATE 15%
CASH 10%

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BECOME A MILLIONAIRE AT 30 BY DOING THESE 8 THINGS

BECOME A MILLIONAIRE AT 30 BY DOING THESE 8 THINGS

FOCUS ON EARNING

THE FIRST STEP IS FOCUS ON INCREASING YOUR INCOME IN INCREMENTS & REPEATING THAT.
EXAMPLE: ASK FOR RAISE & START A SIDE HUSTLE.

DEVELOP MULTIPLE STREAMS OF INCOME
65% OF MILLIONAIRES IN THOMAS CORLEY’S
STUDY HAS AT LEAST 3 STREAMS.
EXAMPLE: REAL ESTATE, INDEX FUNDS, & BUSINESS OWNER.

SAVE TO INVEST, DON’T JUST SAVE
BY INVESTING YOUR “SAVED” MONEY, YOU LIVE BELOW YOUR MEANS & FOCUS ON INCREASING YOUR INCOME.
EXAMPLE: MAKE AUTOMATIC (WHEN PAID) TRANSFERS INTO AN  S&P 500 INDEX FUND.

CHANGE YOUR MINDSET ON MONEY
GETTING RICH BEGINS WITH THE WAY YOU THINK & WHAT YOU KNOW ABOUT MAKING MONEY.
EXAMPLE: RICH PEOPLE KNOW MAKING MONEY IS AN INSIDE JOB, SO KEEP LEARNING.

INVEST IN YOURSELF
WEALTHY PEOPLE ARE VORACIOUS READERS. WARREN BUFFETT DEDICATES 80% OF BIS WORKING DAY TO READING.
EXAMPLE: READ, TAKE COURSES, HIRE A COACH & EXERCISE.

DITCH THE STEADY PAYCHECK
KEEPING JUST A STEADY PAYCHECK & YEARLY PAY RAISES IS THE SLOWEST PATH TO PROSPERIT.
EXAMPLE: WHILE WORKING 9-5, CREATE A BUSINESS, BECOME A BUSINESS PARTNER, INVEST & DIVERSIFY YOUR MONEY.

SET & VISUALIZE COMPLETING GOALS
CREATE A CLEAR GOAL & THEN A SPECIFIC PLAN FOR HOW TO ACHIEVE THAT GOAL.
EXAMPLE: COMMIT TO ATTAINING WEALTH BY WRITING DOWN & VISUALIZING YOUR GOALS.

SHOOT FOR $ 10 M, NOT $ 1M
GRANT CARDONE SAID,”THE SINGLE BIGGEST FINANCIAL MISTAKE I’VE MADE WAS NOT THINKING BIG ENOUGH.”
EXAMPLE: WHATEVER YOUR GOALS IS, INCREASE THEM 10x AS YOUR “ STRETCH GOAL”. PUSHING YOU TO WORK EVEN HARDER.
 

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THE 21 DAYS GROWTH CHALLENGE

THE 21 DAYS GROWTH CHALLENGE
IT TAKES 21 DAYS TO CREATE A NEW HABIT
GOAL 1: SAVE $20 PER DAY.
GOAL 2 : INVEST $5 PER DAY.
GOAL 3: READ 24PAGES PER DAY.
AFTER 21 DAYS, YOU WILL HAVE
SUCCESSFULLY $420 SAVED
 YOU HAVE $105 INVESTED
 FINISHED READING A GROWTH BOOK


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