This recent series has been all about Saving Money. Just as with any task, saving money can be broken down into stages. In this case I outlined “4 Quadrants of Saving” to illustrate how each quadrant (or stage) builds on the previous one, and how the task can be made more achievable.
Continue reading “Quadrant #4 of Saving: Protecting Your Savings”
More on Saving. Saving is a critical subject at all ages — for the simple reason that savings and investments give people choices at various points in life. In my latest series, I have broken down the concept of Saving into “4 Quadrants”:
Continue reading “Quadrant #3 of Saving: Personalize Your Savings Plan”
Last week we explored Quadrant #1 of Saving, or Personal Vision. This week we take the next step beyond vision to build a portfolio that attempts to bring the vision to life… at some point in the future.
This is what “Quadrant #2 of Saving” is all about: Building a Portfolio.
Unfortunately, this step is often mistakenly addressed first (prior to the vision step) by investors and less-qualified advisers alike. Why? Because the portfolio is the part everyone likes to talk about! Of course, the portfolio is essential; but success depends first on Quadrant #1 and addressing the “Commonly Overlooked” items (see last week’s edition). A plan must be in place to build the savings that go into the portfolio — no savings, no portfolio. Continue reading “Quadrant #2 of Saving: Personal Vision”
What are you saving your money for?? Or maybe I should take a step back and ask, ARE you saving?
Life is a lot easier with savings in the bank (no ####, Sherlock). However, the act of getting around to saving money may be one of the hardest tasks to achieve in life. It can help first to figure out for what — and when and with whom — would we even save in the first place? Accumulating savings can be much more attainable after asking yourself these questions. From here, a “savings plan” can begin to form.
Continue reading “The 4 Quadrants of Saving”