Checking Your Personal Life Before You Invest
In This Chapter
Calculating how much you have
Drawing up a family budget
Taking care of life and limb
Paying into a pension investment
Checking the roof over your head
- Investment truth #1: Losing money is easier than making it.
- Investment truth #2: More domestic break-ups and rows are caused by money, or rather the lack of it (or the spending habits of one partner), than anything else. Money is more important than love, any day.
- Investment truth #3: You’ll be a better investor if you’ve secured your home base – getting a roof over your head whose costs are sustainable is the vital first move. Buying, if you can, is usually better than renting, so a mortgage is the number one investment. Provided, that is, that you can find the deposit.
- Investment truth #4: Paper profits have no more value than the piece of paper they’re written on. What your investments are worth on a statement is just a row of figures. Until you turn that ...