Hi All,

A few years ago my wife and I were in a Washington Mutual branch in Eugene, Oregon. We were waiting in line at the teller window. While we were chatting, we were asked if wanted the chance to buy some variable annuities. We read the fine print and saw that buy the annuity would have cost us 6% annually – a very high rate.

The moral of the story is, don’t get suckered into a complicated financial product you don’t understand. They generally will not allow you to build wealth, which is your primary goal! Sometimes the complexity can camouflage a high fee structure – or worse.

Best,

James

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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