While working on paying off debts, using the 10, 10, 10 and 70 formula from the book Richest Man in Babylon by George Clason, you will find enough amount of money to put in your investment fund. For a busy person like me who would like to make his money grow, a Unit Investment Trust Fund (UITF) would be a good option. This kind of investment will allow you to invest to different types of funds with less time to spend for managing your portfolio. Since it’s a part of your investment, the money should be kept invested so that you will make your money earn more money for you.
Unit Investment Trust Fund is an open-ended pooled trust fund is operated and administered by a trust entity and made available by participation. Each Unit Investment Trust Fund product is governed by a Declaration of Trust (or Plan Rules) which contains the investment objectives of the UITF as well as the mechanics for investing, operating and administering the fund.
Most UITFs are considered medium to long term investments. You should consider investing in UITF to stay invested in them for a reasonable period of time in order to maximize earnings potentials.
Some types of Unit Investment Trust Fund are money market, bonds, stocks or combinations of these. In my case, I invested in a UITF that invests with stocks; and for simplicity, I selected the fund that mimics the investing strategy of an index fund.
With the little money budgeted for investing, I can put additional paid-in capital on a monthly basis.
Watching your investment funds grow slowly will be another motivation to keep you moving to your goal!
Leave A Response