Building wealth, comparing risk
May 13, 2019
I’m Miriam Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money.
M Yes, its biblical to build wealth. Our culture encourages taking risks and being impulsive.
Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
Working diligently to gather money is applauded. Once you have it, determine where to invest.
V An important concept here is risk. Whether as a couple or individual, determine your risk tolerance. How quickly might you need that money? Educational expenses, vehicle. Money needed quickly should not be in stocks–it might be a down day–or real estate that might languish in a down market.
M Proverbs repeatedly advises us to plan. Know where and when you likely need funds before you invest them. That’s good stewardship