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Posts Tagged ‘wealth building’

Living in Colorado (where I live) has its advantages for business. But the weather is not always pretty. But down on the southeastern coast, the things a bit scary. No matter where you live down there, if you’re on the coast you always have the nagging feeling that it’s just a matter of time before you whacked by a devastating hurricane.

Anyway, here’s the reason I bring this up: Just like the weather … hurricanes There are financial hurricane, too – which may at any time and (if history is any indication) unleash misery galore on the unprepared happen.

Here are some ways to a friend once sent me to prepare for them. And, if you’re really sharp, profit from them:

1. Multiple Income Streams Having only one income stream is DANGEROUS now. If you, then you can do worse than building a second (and third) as soon as humanly possible. With corporations and shady people running them, the financial suicide to rely on just one income!

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Most people who invest in mutual funds do not know what they are doing. They take advice from someone with a bank or perhaps a friend and plop money into a fund. Sometimes this strategy works, but most of the time, it is not.

When you invest money in a mutual fund, you trust someone to invest in the stock for you. Because of this, you want to be sure that this person knows what he or she is doing. Also, want to make sure that this person is not charging you too much to manage your money for you. Mutual funds fees are ‘hidden’ in the sense that they do not charge you an upfront fee but a percentage of the amount of money in your account. If this percentage is too high, you’d better just blindly picking stocks yourself.

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