They are on guidance from their Lord, and it is these who will prosper (be successful).
2. Surat Al-Baqarah (The Cow; 5)
We are embarking on a new journey, but do we know exactly where the long and winding road leads to? Before we embark on this journey in Islamic Personal Finance, we need to know where we should be. Like Stephen R. Covey said, “begin with the end in mind”. It's a difficult question to answer, especially when it's about our financial future. Is 1 million dollar the magic number we all need to have upon retirement?
Your Money Ratios: 8 Simple Tools for Financial Security, a book which I highly recommend (read reviews by thesimpledollar.com and thewisdomjournal.com), serves as a good guide to finding the specific point on our prosperity based on our age and income. Example based on the calculator provided by the author here, a person at the age of 25 with an annual income of $30,000 should have a savings of at least $3,000 or $3,600 if saving 12% of income.
Now, we have a clear picture of where we are, should be, or would've been at this point in time.
No comments:
Post a Comment