The Springfield Paper | “Defining Moments, the Thought Process” The Money Matrix Continued

Saturday, 11 February 2012

“Defining Moments, the Thought Process” The Money Matrix Continued

WRITTEN_BY Steve Temple
Wednesday, 08 September 2010 10:40
font size decrease font size increase font size
Print
Email
Be the first to comment!

Rate this item

1
2
3
4
5

(0 votes)

As I continue this discussion, you will you will acquire a sense of understanding on how money works as you a apply a “logical litmus test” to measure the effectiveness and usefulness of your money. It is important to remember that way too much emphasis is put on the “rate of return” mentality and too little on how money can work for you.

There are a number of categories that the money you have right now may fall into. You can have IRAs, 401Ks, Roth IRAs, defined benefit programs, SEPs, mutual funds, bank savings programs, CDs, stocks, your home, real estate, your business, possible inheritances and life insurance. You may be able to think of more but these are the most general categories of money that you might have. If you take each one of these categories and list them in a column, and ask the following questions of each one of your money categories, you will discover the efficiency, effectiveness and safety of the money you have.

There are twelve characteristics that a savings or investment strategy should provide if in fact it should be considered the “Ideal” strategy. See if you can guess what the twelve are and send your comments to This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Each entry will be entered in a drawing for $25 gift card for the restaurant of choice. Penny Reeves will draw the winning entry on Tuesday September 7th. All email entries MUST be submitted by Sunday September 5th.
I will give you the first answer:

RISK! Do you desire a strategy with tremendous risk or minimal risk? The obvious answer if “low or minimal risk”

Now see if you can list the other eleven! Have fun, I will continue our discussion next week. In the meantime have a safe and happy Labor Day Holiday.

Read 117 times

Published in Today's Lifestyle

Social sharing