2 March 2016 12:00 am
With another Sri Lankan Independence Day already passed, isn’t it time you did some thinking about how well you’re doing in achieving your own financial independence, asks Prabodha Samarasekera, CEO of expert financial planner NDB Wealth.
Samarasekera also said, “Financial freedom means different things to different people; not having any debt, having enough saved for emergencies or being able to retire early. Another way to look at it is to have your assets generate income that is greater than your expenses.”
Samarasekera advised, “Here’s the big catch: Your career is your most powerful tool for financial independence. That often means more work in the short run, but that additional work simply serves to shave years off of your goal of retiring early. You’ve got to keep your eyes on the prize and that means sometimes doing things in an innovative and non-traditional way, while also working very hard. If you do, you’ll find financial independence creeping closer and closer.”
“There are two ways to achieve financial independence; increase your assets and reduce your expenses. While a simple lifestyle will help you manage your expenses, accumulating assets require careful planning and knowledge,” suggested Samarasekera.
As such, Samarasekera recommended freeing your money from traditional bank deposits and allowing your heard-earned savings to reach their full potential, with the help of NDB Wealth, an exemplary financial advisor that has been recognized by Global Banking & Finance Review magazine as the ‘Best Asset Management Company, Sri Lanka 2015’.
As an ideal place to begin the fight for your financial freedom, NDB Wealth’s simple and easy-to-use ‘Money Plus’ money market fund, which offers a 7.25 percent current yield, is an excellent first choice. The NDB Wealth Money Plus account not only offers higher rates of return, compared to savings and deposit accounts but also affords the flexibility of depositing and withdrawing cash at any time, with no penalties, while the income earned is also tax free, to your hands. And once you’ve got on track with your plan to achieve your financial freedom, the qualified and experienced advisors at NDB Wealth can also offer guidance on other financial products and solutions for your future. So, ‘it’s time’ to go beyond the limitations of financial independence and achieve true freedom.