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Personal Finance

Effective Personal Financial Planning Guide

Having a mental image of what your life will be like at age 50 will enable you to be financially ready.

Bryan Hirsch




Neglecting to take good care of your financial planning is as irresponsible as having a haphazard attitude to family planning. Both can have a dramatic negative impact on your life.

I am passionate about trying to help people achieve their due rewards in life, and relentless in my efforts to try to educate, and therefore protect, as many people as possible from suffering financially when they reach their retirement years. The key is to get your priorities right from the outset.

Enjoying your golden years

What is the point of working hard all your life if you cannot enjoy your retirement? It is even more important to be financially independent so that you can make choices in your remaining working years. It’s not retirement but financial independence that gives you the ability to do so.

It’s not easy to predict the future.But we should never stop ourselves from thinking about what lies ahead and dreaming about the things we’d like to do.

A formula for success

My formula for success applies to everyone. If you are in your 20s, add 30 years. If you are in your 30s, add 20,if you are in your 40s, then add 10 and so on.

Whatever your age, you need to step out of your present situation and take a mental photograph of yourself at age 50.Take a long hard look at that snapshot and ask yourself as many questions about your circumstances as you can.

Ask Yourself these questions:

  • What will I look like at that time?
  • What will my family look like? 
  • How many children will I have? 
  • Where do I want to live at that time?
  • What if I’m divorced? 
  • What happens if I lose my spouse?
  • Will I want to have my own business by then?
  • What if my financial circumstances are so undernourished that I’m unable to even consider the possibility of being financially independent.
  • We are all different and have different concerns about our later years – and believe me, 50 is not so far away. I always thought that I would remain in my 20s and 30s forever, but time does indeed fly.

It’s about ambition

By now you will have realised that I am really referring to ambition. Most of us will admit that without ambition we find it very difficult to function properly and effectively. It’s what keeps our lives on track.

Once you have a clear understanding of what your ambitions are, where you want to be and what your broad surroundings will look like, you need to take positive action and start along the path that will enable you to achieve your ambitions. But, take heed.

Realise Your goals

To achieve your goals you have to be disciplined and you will need to stop and check your compass at least once a year to ensure that you have not deviated. You will also need a financial advisor with whom you have an open, trustworthy and long-term relationship.

Your financial advisor must be the one person who has the knowledge, the experience and the interest to see that you arrive at your financial destination well on time.

BRYAN HIRSCH has been in the financial services industry for 47 years and is a director of Bryan Hirsch Colley & Associates. He has written two books, the first Bryan Hirsch’s Guide to Personal Finance and more recently, Steps to Financial Freedom. Bryan has written for many of South Africa’s top financial and business publications, has been a weekly guest on Radio SAFM for 18 years, and has his own weekly TV show You & Your Money on Summit TV.

Personal Finance

6 Ways To Develop A Millionaire Mindset

Chasing money has remarkably little to do with getting rich.



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If you truly want to have a million dollars, you must first be and think like a millionaire. By doing so, you will attract the necessary resources to you.

So, you want to become a millionaire entrepreneur? You’re not alone. Many dream of leaving their job and becoming their own boss, enjoying the various millionaire lifestyles we watch on TV. But there’s a difference between those who dream of becoming millionaires and those who do. And it begins and ends with mindset. If you don’t develop that mindset, you will continue to spin your wheels, working just as hard, but never going anywhere.

Developing a millionaire mindset requires you to stretch your thinking. Start by developing the following six attributes.

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Personal Finance

4 Ways To Become A Millionaire Even When You Start With Little

It costs nothing to take advantage of the limitless opportunities online.

Timothy Sykes




The hardest part of becoming successful is getting started to begin with. But despite the challenges ahead of you, there’s a way to become a millionaire when starting with little. I’m going to show you four reasons why you can become a millionaire with just a small investment.

1. First focus on learning, not big gain

Education is your greatest weapon. Focus on learning in the beginning. Don’t make the mistake of focusing on making huge gains in the beginning. Learn everything you can because this is how you build the foundations for long-term gains.

Related: 21 Choices Millionaires Make That You Aren’t Making But Should Be

They say that if a millionaire goes bankrupt they’ll nearly always be able to get it back. And that’s because they might have lost their money, but they have the knowledge of how to get back to where they need to be.

2. You can learn loads about any topic online


I’m grateful for the internet. It’s the single biggest library in the world. You’re reading this article right now and you’re acquiring knowledge you wouldn’t have been able to acquire 40 years ago.

Use the internet to its fullest extent, whether that’s through reading books, browsing articles or watching video tutorials. Set some time aside every day to learn something online. It could be a video series or a favorite blog.

When you get into the habit of learning regularly you’ll find that you advance much faster.

3. Focus on the niche you love

These days you can learn about anything and target the niche you’re passionate about.

This is what I was able to do with penny stocks. I found a gap in the market and provided knowledge to people who wouldn’t have otherwise being able to access this sort of information.

You can do that with absolutely any niche. When you find a niche you’re passionate about and you use the reach of the Internet you start to make huge gains.

4. Prove your expertise by creating free content

Your reputation as an authority is the new business card. There’s a reason I created a penny stock guide and made it free for all. You may have already seen ads for it on social media. The way to succeed with little is to create a reputation through your content.

Related: How To Become A Millionaire, Explained In 1 Minute

It’s the gateway to success because through free content you start to build relationships with others who value your work. And from there everyone gets richer.

You can do lots with a little

The days when you needed a huge investment to become successful are long gone. These days you can do so much with just a little. Find what you love, advance your knowledge in that area, and create a product that fulfills a need. Finally, work on building up relationships through portraying yourself as an authority on your subject.

Combine everything together and you can accomplish anything.

This article was originally posted here on

Related: 13 Habits Of Self-Made Millionaires You Could Adopt Today

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Personal Finance

10 Tips To Become A Millionaire This Year

Becoming a millionaire requires changing your mindset and implementing some changes.

Murray Newlands



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Becoming a millionaire may seem out of your reach, but it’s possible with the right attitude and guidance. The fact of the matter is your income can only grow as quickly as you do, so you need to change your mindset to achieve your goal of becoming a millionaire.

Once you have a millionaire mind, you can’t lose it, no matter what financial or business mistakes you make along the way. To get yourself there, you’re going to need some structure. To help you, I’ve outlined the top ten tips you should follow to become a millionaire this year.

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