Savenok how to make a personal financial plan. Vladimir savenok - how to draw up a personal financial plan and how to implement it

Vladimir Stepanovich Savenok

How to make a personal financial plan and how to implement it

This book is your road to financial security. That is, to gain control over your money and to manage it optimally. The author, a leading Russian independent expert in personal finance management, detailed how to set and adjust financial goals and what it takes to make your money work more efficiently for you with the right investment strategy.

You will learn how to find money for the realization of your life plans, no matter how many there are now. And not through austerity, but through competent planning of financial flows.

The book will be useful to everyone who knows how to make money and wants to achieve financial independence.

Vladimir Savenok

How to make a personal financial plan and how to implement it

I dedicate this book to my closest people.

To my mother - thank you for your wisdom and kindness towards all of us, your children and grandchildren.

To your beloved wife Irina for support and patience - you are so often left alone and the whole burden of family worries falls on your shoulders.

To my beloved children, without whom I miss very much when they are not around. Thank you for your love and sorry if sometimes I am unfair to you.

I also dedicate the book to the memory of my father - the kindest man who loved life and all people very much.

Once upon a time there were two girlfriends. Their names were, say, Svetlana and Olga.

Although they were friends, they treated life differently.

Svetlana, when she was 15 years old, spent most of her time at home reading books. She did not like parties, discos and other noisy entertainment, so attractive to her peers.

Each year, her parents gave her $ 1000, which she could spend at her own discretion. But her expenses were not high, and she decided to invest this money. Her parents opened a brokerage account for her and started buying stocks. No risk, with a relatively small percentage.

Up to her 25th birthday, Svetlana invested $ 1,000 annually in stocks and, thus, invested $ 10,000 over ten years. The average return on investment in the stock market is 12% per annum.

When Svetlana was twenty-five, she suddenly thought that life was passing by. From that moment on, she stopped investing and spent every dollar she earned on entertainment. But Svetlana did not touch the previously set aside money - they continued to work on the stock market.

Olga, unlike her friend, from the age of 15, spent all the money that her parents gave her. She, and not thinking about investments, had fun with her peers at discos and clubs. At 22, Olga started working, but still did not make long-term investments.

When Olga turned 40, she heard the first alarm bell: her parents, who did not have any savings, in old age began to live only on a state pension (you can call it a state benefit).

The standard of living of Olga's parents had noticeably decreased, and, in order not to repeat their mistake, over the next 25 years she saved $ 10,000 annually. She still had a lot of time ahead, and she hoped to collect significant retirement capital.

When our heroines turned 65, they left for a well-deserved rest. How much money was in their retirement accounts by this time? Try to guess which of them has accumulated more.

Svetlana, who invested $ 10,000 in total (Olga invested the same amount annually), received $ 1,600,000 by her retirement age.

Olga, who has invested $ 250,000 in total ($ 10,000? 25 years), has accumulated $ 1,000,000 by the age of 65.

Of course, none of them will starve to death, but notice the difference! Due to the fact that Olga began investing 25 years later than Svetlana, the size of the fund accumulated by her turned out to be one and a half times less, although the amount of her annual investments was ten times more.

This book will help you learn how to work with your money, feel and understand its movement. If you are patient enough, you will see that controlling and planning cash flows can eliminate existing financial problems and avoid similar difficulties in the future. Your money will work under your control, and you will fully experience the pleasure of being the master of your money.

My book, first published in 2006, has become especially relevant after the 2008 crisis. Unfortunately, today it is quite difficult to find a book in Russian on personal finance management in a store (for example, the previous edition of the book you are holding in your hands now refers to 2005). Meanwhile, many Russians have adjusted their attitude towards investment during this time. Until 2008, Svetlana's story usually made listeners smile: the average return of 12% was of interest to few. Even the act of Olga, who at the age of 40 decided to start saving $ 10,000 a year, caused confusion. Basically, then they were guided by the principle "All the money is in business!" Or they risked everything, quickly bought something somewhere and immediately resold it with a 100% margin - this approach was used first in the real sector of the economy, and then in the stock market.

Two years after the shock therapy, we became sober and began to understand the difference between "making money" and "saving." But what needs to be done in order for the earned to become saved and bring income?

I will digress a little and tell you one more story. Once, two American economists, Thomas Stanley and William Danko, decided to conduct a study and find out everything about millionaires: how and where they live, what they eat, how they dress, where they invest their money. The study authors sought to understand why millionaires became millionaires. The best way to gather this information is to ask the millionaires themselves. For their first interview, Stanley and Danko rented a luxury apartment on the roof of a skyscraper in an upscale New York City neighborhood to make respondents feel at home. Two specially hired chefs drew up a menu of appetizers with four types of pate and three types of caviar. To highlight this gastronomic splendor were two boxes of wine: an expensive vintage 1970 bordeaux and a delicious 1973 Cabernet Sauvignon.

Having prepared everything, Stanley and Danko began to wait for the arrival of the decamillionaires, the capital of each of whom was estimated at no less than $ 10 million.

The first to come was Mr. Bud, a 69-year-old first-generation millionaire who created his own capital on his own, and did not inherit it, the owner of expensive real estate in New York and two businesses. From his appearance it was impossible to say that he had a huge fortune: ordinary clothes, an orderly worn suit and coat.

But the interviewers wanted to show Mr. Bud that they are well versed in the gastronomic predilections of American millionaires, and one of them offered the guest a glass of burgundy.

Mr. Bud looked in bewilderment and said: "I only drink whiskey and beer of two kinds - Budweiser and free."

The rest of the guests gradually gathered.

The interview lasted two hours. Nine decamillionaires fidgeted in their chairs, sometimes glancing at the set table, but they never touched drinks and collection wines. They were not averse to having a snack, but only ate dry pate crackers.

After the guests had dispersed, managers from neighboring offices and the authors of the study enjoyed gourmet snacks and wines.

Since then, Stanley and Danko have offered much more modest, but familiar treats to their respondents during interviews: coffee, drinks, beer, whiskey, sandwiches. And of course, they paid $ 100 to $ 250 for interviews. Sometimes other types of reward were offered, but no millionaire preferred to take from them instead of money, for example, a large and expensive toy bear for his grandson.

It is clear from this story that millionaires plan their cash flows very carefully, analyze their investments. They like to sit in their office in the evening and see what happened in the week with capital, which assets have grown and which have fallen, are there any interesting options for investing, etc.

In addition, real millionaires, like the underground millionaire Koreiko, the hero of Ilya Ilf and Evgeny Petrov, live quite modestly. This was clearly demonstrated by Thomas Stanley and William Danko in their book "Your Neighbor is a Millionaire", dispelling the myths about the luxurious life of millionaires.

My book is intended for everyone who wants to learn how to manage their finances, using a balanced and thoughtful investment to increase their income. It tells about how to draw up a personal financial plan and how to implement it, what investment tools to use. In this book, as in my work, I have tried to speak clearly for everyone. Of course, you can't do without terms, but I hope both my interlocutors and my readers understand me.

I remember how in the early 1990s I worked at the National Bank of the Republic of Belarus. In those years, the independent banking systems of the countries of the former republics of the USSR were formed. This was a completely new activity. In Belarus, as in other post-Soviet countries, there were no specialists who understood in detail the work of the central bank, and everyone - from junior employees to the chairman of the bank - independently learned new operations.

At the head of the National Bank was a very competent economist, a real professional and experienced teacher, a professor at the University of Economics.

At one of the meetings with the chairman, the head of the balance of payments department reported on the state of the balance of Belarus. The report was full of many new terms and definitions, which the rest of those present at the meeting did not understand, but did not dare to ask again, so as not to show their illiteracy.

Soon the speaker was interrupted by the chairman: “What are you telling us here ?! Some terms that we do not understand! - he never spoke calmly, but exclaimed: "Speak Russian!"

Then the chairman addressed all those present: “You are employees of a state structure! You communicate with the people! Therefore, you should speak in such a way that even a second grader understands you! And Irina Mikhailovna says that even financiers cannot understand anything! - And he told the speaker: - Start all over again, and so that everything is clear to everyone!

I remembered these words for a long time. Since then, if I meet a person who, wishing to show his high professionalism, operates with many highly specialized terms, then I do not even try to understand the meaning of his speech and either ask to repeat everything in clear language first, or I bow.

I must say that often, when talking with financiers, I, a person who has been professionally involved in finance for 14 years, cannot understand what they want to say. Curious how customers understand them?

This book is also written in a language accessible to everyone. Most of my working time I talk not with professional financiers, but with those who do not know what financial risks are, how mutual funds and insurance companies work, who have never dealt with hedge funds. Moreover, among my interlocutors there are both employees and large businessmen who, oddly enough, also have a poor understanding of investment instruments and investment strategies.

In general, so much has been written about finance that if you decide to read everything, you will not have a minute to work with your money and create your personal capital. Therefore, I urge you to take action. I hope you will not only gain new knowledge from my book, but also get practical benefits. As you read the book, do not hesitate to start following the steps and recommendations that will help you gain financial independence.

I. How to take control of your money

Vladimir Savenok

How to make a personal financial plan and how to implement it

I dedicate this book to my closest people.

To my mother - thank you for your wisdom and kindness towards all of us, your children and grandchildren.

To your beloved wife Irina for support and patience - you are so often left alone and the whole burden of family worries falls on your shoulders.

To my beloved children, without whom I miss very much when they are not around. Thank you for your love and sorry if sometimes I am unfair to you.

I also dedicate the book to the memory of my father - the kindest man who loved life and all people very much.

Once upon a time there were two girlfriends. Their names were, say, Svetlana and Olga.

Although they were friends, they treated life differently.

Svetlana, when she was 15 years old, spent most of her time at home reading books. She did not like parties, discos and other noisy entertainment, so attractive to her peers.

Each year, her parents gave her $ 1000, which she could spend at her own discretion. But her expenses were not high, and she decided to invest this money. Her parents opened a brokerage account for her and started buying stocks. No risk, with a relatively small percentage.

Until her 25th birthday, Svetlana invested $ 1000 annually in stocks and, thus, invested $ 10,000 in ten years. The average return on investment in the stock market is 12% per annum.

When Svetlana was twenty-five, she suddenly thought that life was passing by. From that moment on, she stopped investing and spent every dollar she earned on entertainment. But Svetlana did not touch the previously set aside money - they continued to work on the stock market.

Olga, unlike her friend, from the age of 15, spent all the money that her parents gave her. She, and not thinking about investments, had fun with her peers at discos and clubs. At 22, Olga started working, but still did not make long-term investments.

When Olga turned 40, she heard the first alarm bell: her parents, who did not have any savings, in old age began to live only on a state pension (you can call it a state benefit).

The standard of living of Olga's parents has noticeably decreased, and in order not to repeat their mistake, she saved $ 10,000 annually for the next 25 years. She still had a lot of time ahead and hoped to raise significant retirement capital.

When our heroines turned 65, they left for a well-deserved rest. How much money was in their retirement accounts by this time? Try to guess which of them has accumulated more.

Svetlana, who invested $ 10,000 in total (Olga invested the same amount annually), received $ 1,600,000 by her retirement age.

Olga, who has invested $ 250,000 in total ($ 10,000 × 25 years), has accumulated $ 1,000,000 by the age of 65.

Of course, none of them will starve to death, but notice the difference! Due to the fact that Olga began investing 25 years later than Svetlana, the size of the fund accumulated by her turned out to be one and a half times less, although the amount of her annual investments was ten times more.

This book will help you learn how to work with your money, feel and understand its movement. If you are patient enough, you will see that controlling and planning cash flows can eliminate existing financial problems and avoid similar difficulties in the future. Your money will work under your control, and you will be able to fully experience the pleasure of the fact that you are the owner of your money.

My book, first published in 2006, has become especially relevant after the 2008 crisis. Unfortunately, today it is quite difficult to find a book in Russian on personal finance management in a store (for example, the previous edition of the book you are holding in your hands now refers to 2005). Meanwhile, many Russians have adjusted their attitude towards investment during this time. Until 2008, Svetlana's story usually made listeners smile: the average return of 12% was of interest to few. Even the act of Olga, who at the age of 40 decided to start saving $ 10,000 a year, caused confusion. Basically, then they were guided by the principle "All the money is in business!" Or they risked everything, quickly bought something somewhere and immediately resold it with a 100% margin - this approach was used first in the real sector of the economy, and then in the stock market.

Two years after the shock therapy, we became sober and began to understand the difference between "making money" and "saving." But what needs to be done in order for the earned to become saved and bring income?

I will digress a little and tell you one more story. Once, two American economists, Thomas Stanley and William Danko, decided to conduct a study and find out everything about millionaires: how and where they live, what they eat, how they dress, where they invest their money. The study authors sought to understand why millionaires became millionaires... The best way to gather this information is to ask the millionaires themselves. For their first interview, Stanley and Danko rented a luxury apartment on the roof of a skyscraper in an upscale New York City neighborhood to make respondents feel at home. Two specially hired chefs drew up a menu of appetizers with four types of pate and three types of caviar. Two boxes of wine were supposed to highlight this gastronomic splendor: an expensive 1970 bordeaux and a delicious 1973 Cabernet Sauvignon.

Having prepared everything, Stanley and Danko began to wait for the arrival of the decamillionaires, the capital of each of whom was estimated at no less than $ 10 million.

The first to come was Mr. Bud, a 69-year-old first-generation millionaire who created his own capital on his own, and did not inherit it, the owner of expensive real estate in New York and two businesses. From his appearance it was impossible to say that he had a huge fortune: ordinary clothes, an orderly worn suit and coat.

But the interviewers wanted to show Mr. Bud that they are well versed in the gastronomic predilections of American millionaires, and one of them offered the guest a glass of burgundy.

Mr. Bud looked in bewilderment and said: "I only drink whiskey and beer of two kinds - Budweiser and free."

The rest of the guests gradually gathered.

The interview lasted two hours. Nine decamillionaires fidgeted in their chairs, sometimes glancing at the set table, but they never touched drinks and collection wines. They were not averse to having a snack, but only ate dry pate crackers.

After the guests had dispersed, managers from neighboring offices and the authors of the study enjoyed gourmet snacks and wines.

Since then, Stanley and Danko have offered much more modest, but familiar treats to their respondents during interviews: coffee, drinks, beer, whiskey, sandwiches. And of course, they paid $ 100 to $ 250 for interviews. Sometimes other types of reward were offered, but no millionaire preferred to take from them instead of money, for example, a large and expensive toy bear for his grandson.

It is clear from this story that millionaires plan their cash flows very carefully, analyze their investments. They like to sit in their office in the evening and see what happened in the week with capital, which assets have grown and which have fallen, are there any interesting options for investing, etc.

In addition, real millionaires, like the underground millionaire Koreiko, the hero of Ilya Ilf and Evgeny Petrov, live quite modestly. This was clearly demonstrated by Thomas Stanley and William Danko in their book "Your Neighbor is a Millionaire", dispelling the myths about the luxurious life of millionaires.

My book is intended for everyone who wants to learn how to manage their finances, using a balanced and thoughtful investment to increase their income. It tells about how to draw up a personal financial plan and how to implement it, what investment tools to use. In this book, as in my work, I have tried to speak clearly for everyone. Of course, you can't do without terms, but I hope both my interlocutors and my readers understand me.

I remember how in the early 1990s I worked at the National Bank of the Republic of Belarus. In those years, the independent banking systems of the countries of the former republics of the USSR were formed. This was a completely new activity. In Belarus, as in other post-Soviet countries, there were no specialists who understood in detail the work of the central bank, and everyone - from junior employees to the chairman of the bank - independently learned new operations.

At the head of the National Bank was a very competent economist, a real professional and experienced teacher, a professor at the University of Economics.

I dedicate this book to my closest people.

To my mother - thank you for your wisdom and kindness towards all of us, your children and grandchildren.

To your beloved wife Irina for support and patience - you are so often left alone and the whole burden of family worries falls on your shoulders.

To my beloved children, without whom I miss very much when they are not around. Thank you for your love and sorry if sometimes I am unfair to you.

I also dedicate the book to the memory of my father - the kindest man who loved life and all people very much.

Once upon a time there were two girlfriends. Their names were, say, Svetlana and Olga.

Although they were friends, they treated life differently.

Svetlana, when she was 15 years old, spent most of her time at home reading books. She did not like parties, discos and other noisy entertainment, so attractive to her peers.

Each year, her parents gave her $ 1000, which she could spend at her own discretion. But her expenses were not high, and she decided to invest this money. Her parents opened a brokerage account for her and started buying stocks. No risk, with a relatively small percentage.

Until her 25th birthday, Svetlana invested $ 1000 annually in stocks and, thus, invested $ 10,000 in ten years. The average return on investment in the stock market is 12% per annum.

When Svetlana was twenty-five, she suddenly thought that life was passing by. From that moment on, she stopped investing and spent every dollar she earned on entertainment. But Svetlana did not touch the previously set aside money - they continued to work on the stock market.

Olga, unlike her friend, from the age of 15, spent all the money that her parents gave her. She, and not thinking about investments, had fun with her peers at discos and clubs. At 22, Olga started working, but still did not make long-term investments.

When Olga turned 40, she heard the first alarm bell: her parents, who did not have any savings, in old age began to live only on a state pension (you can call it a state benefit).

The standard of living of Olga's parents has noticeably decreased, and in order not to repeat their mistake, she saved $ 10,000 annually for the next 25 years. She still had a lot of time ahead and hoped to raise significant retirement capital.

When our heroines turned 65, they left for a well-deserved rest. How much money was in their retirement accounts by this time? Try to guess which of them has accumulated more.

Svetlana, who invested $ 10,000 in total (Olga invested the same amount annually), received $ 1,600,000 by her retirement age.

Olga, who has invested $ 250,000 in total ($ 10,000 × 25 years), has accumulated $ 1,000,000 by the age of 65.

Of course, none of them will starve to death, but notice the difference! Due to the fact that Olga began investing 25 years later than Svetlana, the size of the fund accumulated by her turned out to be one and a half times less, although the amount of her annual investments was ten times more.

This book will help you learn how to work with your money, feel and understand its movement. If you are patient enough, you will see that controlling and planning cash flows can eliminate existing financial problems and avoid similar difficulties in the future. Your money will work under your control, and you will be able to fully experience the pleasure of the fact that you are the owner of your money.

My book, first published in 2006, has become especially relevant after the 2008 crisis. Unfortunately, today it is quite difficult to find a book in Russian on personal finance management in a store (for example, the previous edition of the book you are holding in your hands now refers to 2005). Meanwhile, many Russians have adjusted their attitude towards investment during this time. Until 2008, Svetlana's story usually made listeners smile: the average return of 12% was of interest to few. Even the act of Olga, who at the age of 40 decided to start saving $ 10,000 a year, caused confusion. Basically, then they were guided by the principle "All the money is in business!" Or they risked everything, quickly bought something somewhere and immediately resold it with a 100% margin - this approach was used first in the real sector of the economy, and then in the stock market.

Two years after the shock therapy, we became sober and began to understand the difference between "making money" and "saving." But what needs to be done in order for the earned to become saved and bring income?

I will digress a little and tell you one more story. Once, two American economists, Thomas Stanley and William Danko, decided to conduct a study and find out everything about millionaires: how and where they live, what they eat, how they dress, where they invest their money. The study authors sought to understand why millionaires became millionaires... The best way to gather this information is to ask the millionaires themselves. For their first interview, Stanley and Danko rented a luxury apartment on the roof of a skyscraper in an upscale New York City neighborhood to make respondents feel at home. Two specially hired chefs drew up a menu of appetizers with four types of pate and three types of caviar. Two boxes of wine were supposed to highlight this gastronomic splendor: an expensive 1970 bordeaux and a delicious 1973 Cabernet Sauvignon.

Having prepared everything, Stanley and Danko began to wait for the arrival of the decamillionaires, the capital of each of whom was estimated at no less than $ 10 million.

The first to come was Mr. Bud, a 69-year-old first-generation millionaire who created his own capital on his own, and did not inherit it, the owner of expensive real estate in New York and two businesses. From his appearance it was impossible to say that he had a huge fortune: ordinary clothes, an orderly worn suit and coat.

But the interviewers wanted to show Mr. Bud that they are well versed in the gastronomic predilections of American millionaires, and one of them offered the guest a glass of burgundy.

Mr. Bud looked in bewilderment and said: "I only drink whiskey and beer of two kinds - Budweiser and free."

The rest of the guests gradually gathered.

The interview lasted two hours. Nine decamillionaires fidgeted in their chairs, sometimes glancing at the set table, but they never touched drinks and collection wines. They were not averse to having a snack, but only ate dry pate crackers.

After the guests had dispersed, managers from neighboring offices and the authors of the study enjoyed gourmet snacks and wines.

Since then, Stanley and Danko have offered much more modest, but familiar treats to their respondents during interviews: coffee, drinks, beer, whiskey, sandwiches. And of course, they paid $ 100 to $ 250 for interviews. Sometimes other types of reward were offered, but no millionaire preferred to take from them instead of money, for example, a large and expensive toy bear for his grandson.

It is clear from this story that millionaires plan their cash flows very carefully, analyze their investments. They like to sit in their office in the evening and see what happened in the week with capital, which assets have grown and which have fallen, are there any interesting options for investing, etc.

In addition, real millionaires, like the underground millionaire Koreiko, the hero of Ilya Ilf and Evgeny Petrov, live quite modestly. This was clearly demonstrated by Thomas Stanley and William Danko in their book "Your Neighbor is a Millionaire", dispelling the myths about the luxurious life of millionaires.

My book is intended for everyone who wants to learn how to manage their finances, using a balanced and thoughtful investment to increase their income. It tells about how to draw up a personal financial plan and how to implement it, what investment tools to use. In this book, as in my work, I have tried to speak clearly for everyone. Of course, you can't do without terms, but I hope both my interlocutors and my readers understand me.

Current page: 1 (total of the book has 17 pages) [available passage for reading: 4 pages]

Vladimir Savenok

How to make a personal financial plan and how to implement it

I dedicate this book to my closest people.

To my mother - thank you for your wisdom and kindness towards all of us, your children and grandchildren.

To your beloved wife Irina for support and patience - you are so often left alone and the whole burden of family worries falls on your shoulders.

To my beloved children, without whom I miss very much when they are not around. Thank you for your love and sorry if sometimes I am unfair to you.

I also dedicate the book to the memory of my father - the kindest man who loved life and all people very much.

Once upon a time there were two girlfriends. Their names were, say, Svetlana and Olga.

Although they were friends, they treated life differently.

Svetlana, when she was 15 years old, spent most of her time at home reading books. She did not like parties, discos and other noisy entertainment, so attractive to her peers.

Each year, her parents gave her $ 1000, which she could spend at her own discretion. But her expenses were not high, and she decided to invest this money. Her parents opened a brokerage account for her and started buying stocks. No risk, with a relatively small percentage.

Until her 25th birthday, Svetlana invested $ 1000 annually in stocks and, thus, invested $ 10,000 in ten years. The average return on investment in the stock market is 12% per annum.

When Svetlana was twenty-five, she suddenly thought that life was passing by. From that moment on, she stopped investing and spent every dollar she earned on entertainment. But Svetlana did not touch the previously set aside money - they continued to work on the stock market.

Olga, unlike her friend, from the age of 15, spent all the money that her parents gave her. She, and not thinking about investments, had fun with her peers at discos and clubs. At 22, Olga started working, but still did not make long-term investments.

When Olga turned 40, she heard the first alarm bell: her parents, who did not have any savings, in old age began to live only on a state pension (you can call it a state benefit).

The standard of living of Olga's parents has noticeably decreased, and in order not to repeat their mistake, she saved $ 10,000 annually for the next 25 years. She still had a lot of time ahead and hoped to raise significant retirement capital.

When our heroines turned 65, they left for a well-deserved rest. How much money was in their retirement accounts by this time? Try to guess which of them has accumulated more.

Svetlana, who invested $ 10,000 in total (Olga invested the same amount annually), received $ 1,600,000 by her retirement age.

Olga, who has invested $ 250,000 in total ($ 10,000 × 25 years), has accumulated $ 1,000,000 by the age of 65.

Of course, none of them will starve to death, but notice the difference! Due to the fact that Olga began investing 25 years later than Svetlana, the size of the fund accumulated by her turned out to be one and a half times less, although the amount of her annual investments was ten times more.

This book will help you learn how to work with your money, feel and understand its movement. If you are patient enough, you will see that controlling and planning cash flows can eliminate existing financial problems and avoid similar difficulties in the future. Your money will work under your control, and you will be able to fully experience the pleasure of the fact that you are the owner of your money.

My book, first published in 2006, has become especially relevant after the 2008 crisis. Unfortunately, today it is quite difficult to find a book in Russian on personal finance management in a store (for example, the previous edition of the book you are holding in your hands now refers to 2005). Meanwhile, many Russians have adjusted their attitude towards investment during this time. Until 2008, Svetlana's story usually made listeners smile: the average return of 12% was of interest to few. Even the act of Olga, who at the age of 40 decided to start saving $ 10,000 a year, caused confusion. Basically, then they were guided by the principle "All the money is in business!" Or they risked everything, quickly bought something somewhere and immediately resold it with a 100% margin - this approach was used first in the real sector of the economy, and then in the stock market.

Two years after the shock therapy, we became sober and began to understand the difference between "making money" and "saving." But what needs to be done in order for the earned to become saved and bring income?

I will digress a little and tell you one more story. Once, two American economists, Thomas Stanley and William Danko, decided to conduct a study and find out everything about millionaires: how and where they live, what they eat, how they dress, where they invest their money. The study authors sought to understand why millionaires became millionaires... The best way to gather this information is to ask the millionaires themselves. For their first interview, Stanley and Danko rented a luxury apartment on the roof of a skyscraper in an upscale New York City neighborhood to make respondents feel at home. Two specially hired chefs drew up a menu of appetizers with four types of pate and three types of caviar. Two boxes of wine were supposed to highlight this gastronomic splendor: an expensive 1970 bordeaux and a delicious 1973 Cabernet Sauvignon.

Having prepared everything, Stanley and Danko began to wait for the arrival of the decamillionaires, the capital of each of whom was estimated at no less than $ 10 million.

The first to come was Mr. Bud, a 69-year-old first-generation millionaire who created his own capital on his own, and did not inherit it, the owner of expensive real estate in New York and two businesses. From his appearance it was impossible to say that he had a huge fortune: ordinary clothes, an orderly worn suit and coat.

But the interviewers wanted to show Mr. Bud that they are well versed in the gastronomic predilections of American millionaires, and one of them offered the guest a glass of burgundy.

Mr. Bud looked in bewilderment and said: "I only drink whiskey and beer of two kinds - Budweiser and free."

The rest of the guests gradually gathered.

The interview lasted two hours. Nine decamillionaires fidgeted in their chairs, sometimes glancing at the set table, but they never touched drinks and collection wines. They were not averse to having a snack, but only ate dry pate crackers.

After the guests had dispersed, managers from neighboring offices and the authors of the study enjoyed gourmet snacks and wines.

Since then, Stanley and Danko have offered much more modest, but familiar treats to their respondents during interviews: coffee, drinks, beer, whiskey, sandwiches. And of course, they paid $ 100 to $ 250 for interviews. Sometimes other types of reward were offered, but no millionaire preferred to take from them instead of money, for example, a large and expensive toy bear for his grandson.

It is clear from this story that millionaires plan their cash flows very carefully, analyze their investments. They like to sit in their office in the evening and see what happened in the week with capital, which assets have grown and which have fallen, are there any interesting options for investing, etc.

In addition, real millionaires, like the underground millionaire Koreiko, the hero of Ilya Ilf and Evgeny Petrov, live quite modestly. This was clearly demonstrated by Thomas Stanley and William Danko in their book "Your Neighbor is a Millionaire", dispelling the myths about the luxurious life of millionaires.

My book is intended for everyone who wants to learn how to manage their finances, using a balanced and thoughtful investment to increase their income. It tells about how to draw up a personal financial plan and how to implement it, what investment tools to use. In this book, as in my work, I have tried to speak clearly for everyone. Of course, you can't do without terms, but I hope both my interlocutors and my readers understand me.

I remember how in the early 1990s I worked at the National Bank of the Republic of Belarus. In those years, the independent banking systems of the countries of the former republics of the USSR were formed. This was a completely new activity. In Belarus, as in other post-Soviet countries, there were no specialists who understood in detail the work of the central bank, and everyone - from junior employees to the chairman of the bank - independently learned new operations.

At the head of the National Bank was a very competent economist, a real professional and experienced teacher, a professor at the University of Economics.

At one of the meetings with the chairman, the head of the balance of payments department reported on the state of the balance of Belarus. The report was full of many new terms and definitions, which the rest of those present at the meeting did not understand, but did not dare to ask again, so as not to show their illiteracy.

Soon the speaker was interrupted by the chairman: “What are you telling us here ?! Some terms that we do not understand! - he never spoke calmly, but exclaimed: "Speak Russian!"

Then the chairman addressed all those present: “You are employees of a state structure! You communicate with the people! Therefore, you should speak in such a way that even a second grader understands you! And Irina Mikhailovna says that even financiers cannot understand anything! - And he told the speaker: - Start all over again, and so that everything is clear to everyone!

I remembered these words for a long time. Since then, if I meet a person who, wishing to show his high professionalism, operates with many highly specialized terms, then I do not even try to understand the meaning of his speech and either ask to repeat everything in clear language first, or I bow.

I must say that often, when talking with financiers, I, a person who has been professionally involved in finance for 14 years, cannot understand what they want to say. Curious how customers understand them?

This book is also written in a language accessible to everyone. Most of my working time I talk not with professional financiers, but with those who do not know what financial risks are, how mutual funds and insurance companies work, who have never dealt with hedge funds. Moreover, among my interlocutors there are both employees and large businessmen who, oddly enough, also have a poor understanding of investment instruments and investment strategies.

In general, so much has been written about finance that if you decide to read everything, you will not have a minute to work with your money and create your personal capital. Therefore, I urge you to take action. I hope you will not only gain new knowledge from my book, but also get practical benefits. As you read the book, do not hesitate to start following the steps and recommendations that will help you gain financial independence.

I. How to take control of your money

The beginning of managing your money is always the most important moment ... However, as the beginning of something new in general. The simple things and simple tips that you read in this part are actually very effective if you do not just read the book, but do what is written here.

In this section, I will tell you how to start managing your money, in particular, how to build and analyze your financial statements.

1.1. Financial planning is the path to financial independence

Money without a master is shards.

Russian proverb

Once I met my neighbor Nikolai at the entrance to the entrance. I know that he has a family - a wife and a child, that he earns little and can barely make ends meet.

- How are you?

- Unimportant. I don’t know how to make it to the paycheck.

- And if you received five times as much as our neighbor Petya, would you solve all your problems?

- Of course! And not only my own, I would also help my relatives.

On the same day I met my neighbor Petya, who lives on the floor above. He also has a family of three, but his income is five times higher than that of Nikolai. The first thing Petya said to me when we met:

- How hard it is to live. There is a catastrophic lack of money. I don’t know how to make it until next month.

- Can you imagine how Nikolai lives with his salary, five times less than yours? I asked him.

- Honestly, I can't imagine, - answered Peter.

If a person does not control his cash flows, financial problems will follow him regardless of income level. If you think that you can solve financial problems with an increase in your income two, three or ten times, then you are deeply mistaken. Not only will you not solve them, but, perhaps, even aggravate them, because with higher incomes people tend to take on greater obligations and, accordingly, risks.

Why do people with different incomes face financial problems?

Those with very high incomes allow themselves not to think about their expenses, not to manage their cash flows. Money comes uncontrollably, leaves, comes again.

Most people constantly ask themselves the question. “Where can I get the money? How to live to see the paycheck? " But at a certain stage, both of them understand that money must be controlled, and here one cannot do without financial planning.

Financial planning is necessary for every person and every family, because the absence of a personal plan, even the most basic one, is a huge risk.

For those who currently have no money problems, this is the risk of losing everything one day and descending to a much lower standard of living. It's not so scary if this happens at the age of 30-40. And if at 50-60? At this age, not everyone will be able to return to their previous level of well-being.

For those who have money problems constantly, this is the risk of slipping from poor life To squalid.

But everything can be solved very simply! You just need to eliminate risks using the simplest financial planning.

When I worked in a commercial bank, for lunch, like all employees, I went to the buffet. As a rule, I had to stand in line at the checkout with a tray of food for 15–20 minutes. Once I came to the buffet, saw that there was no queue, and asked the barmaid what had happened.

- Well, the end of the month, people have no money. Everyone switched to sandwiches, ”she replied.

Then I began to pay attention to when there are long queues in the buffet, and when they are not. It turned out that on the days of advance payment and payday, the queue at the buffet was huge, and people, mostly women, came to the buffet half an hour before lunch to have time to go shopping during the break. On the eve of the salary payment, the buffet was almost empty.

Do you think all these people know anything about financial planning or investing? I'm sure they haven't even heard of it.

A man comes to an optometrist:

"Doctor, I have vision problems."

Doctor: "What happened?"

Patient: "I make a lot of money, but I don't see it!"

Joke

Remember how in the Golden Calf Ostap Bender asked Shura Balaganov how much money he needed to be happy, and received a very precise answer: 6400 rubles?

I ask you to answer the same question: how much money do you need for complete happiness?

When I ask this question at my seminars, I hear in response a variety of sums: $ 1,000,000, $ 100,000,000, etc. But many cannot decide at all how much they need.

The next question: "What will you do with this money?" - the participants of the seminars almost always answer in the same way: “This is why we have come: so that you tell us what to do with them”.

You answered? You see, Shura Balaganov was a more far-sighted and systemically thinking person, although this did not help him. Meanwhile, the answer is quite simple. It is expressed in one number in your financial plan, if, of course, you have one. It is your personal financial plan that allows you to determine, and quite accurately, how much money you need to be happy.

Let's say you won $ 500,000 in the lottery. A significant amount for many people. How will you dispose of it?

Don't put it off - sit down with a piece of paper and spread that $ 500,000 (see picture). tab. 1).

Perhaps you overdid it a little - the winnings are only $ 500,000, not $ 1,000,000. Although, when distributing a million, you would surely face the same problems. Don't you think that the amount of $ 500,000 is not that big? I came to the same conclusion when I tried to allocate it to assets for the first time.

Now let's take a look at the risks that people in different sectors of Robert Kiyosaki's Cash Flow Quadrant are exposed to.

Tab. 1. Distribution of winnings $ 500,000

According to the method of making money, all people can be conditionally divided into four groups:

- wage-earners. Those who receive a salary set by someone else. These people more need to assess their capabilities. They can hardly earn a million and count on a certain projected pension level;

- entrepreneurs. Those whose earnings depend only on themselves. The more they work, the more they get. If they don't work, the cash flow stops. This group includes, for example, private doctors, lawyers, etc .;

- businessmen. Those who have created their own business, which brings them constant income. They don't have to sit at their workplace all day. If the company has an experienced manager, they can leave for six months and return for a short time just to check how things are going. At the same time, they constantly receive income from the profits that their business brings;

- investors. Those who receive income from investing their funds. They buy and sell entire businesses. They create companies, develop them, and then sell them. They make money work for them. A striking example of an investor is the protagonist of the film Pretty Woman. Remember what he did? He bought a big business (factory, company, etc.), split it into several smaller companies and sold them off. In order to buy a large company, he took out a bank loan in the amount of $ 1,000,000,000, and six months later, having sold off small companies, he received twice as much. Everything is very simple.

Which group do you belong to? In no case do I want to offend you or teach you about life. Each person has his own character. Many of the smartest and most talented people live on a meager salary only because they cannot and do not want to do business. Others do not imagine how you can work for someone, and not for yourself.

But whether you are a businessman or an employee, if you do not have a rudimentary financial plan, big problems await you. They will object to me: but after all, many live without a financial plan, and they do not have any problems. However, this only means that such people either have a plan, but they do not call it that, or they simply have not yet faced financial difficulties that will surely overtake them in the future.

What are the risks of different groups of people?

- The greatest risks are for employees... An employee can be fired, reduced or not paid wages. Finally, he may get sick and lose his job. What to do in this case? How to live on? To avoid such problems, you need to think in advance, while you are healthy, work and have income, about where to direct and how to control cash flows.

- Entrepreneurs have less risk because they are independent of the owner. But, as in the first case, the earnings of the representatives of this group depend on their health and the ability to work. Entrepreneurs, do you have a financial reserve for six to nine months? Can you retire for this period? If yes, then you can be congratulated: you are trying to protect yourself and your loved ones. If not, then you are at risk.

- Businessmen and investors risk their capital... They need a financial plan in order to distribute resources and risks, as well as protect loved ones. Unfortunately, often the lust for money prevents businessmen from thinking rationally. They are not satisfied with 5-6% per annum. They want to receive 100% of the capital invested. In this regard, some invest in business 100% of their own funds and risk all their money. For some reason, they believe that they cannot have problems. They don't care about pension and insurance.

But the question arises: why do of each western businessman have a retirement plan? Why have of each Does a businessman, be it the president of Intel or a small business owner, have a life insurance policy?

Below is a rough diagram of how millionaires distribute their capital across different assets and, accordingly, their investment risks:

20% - securities and investment funds;

25% - pension plans;

20% - real estate;

20% - business;

15% - other assets, including banks.

Dear businessmen, please note that the share of capital in business is 20%, not 100%. Although business is the most attractive and profitable asset, at the same time it is the highest risk asset in Russia, the USA and other countries of the world. It is for this reason that risks should be shared rather than trying to make all the money by investing aggressively.

I am very pleased with the fact that over the past two or three years, many Russian businessmen have changed their attitude towards investing and consider it necessary to withdraw some of their capital from business and invest it in other investment instruments. There were cases when clients came to me, took out a copy of my book, opened this page and said: "Make sure that my capital is invested in the same way as those of these millionaires."

I repeat once again: your financial risks will be fully insured if you have your personal financial plan (LFP), which takes into account and diversifies all investment risks. LFP is a cure for financial problems.

This book is your road to financial security. That is, to gain control over your money and to manage it optimally. The author, a leading Russian independent expert in personal finance management, detailed how to set and adjust financial goals and what it takes to make your money work more efficiently for you with the right investment strategy.

You will learn how to find money for the realization of your life plans, no matter how many there are now. And not through austerity, but through competent planning of financial flows. The book will be useful to everyone who knows how to make money and wants to achieve financial independence.

Book characteristics

Date of writing: 2011
Name: How to make a personal financial plan and how to implement it

Volume: 280 pages, 34 illustrations
ISBN: 978-5-91657-201-8
Credit: Mann, Ivanov and Ferber

Foreword to "How to Write a Personal Financial Plan"

My book is intended for everyone who wants to learn how to manage their finances, using a balanced and thoughtful investment to increase their income. It tells about how to draw up a personal financial plan and how to implement it, what investment tools to use. In this book, as in my work, I have tried to speak clearly for everyone. Of course, you can't do without terms, but I hope both my interlocutors and my readers understand me.

I remember how in the early 1990s I worked at the National Bank of the Republic of Belarus. In those years, the independent banking systems of the countries of the former USSR republics were formed. This was a completely new activity. In Belarus, as in other post-Soviet countries, there were no specialists who understood in detail the work of the central bank, and everyone - from junior employees to the chairman of the bank - independently learned new operations.

At the head of the National Bank was a very competent economist, a real professional and experienced teacher, a professor at the University of Economics.

At one of the meetings with the chairman, the head of the balance of payments department reported on the state of the balance of Belarus. The report was full of many new terms and definitions, which the rest of those present at the meeting did not understand, but did not dare to ask again, so as not to show their illiteracy.

Soon the speaker was interrupted by the chairman: “What are you telling us here ?! Some terms that we do not understand! - he never spoke calmly, but exclaimed: - Speak Russian! "

Then the chairman addressed all those present: “You are employees of a state structure! You communicate with the people! Therefore, you should speak in such a way that even a second grader understands you! And Irina Mikhailovna says that even financiers cannot understand anything! - And he told the speaker: - Start all over again, and so that everything is clear to everyone!

I remembered these words for a long time. Since then, if I meet a person who, wishing to show his high professionalism, operates with many highly specialized terms, then I do not even try to understand the meaning of his speech and either ask to repeat everything in clear language first, or I bow.

I must say that often, when talking with financiers, I, a person who has been professionally involved in finance for 14 years, cannot understand what they want to say. Curious how customers understand them?

This book is also written in a language accessible to everyone. Most of my working time I talk not with professional financiers, but with those who do not know what financial risks are, how mutual funds and insurance companies work, who have never dealt with hedge funds. Moreover, among my interlocutors there are both employees and large businessmen who, oddly enough, also have a poor understanding of investment instruments and investment strategies.

In general, so much has been written about finance that if you decide to read everything, you will not have a minute to work with your money and create your personal capital. Therefore, I urge you to take action. I hope you will not only gain new knowledge from my book, but also get practical benefits. As you read the book, do not hesitate to start following the steps and recommendations that will help you gain financial independence.

Quotes

Determining the amount to be invested regularly is the most important thing in building a personal financial plan. Based on this amount, calculations are made that will show what you can have in the future.

Any bank, company, or government can guarantee the safety of capital. Therefore, you should pay attention to the fact that the guarantee is also given by an institution with a rating of at least A.

It's not about running fast, it's about running out early.

Millionaires plan their cash flows very carefully, analyze their investments. They like to sit in their office in the evening and see what happened in the week with capital, which assets have grown and which have fallen, are there any interesting options for investing, etc.

No investment in Russia can be considered conservative yet, since there is not a single institution with an A rating or higher in our country.

In fact, anyone can always find a financial reserve for investment. Anyone with any income! I have no doubt that if you live on $ 1000 a month, you can live on $ 900 almost as easily. If you manage to live on $ 100 a month, you can get away with $ 90.

Once again, I urge you to study the company before entrusting it with your money. Don't fall for cheap lures in the form of high percentages, remember that free cheese can only be in a mousetrap.

Any conversation with a person who is going to invest begins with the question: what are you investing for and what do you want to get as a result? As a rule, this question makes your interlocutor think.

In order not to belong to the absolute majority of those who cannot say what they want in life, it is necessary to formulate your financial goals.