In Loral Langemeier book Wealth Cycle Investing, on page 57, She talks about money rules and taking control. Your money rules are determined by your current situation and financial objectives, and they help you decide what to do.Money Rules for Investing:Decide whether you want to be an active or passive investor.Are you looking for money now (cash flow) or money later (appreciation)?Decide what kind of return you want on your investment annuallyWhat are you liquidity needs? Do you need to keep cash on hand or readily accessible for your needs?What are your tax ramifications? How will your taxes will be created or minimized by your investing? Investments can create huge tax liabilities or create huge tax deductions.Finally, what are the risks and rewards associated with your investment? How do you measure these variables? Do you have the tendency is to discount the risk and over-rate the reward?I am inviting you to check out my resources page. It is completely FREE and has a ton information and some downloads. You can find it at resources.xpansioncode.com.I will be releasing new episodes every Monday, Wednesday and Friday!
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