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Response; 25-Year-Old Business Professional

My friend Paul has adopted several ways to manage his business, most of which have been working while others are still not fully functional. He is 25 years of age, and he is still single. He just finished his master’s degree in business management, and he is currently an assistant manager at a local store. Even though his pay is not very big, he hopes that with time, he will be able to get more money and do all the projects he wants to do. His savings, risk management strategies, and investments are still are an enjoyable part that I have wanted to know for some time. I got the chance to talk with him, and he explained to me how he managed to do the three activities professionally and in the right way.

His savings are still very few, or instead, he saves less amount of money than he wants to save. However, he informed me how he works with only using his money for essential items and activities; then, the rest is saved. He has a specific amount of money that can enable him to go throughout the month without getting to the savings. Therefore he does save a considerable percentage of his salary. He desires to invest in real estate, and he plans to continue saving till he gets enough amount to enable him to get into real estate and become fully established in that area. However, right now, he has a fixed account which helps him to be able to get some little profit.

On the side of risk management, he informed me of how he has some money set for emergencies and risks. Even though he is not fully established in the business world and still working, he feels that he will have to even plan for more significant risks and know how to manage them when he becomes a full-time entrepreneur or businessman.