In times like these, you need to be in touch with your money.
Literally, overnight, we’re on the cusp of losing the Senate and much, much more.
Making sure your financial plan is airtight is front and center like never before. I want you to get out a piece of paper (do it now) and draw a line down the middle. Write down what you own on the left side, and what you owe on the right. Your goal is to make sure that what you owe is not only less than what you own but that it gets down to ZERO.
You’re not being helped by the Fed holding rates at zero. When you lose money simply by saving it, something is wrong with the system. When you need to pay money to lend it, something is wrong with the system.
Bonds are dead? HARDLY. Make sure you understand how bonds work and how you can put them to your advantage. Remember, when it comes to the capital structure of any business, it’s the credit holders, not the equity holders, who get paid first.
I want you to understand this and how it relates to my back-of-the-envelope exercise. I want you to see that if you owe money, you’re a bond seller, not a buyer. Be a buyer.
Action Line: You need to find a way to be a bond buyer. I can help. Do it for you and for your children.
Originally posted on Your Survival Guy.