Bank Failure Friday

And another bank has failed. This time its Eastern Florida Financial Credit Union.

Here is some CNN coverage on last weeks failures (CNN).

Whats sad is that its not even big news these days.

Update: here is another one – North Jersey Community Bank (MarketWatch). Dang.

Update2: Geeze. Yet another bank has bit the dust. This time its Utah Based America West Bank (MarketWatch). I think this makes 33 so far this year.

Best,

James

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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