September 11th, 2009
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You might think about savings and investment in isolation. But, what you really need to focus on is the fact – what would you like your money to do for you? Once we are decided about the manner in which the money is slated to be used in future, an effective investment strategy can be formulated. This is also related to the prospective performance of your investments, as it would be a marker for your savings and your financial status.
Asset allocation plays a big role here. It will help you determine the portfolio returns and aid you to devise mechanisms through which you can improve them. It can aid you in mitigating the risks involved. If you are able to devise a effective plan to diversify your major asset classes, in the form of cash, commercial property, fixed interests and equities investment, to name a few, you would find yourself in a better position to manage your investment.
Each investment portfolio incurs a specific variant of risk. So, as you develop a precise idea of your investment requirements, building the rest of the strategy would become easier. Be it the purpose of investment, the time horizon for the investment, the amount of risks undertaken or the corresponding security you stand to attain. These are all vital factors that need to be considered to efficiently safe-guard your savings.
Written by srini on September 11th, 2009 with no comments.
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Stephen Girard was a Frenchman born on 20th May, 1750 and is still regarded as one of the richest and influential Americans of all times. He was a sailor, entrepreneur and philanthropist and a banker who had single-handedly saved the financial distress of the US government during the War of 1812. He had immigrated to America at an early age and from then on, he embarked on his enterprising nature and made good use of his entrepreneurial skills as he became a millionaire who had a say in the country’s financial status too.
Believed to be the fourth richest Americans of all times, Stephen Girard had his fortune estimated with the ratio of the prevalent GDP of the nation! Being childless, Stephen committed most of his wealth for the education and welfare of his orphans. Girard resided in Philadelphia and married in 1776.
The charter of the First Bank of the United States expired in 1811, and Girard decided to buy most of its stock, the building and its furnishings on the South Third Street in Philadelphia. He rechristened it as Girard’s Bank. He was the sole proprietor of the bank and hired George Simpson as the cashier along with seven other employees to embark on this journey towards becoming a millionaire. This was on 18th May, 1812. Later on, it merged with the Mellon Bank and a decade later purchased by Citizen’s Bank.
Written by srini on September 11th, 2009 with no comments.
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