Page 40 - Workbook3E

C Invest Today for Tomorrow
Along with savings, investing is the other valuable tool to help you increase your capital worth. You may find it intimidating, but it’s not as hard as you may think.
Choices, Choices, and More Choices
There are endless choices for investing, so as you sort through them, consider these three questions:
1 How Will the Investment Improve Your Life?
Investment in personal assets may drastically affect this question. Investments like a principal home, vacation home, or rental property— furnishings, automobiles, clothing, jewelry, and so forth, are valuable personal assets that may be considered investments. Investing in land for agriculture to raise your own food, or investing in your own business to provide a livelihood may also affect this question.
2 How Safe is the Investment or Strategy?
Does your investment portfolio allow for increased risk with certain investments, or do your investment goals require a more conservative approach? Do Not stray from the investment program you’ve designed. If an investment doesn’t bring you closer to your written goals, avoid it.
“You should
never spend your investment capital
on consumer goods; but at the same time, sitting on a rock doesn’t offer the same attraction as sitting in a rocking chair.”
~ A.W. Bown
36 Workbook 3: Prepare for the Future