Episode 17: Where to park your savings
Save first, worry about rate of return later. First work on accumulating your nest egg, building your net worth…then worry about getting investment income. Variation of Mark Twain quote: You should be more concerned about the RETURN OF your principle than the RETURN ON your principle.
So where should you house your nest egg? We discuss: 401k, ROTH, IRA, Bank Account, 529 Education
— Be cautious of investment vehicles that have restrictions or high fees
What asset class should your savings be in? We discuss: Cash, ETFs, Mutual Funds, Stocks, Bonds, Real Estate
— Dollar cost averaging is a savings method…Trading is an investment strategy
—– Trading can be used as a hedge to protect against a market in correction
EVERYTHING involves a RISK…including BONDS !
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