A savvy financial strategy considers
the economic environment in which you live. Consideration of the economy should
play a part in the decisions that make up your financial plan, including;
retirement investment choices, buying a house and deciding where to park your
savings.
Worldwide only about 5% of people have a strong enough financial position to be considered financially independent.
Your financial performance is a
measure of how well you have used your available skills and resources to
generate wealth over a given period.
Personal finance is the financial
management which an individual or a family unit performs to budget, save, and
spend monetary resources over time, taking into account various financial risks
and future life events.
An American billionaire businessman,
hedge fund manager, philanthropist, and author who has served as CEO of the
world's largest hedge fund, Bridgewater Associates, and considered amongst the
top 100 influential people in the world, Ray Dalio provides this illustration
of how the economy works.
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