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Pointers on Personal Finance and Investment Personal finance and investments has quite a few foundations. These include growth, protection, management as well as security stability. In fact, security is at the heart of investment growth. Personal finance and investment is an area that is very wide. However, this article attempts to address the fundamentals of the subject largely security because of the belief that financial independence and investment begin with security. A good starting point would be to define what we mean by security. For the lay man it implies that you have auto, health, disability and house insurance along with life insurance. These insurance policies will ensure that if something say a disaster happens to your loved ones, they will be taken care of. If you are the head of your family and you are in charge of making most of the key decisions, ensure that you leave behind detailed instructions which your family can follow. These details include insurance policies’ locations and names, the contacts of your insurance brokers and any other related info. You should also remember to incorporate every detail of the policy advice such as the account numbers and the expenses involved. You should also see to it that the paper work that is essential is stored in a safe place like a safety deposit box at the bank, at work or at home or in a trusted pal’s house. Do not keep these copies at only one place due to some certain risks like fire at your house or office.
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Along with the things mentioned above, you should keep an emergency fund. This can be the area where money is kept and from where you can write checks. This is the cash that you can use when you have a financial crisis or a natural disaster. Make sure that you’ve saved up at least six months’ salary or if you can have the ability to do a year, it would be better. It is possible to accomplish this by adding gift money to the account and putting aside some little money at the end of each month. It is crucial that you write down a will which shows what you would want done in the event you pass away. It will have references to your opinions about life end options, your personal property, finances and other things like life support.
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You’ll have a piece of mind when you understand that the family is secure and safe, letting you put money into the stock market. The anxiety about losing cash and risks often times keeps investors. There isn’t any guaranteed success in the stock exchange. In some instances, investors will fail and lose lots of cash in the process. Don’t invest all your money in the stocks because of the dangers associated with it.