moneyFYI
Financial Freedom Is Merely Organized Common Sense
Answer To A Common Question
A question you notice frequently is some version of this. “I have X dollars. What is the best way for me to invest it?” It Doesn’t matter if X is $2,000, $2,000,000 or the one I noticed yesterday, $100,000,000. The key to assessing the right answer is in the question itself. It asks for a tactic with no context. The answer should be, “I don’t know, and neither does anyone else.”
The question is about “How?” How questions are universally tactical. Tactics vary. The answers define a method. Sadly, these questions have no answer until they are attached to a strategic purpose. What do you want the money to do for you?
For example, how should I invest $10,000 to learn about investments and accumulate money for retirement in 30 years is not the same question as how should I invest $10,000 so I will have $15,000 to buy a truck in a year.
You will find that tactic-deciding questions are poorly answered in the absence of a clear purpose. Strategic questions will naturally include the context of what is reasonably possible given your inputs other than money.
Be careful to think through strategic purpose before attaching a method to achieve it.
I build strategic, fact-based estate and income plans. The plans identify alternate and effective ways to achieve spending and estate distribution goals.
Be in touch at 705-927-4770 or by email at don.shaughnessy@gmail.com.
moneyFYI 