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Peace Of Mind!

Discussion in 'Snippets of Life (Non-Fiction)' started by nuss, Jun 28, 2022.

  1. DDream

    DDream Finest Post Winner

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    Thanks @MalStrom,
    I am aware that my bank based investments use these, but never bought it seperately. I will explore it.
     
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  2. Thyagarajan

    Thyagarajan IL Hall of Fame

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    I endorse your views. You are IL specialist for savings and sound finance planning.

    Markets have been fluctuating wildly
    and those who can invest their surplus despite inflation
    could make windfall profits in a few months or by next FY.
    MANY fundamentally strong bluechips available at historical low
    in Dow & NSE stocks.
    Thanks and Regards.
     
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  3. Thyagarajan

    Thyagarajan IL Hall of Fame

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    :hello:I am envious knowing your back ground as narrated by you from time to time in your various posts since you joined IL fraternity. I am extremely glad of your progress that was akin to my only beloved sister who too suffered a lot which stands narrated in

    Getti Melam - Supraja - An Apple Of My Eye

    A debt free company sure to make enviable gains and reward better its shareholders in future too. Most of investments in equities made in debt free companies invariably tend to grow rapidly in later years and much faster than its nearest competitor.

    Similarly a debt free family too will provide for more happiness to all members of family now and in future too. Inter alia, this could stand for better bonding among siblings and peace of mind for entire family.
     
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  4. SGBV

    SGBV IL Hall of Fame

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    Congratulations @nuss
    You are on the right track. Peace of mind is the key to happy life. It has to come from within. As you have rightly explained in your post, to each their own and we should not always depend on what others do or advice us to do.
    What is the point of investing in a billion dollar project, and spending sleepless nights on worrying about the loan & mortgages?

    Ditto to what you have quoted above. I am very much same as you are. It is not boring, but it is the happening life. A simple, yet happy & contented life is the best life.

    Exactly. Nothing can beat that.

    I always wanted to own a house of my dreams (It is a villa with a garden & a pool in my case) and a reasonable car, a steady saving and a business that can make revenue before I turn 40. It seemed simple when I started earning, but as time passes by, meeting your ends meet became difficult and I had to pull it through single handedly with a group of dependents on my shoulder. That's when I realized, surviving the tide itself a success, forget about being successful otherwise.
    However, life changed after sometimes, and I was able to achieve everything what I wanted before I turned 40.

    This is when I realized the importance of having a peaceful mind, and making happy memories in the second half of your life. Life is very simple, it is us who complicate everything.

    Exactly:
    I invested almost all my 15 years of earning to build my dream house & the business back in Sri Lanka. Now that, we had to move out of the country, and start everything from the scratch. But it doesn't mean my dream house ceased to be mine. It will remain our family home forever.
    We have given it for rent, and that gives us additional income.

    I am open to start another investment or another mortgage journey in the new country. But this time, the pressure is much less. Whatever we chose will be just extra.
     
  5. nuss

    nuss Finest Post Winner

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    @DDream- As @MalStrom said- if your extra money is your emergency fund or you think you'll need it soon, think about CD or high-interest saving accounts (online banks). If you want to invest, meet a financial advisor who can help you set up an account. Your bank has advisors who can help with ETFs or index funds. If you are eligible for ROTH IRA, maximize it or think about an IRA (if not eligible for ROTH). If your company provides you access to 403b or 457, you can use those accounts for either ROTH or pre-tax savings.

    We stay away from buying stocks. Investment need not be complicated. Actually, simpler is the best. Check your allotments every 6 months and that's all you should need to do. Leave the guessing game to the pros :).
     
  6. nuss

    nuss Finest Post Winner

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    Yes, that's the goal!

    I wouldn't say I have suffered a lot. I was fortunate to endure the hardship only for a year or two. I learned from the experience and it helped me become a better person.
     
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  7. nuss

    nuss Finest Post Winner

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    I am sure you have your dream villa that you built with hard work and love! Nothing beats having what you have always dreamed for.
    For me, it was always a beautiful house on a hill with a backyard big enough for kids to play around and garden for me to admire the insects on the flowers and a place to sip my tea on a leisurely morning, a river flowing by and one can hear the calm of flowing water. We were so lucky to get a house in the mountains, next to a river (it was meant to be). It's a lovely house (at least I think so) with enough room for our family and to host friends and extended family, a large open kitchen for my husband to cook for our friends when we all gather.


    Yes, that additional passive income helps build wealth while having the sense of security.

    So true! We complicate things, it doesn't need to be that way.

    Congratulations @SBGV for achieving all you goals by 40!
     
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  8. nuss

    nuss Finest Post Winner

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    Thank you @shyamala1234 ji! I won't take the whole credit and pretend to be super disciplined. It helps to have a job that provides extra support. Most university faculty jobs in the USA are 9-month salaried (split over 12 months) which allows grants to pay extra 3 months of salary on top of state salary. We have been budgeting our expenses on our base salary while putting extra 6 months of income towards investments, buying a car in cash, and paying off our mortgage- as we see fit. We didn't let our extra income lead to lifestyle creep which helped.
     
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  9. DDream

    DDream Finest Post Winner

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    Thanks @nuss. I have done all those safe deposits including roth IRA a few years back. I also like safe deposits like CD's, not into stocks. But due to low interest, I thought of exploring other options. Yes, my invest banker helps. But I have never tried, online high interest banks. Is it safe, any suggestions?
     
    Last edited: Jun 30, 2022
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  10. nuss

    nuss Finest Post Winner

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    Yes online banks that are insured by the Federal Deposit Insurance Corp.,l are safe. FDIC covers up to $250,000 per account for each individual customer. I use Ally bank saving account.
     

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