Does Your Money Do This...Part 1?
"One of the greatest pieces of economic wisdom is to know what you do not know"
~John Kenneth Galbraith
In 2010, I began learning about financial vehicles that could protect my retirement nest egg while earning respectable growth. The 2008 financial meltdown is what led me to wanting to learn more, become licensed, and the desire to pass this information along to others.
One of the resources that helped me the most as I was learning was coined the "Test of Ten". It asks ten questions, which most people can answer yes or no to regarding their own investments and retirement accounts. Over the next five weeks, I will reveal these 10 questions. If you answer 'No' to any of these questions, it might be time to learn about better places to put your hard-earned money.
Test Question #1: Does your investment create an "Instant Estate" or "Death Benefit?" For example, does $4,000 into real estate, mutual funds, 401ks, IRAs generate a $100,000-$250,000 death benefit to leave behind for your kids, grandkids, spouse? (Yes or No)
Test Question #2: Are your investments creditor proof? A couple examples: Is your home protected from liens if you owe someone money? Can the IRS or other creditors freeze your checking or savings accounts and take money out without your knowledge or permission? (Yes or No)