Okay, so there are a ton of different kinds of financial products out there: certificates of deposit, savings bonds, mutual funds, money market funds, stocks, etc. etc.

How do you determine what is saving and what is investing?

Its seems like a silly question, but its important because different financial products are better geared for saving and others for investing. Savings should allow you to keep and hold the value of your wealth, while investing should help you build and create wealth.

A quick rule of thumb is that if you don’t need the money for more than 5 years, invest it. If you need the money in the next five years, save it

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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Budget Template
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Net Worth Template

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