Hi All,

There has been a lot of chatter in blogsphere and media about how to protect yourself against the current choppy economy. I’ve contributed to this as well, but in the interests of transparency, I wanted to tell our readers what we’re doing to adjust to this recession.

Nothing.

That’s right, we are doing nothing to adjust our personal finance because of the recession. We aren’t buying bonds, looking into beaten down stocks or buying shares on international markets.

What we are doing is sticking to our plan. Paying off our second mortgage and socking as much as possible into our retirement accounts. Why? For me, its really a matter of faith. I believe that the American economy will recover in due course and that our investments are sound. Also, more realistically we don’t have a lot of excess cash, and having fewer resources means its easier to stay focused.

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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