Chapter 3
Getting Your Financial House in Order
IN THIS CHAPTER
Saving money for emergencies
Managing your debt and setting financial goals
Funding retirement and university savings plans
Understanding tax issues
Exploring diversification strategies
Before you make any great, wealth-building investments, you should get your financial house in order. Understanding and implementing some simple personal financial management concepts can pay-off big for you in the decades ahead.
You want to know how to earn healthy returns on your investments without getting clobbered, right? Who doesn’t? Although you generally must accept greater risk to have the potential for earning higher returns (see Chapter 2 in Book 1), this chapter tells you about some high-return, low-risk investments. You have a right to be skeptical about such investments, but don’t stop reading this chapter yet. Here, you find some easy-to-tap opportunities for managing your money that you may have overlooked.
Establishing ...
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