12. Always be in control of your money

23 keys Dec 13, 2019

Don’t be the person who finally builds up their retirement only to lose it all in some mutual fund that they had no idea who managed, let alone what it was invested in. You can’t blame anyone for losing your money because you are the one who decides where it goes. Again, it’s about taking responsibility. If you give your brother-in-law money to invest in some deal of a lifetime and it crumbles, it’s not his fault. It’s yours.

You are always in control, so take control. Get a Self Directed IRA and invest your money yourself and your way. Don’t hand your money over to a large group fund and expect them to treat it with the same respect that you do. You earned it. Now learn how to grow it. We can direct you to many great resources to help you do just that. However, a very wealthy man once said, “Never invest in anything that you are not an expert in.”

The good news here is 20 minutes of reading each evening on any particular subject will make you an expert in about a year on that subject. Take control of your finances and only invest in what you know and understand.

Next - Step #13

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