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Financial Freedom on $5 a Day

1 rating: 5.0
A book by Chuck Chakrapani

- Develop a simple plan to save money - Start investing with as little as $100 - Build a balanced portfolio

Author: Chuck Chakrapani
Publisher: Self-Counsel Press
1 review about Financial Freedom on $5 a Day

How to Save and Invest

  • Jul 25, 2009
Rating:
+5
Remember the famous equation in Economics-Savings= Investment. This author talks about the dynamics of saving money incrementally to accumulate a small fortune over time.

Start small and take advantage of compounding, cost averaging of shares and diversification. For instance, DRIP investing automatically reinvests dividends into fractional shares which grow over time. (dripinvestor.com)

Buy stocks with a low PE ratio (Price/Earnings) and a high Book Value. Slash personal expenses to maximize funds available for investment purposes. Always preserve capital.

The Investment Company Institute and the Canadian Trust Dividends Inc. (CIBC.div) are excellent investment research sources. Also, look at First CDN Dividend Income and Hong Kong Bank Dividend, Inc. as potential investments.

DRIPS provide huge profit potential over time when dividends are reinvested. examples are Coke, Pepsi, AT & T and others

This book would be a wonderful acquisition for first time investors.

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August 03, 2010
Oooh, I'm always looking to learn new ways to save and invest! How does the $5 factor in? And have you tried any of the tips? Thanks for sharing, Joe!
August 04, 2010
The $5. factor involves limiting daily expenses so that you'll have enough to save. A savings program can grow quickly if invested in the right places. There are excellent stocks that have done well even during the recession. Basically, utilities, Canadian Energy Trusts, Verizon, Yum, Google, Apple, Nike, ITC (electrical utility), Burlington Northern RR and others have done well. Precious metals should do well over the next decades due to the projected increase in world population to 9 billion people. Petrobas is another good energy stock. Jacobs Engineering is a good infrastructure engineering company in a recovering economy.
 
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