All, doing a 5 minute freewrite. Thank you for reading.
Joseph was always skeptical about investing, his felt that this is a game for the big boys and he will be badly hurt with heavy losses after seeing so many of investment failure happening reported in the news.
Whenever being approached to take out some money to do investment, Joseph will just say no to it. However, things took a change after Joseph met his primary school while having a coffee at the cafe.
His primary school teacher mentioned to him. While it is good to continue saving via own means from salary and expenditure reduction. However, with rising inflation rates and also the need to bulk up savings a little, he probably cannot keep to his current practice as the interest rate is unable to combat inflation. Joseph's teacher then told him, why not consider to start with a small amount in a savings plan with a much better interest rate, and only put in the amount that he is comfortable with that will affect his livelihood.
Joseph knows that his teacher meant well for him. He out ten thousand dollars and started on savings plan. Within two years, he was glad that his invested amount grew in value and slowly changed his perspective towards investment.
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