Sustainable Investing - How To Invest Your Money By Doing The Obvious
I was busy baking cookies and washing up dishes when the phone rang. As I juggled dish towels, phone cord and running kids, the voice on the other end told me that she was a client from over a year ago and promptly began updating me on the financial status of their family.
l was congratulating her and her husband for their diligence and hard work when we got to the purpose for her call. They had just found out about a 'Wonderful' investment opportunity and they sought my viewpoint of the company and the situation. Usually, I absolutely revolt at informing individuals what to do with THEIR money. Firstly, I'm not a trained financial professional and always defer to such people in these sorts of situations. Second of all, I don't know all the hopes, dreams and goals you have as an individual for your cash, so why should I provide you direction on what to do with YOUR money?
However, considering that I had coached this family before, I listened politely as she breathlessly told me of this incredible financial opportunity and how they were seriously thinking about taking the $5,000 they had strived to save for more than a year and invest it with this one company. I then calmly questioned, "Okay, but have you and your husband maxed out your IRA contributions for this year?" There was a knocked up pause on the other end before she meekly said, "Um. No." "Well, before I would shell out dime one on any investment, I would make sure that I had made use of the maximum allowable contributions to all the tax advantaged accounts the federal government gives us."
This is the thing, my frugal friend. I know it isn't sexy and bold and exciting, but the accounts that are IRAs, 401k's and 403b's are a fantastic and steady approach to invest in your future. Before you go for riskier investments, go with what works first! Go with the Obvious! Are you doing the obvious? Are you investing with accounts which are tax advantaged for you? If you don't even have a retirement account open, then make your first investment goal that you open one this year.
Mr. Schwab responded, "Buy index funds and ETFs. That might not seem like sufficient action for a 25-year old, but it's the wisest thing to do. Place most of your energy into your work and learn to communicate. I think the people who become truly triumphant are those who sense what others are feeling and how to make them at ease."
Article Source: FxTradingStock.com
About the Author
If you are looking for the best Sustainable Investing, you can read reviews from people who were able to avail of their services before you. This way, you will be able to learn from their experiences. If you are looking for the best service, go here: Sustainable Investing
by: John Summerlake
Total views: 32
Word Count: 437
Date: Sun, 11 Jul 2010
Publish/Share this article
To use this article on your site click here to get the HTML code
Rating: Not yet rated
Login to vote
Related Articles
How to Invest in 2011 and Beyond Without a ClueWhat Is Forex Trading?
Quick Way To Trade In Shares
ATM Calendar Spreads, Are You Aware Of The Hidden Gotchas?
Emini Day Trading Requirements
The Coming Death Of The Dollar
Fantastic Fundraising Suggestions
Winning Big In The Share Market
