Key Financial Concepts

Have you heard the saying “Time is money?” Time is literally money! The more time you give your money to grow the more it could become. Now unfortunately, a majority of people today either have a lot of time or money. They rarely have both.

This is where we need to slow down and start thinking about our future. Elana Malekan Financial Professional provide solutions to assist our clients as to how to put sturdy financial foundation in place for a successful financial future.


Achieving financial freedom and strength is not easy. It takes dedication and commitment. While many would like to achieve these goals, the fact is that many of us are simply not equipped with the skills to achieve these goals. Our education system does not teach the ‘practical’ aspects of managing money. Barring some gifted individuals, only those very few who have taken advanced courses in finance or economics or have acquired an MBA have the knowledge and skills to manage their finances effectively.


Money 101:


When it comes to developing a sturdy financial future, just like anything else in life we must have a solid foundation. Many families think planning is very difficult; however, it is fairly simple. It takes a good level of discipline and commitment and it could be done. A lot of us today have the knowledge and resources but what good is it if not known as to how to apply our knowledge? We like to introduce a basic 1-2-3-4 Step foundation to a sturdy financial future.



Step 1: Manage Your Money Wisely


  • Don’t spend more than you make
  • Manage your debt
  • Establish an emergency fund
  • Set financial goals




Step 2: Protect Your Income and Your Family


Protecting your income and your assets are key factors to secure your financial life




Step 3: Accumulate Assets


You need to understand:


    • The effect of inflation

Many fail to recognize and realize as to how inflation can affect our financial future. Such a basic concept tends to be dismissed when it comes to planning for our financial future.


    • The power of compound interest (Rule of 72)

Most families fail to realize as to how powerful compound interest and unfortunately, many don’t know as to how to apply compound interest to work for them rather than against them.


    • The effect of taxes

If you have ever received a paycheck, you should be familiar with something called “tax.” But many fail to get familiar with other types of taxes, especially when it comes to us growing our money.


    • The effect of risk

Many families have experienced big booms in the market with great gains in their portfolios; however, recently, many of us have also experienced tremendous losses in our retirement or investment accounts. Many have now seen as to how risk can really affect their financial goals when risk is associated with our retirement savings.




Step 4: Preserve Your Legacy


Creating a legacy could take decades of hard work and effort. Protect what have developed over the spam of your lifetime and transfer of wealth in a proper manner by planning where the right person can carry on that family legacy.


We have paved the way to make it simple to make safe and sound decisions for your family’s financial future.