Wednesday, August 1

Learning about mutual funds

As you may have read in my past posts, I am constantly looking for ways to increase my cash flow and save for my retirement fund. Freelance writers like me don't get the luxury of having a pension come retirement unlike corporate employees. I'm scared of what has to come, really. What do I have to call that's mine when I'm old and gray? Is waiting for support from my child and sharing mybhusband's pension my only options?

I just got home from an intimate meeting with a financial coach. One of the investment options that were introduced to me were mutual funds. She told me that saving moneyin mutual funds yield bigger interests than keeping my money in bank. I was skeptical because I don't know anything about investing. What got my attention was the fact that the bank earns the huge interest from investing my money in mutual funds. The solution, eliminate the middle man and invest in mutual funds.

I still have so much to learn about it and I'm reserving my next weekend for another session of financial coaching. There are still financial ideas to learn such as the X Curve and the Rule of 72 which is still as alien to me as the concept of ACH Risk. What I do know is I've taken the first step to financial freedom the Godly way.

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