Sometimes I find that I’ll have 25 or 30 dollars cash in my wallet (if I’m lucky!). Being someone who is interested in building wealth, I’ve often puzzled over how to efficiently purchase assets when all I have is this small amount of hard cash on hand.

I’ve come up with two answers, both are unsatisfying.

1) Savings Bonds: The minimum for a series EE is $25.00. This is great because the amounts are small, but the rate on EE bonds barely keeps up with inflation.

2) Small Amounts of Silver: There is a great dealer in DC who sells American Eagles or bullion rounds for a couple of bucks above spot. Again, this is great because silver usually retails for less than $20.00, but the dealers price is retail, so you immediately start off 5 to 10 percent in the hole, depending on the transaction costs.

So, dear reader, if you have an idea of assets that can be purchased with small amounts of cash, feel free to leave a comment. Believe me I’d love to hear it!

Best,

James

p.s The DC dealer is great and I highly recommend him. The name of the place is Capitol Coin & Stamp. The telephone number is (202) 296-0400, 1001 Connecticut Ave. NW # 745, Washington DC, 20009.

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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