Already a subscriber?Each month, commercial pilots Micheala Ripa and husband Pablo deposit 10 per cent of their salaries into their respective investing accounts.. His is to find the growth stocks. “The whole point of our investing is so that when we retire, we have enough dividend income, or the growth stocks have grown enough that we can sell them and have enough money every month,” Micheala says.
She’s not alone in this opinion. A survey of 2011 Australian investors by investment platform Stake, published on Tuesday, found that 56 per cent of those aged 25-34 believe that what you own is more important than what you earn – the highest percentage of any generation.Those 65 and older were the least likely to believe that what you own is more important than what you earn.
“It’s really hard for young people to control wages, and there’s a broad societal question around wage growth versus the growth seen in the property market,” says Howie. “But young people are thinking about how they prioritise entertainment, travel and eating out, versus their financial futures.” “I know that seems pretty outlandish, but I think we’re going pretty well. You’ve got to remember it’s all about exponential growth.”
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