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

Friday, 18 May 2012

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

WRITTEN_BY Steve Temple
Wednesday, 15 September 2010 10:27
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)

There are twelve characteristics that a savings or investment strategy should provide if in fact it should be considered the “Ideal” strategy. Remember I shared the first one with you and you were to guess what the other eleven ideal characteristics were.

Here is #2. . .

GUARANTEES: DOES THIS CATEGORY OR TYPE OF MONEY OFFER GUARANTEES? Is this category or type of money assuring you of a controlled positive result in the future? Some guarantees may have a stipulation attached to them like keeping your money in an account for a certain number of years. Does an IRA have guarantees? Does the money or equity in your home have guarantees? Does that mutual fund you own have guarantees? For every type of money that you have, simply answer: YES or NO.

And Now #3. . .

PENALTIES: DOES THIS CATEGORY OR TYPE OF MONEY HAVE
PENALTIES ASSOCIATED WITH IT? This question is an important one that
you must understand. Many types of your money might have penalties
attached to them. An example may be: Are there penalties for early
withdrawal of an IRA? Are there penalties for not taking enough money out of
your IRA during retirement? Are there early withdrawal penalties for a bank
CD? How about a penalty for paying your house off too soon? Are there any
penalties in annuities or back-loaded mutual funds? For each category or
type of money simply write YES or NO if penalties exist.

I will reveal #4 and #5 next week. Have a great week.

Read 308 times

Published in Today's Lifestyle

Social sharing