Investing 101: Getting the most bang for your buck...
You take 50,000 to the bank. You hand it over and tell them "You know, I HOPE I earn interest on this, but if I don't, I'll keep it here because one never knows when it will pay off, right?...So, here, have my money and we'll see what comes out of it".
You feel very secure with this bank, and you are happy to invest with them....even though they've promised you nothing. You then happily fork over your hard-earned cash and skip out the door...
You are full of anticipation and excited about this bank. They hold the promise of your future. You call your friends about the bank, and get upset with the ones that aren't as enthused about this as you are. You are convinced they are jealous because well, they don't have such a trusting and hopeful relationship with their banks.
A few months goes by. You've been very nice to the bank since you had your first contact, and initial deposit. Actually, you've gone out of your way to make sure that they see you in the bank, looking very pretty. They are polite to you when you're there, but aren't trying too hard to jump through hoops for you.
You've even called several times, but they haven't returned your calls...that's okay, they are busy. The ocassional times they've called you, you've jumped on the phone eager to talk to them, but the conversation concludes leaving you slightly confused and a little disappointed that they couldn't tell you more about what your money was doing.
*sigh*
Yet, you'll hang in there because you really, really LIKE this bank and you feel such a connection with the bank, and eventually you just KNOW that the bank will call you with fabulous news that your 50,000 dollars is finally hitting pay dirt!
Meanwhile, your friends are all very happy with the investments they've made and are off on a French Riveria cruise. You wanted to go, but couldn't. You're at home. Alone. Staring at the phone. Hoping that the bank will call you.
If your emotions were your money - would you tolerate 0% interest? NO and HELL NO. You'd take that 50 grand and sock it into the highest interest bearing account that is available, and do it so fast it would make your head spin. It would start earning money the MINUTE that you said a sexy little "HELLLLOOOOO Money Market Account..."
Respect yourself enough to be discriminate about WHO is entitled to YOUR emotional investments. If you aren't getting a return, LEAVE it. The market is full of competitors that can't wait to get their hands on your stash of cash.
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Check my listing as I will be running specials
throughout April.
It's my 6th Year Anniversary
of providing advice on Keen.
(Actually, it's 6 years ago TODAY)
I am extremely grateful for the wonderful clients
and the friends I've made through this network!
Sending you angels for a joyful Thursday!
Jane