When it comes to our money there is no such thing as luck however this little play on words may provide a good piece of information for your thinking.
L: The L stands for Liquidity. A very important part of your thinking with regards to where you put your money should be is some of it liquid? Certainly not all of our money needs to be in a liquid position but if all our resources are tied up with no access we can find ourselves in a tough situation down the road. It is recommended by many that one should have at least six months of income in a safe, liquid, account. Without liquidity one can find themselves in need of money and be forced to borrow on credit cards or bank loans requiring interest. Any interest paid out is reducing the interest you could be earning.
U: Use of your money also plays an important role. We all have times in our life that we have a need come up and we have a need for money. Do you have access to money that you can use when the situation arises?
C: The C stands for control. Who is in control of your money? The government is in control of our qualified plan dollars, the mortgage company is in control of our home equity, the finance company is in charge of our cars. Do you have money in places where you are in control?
K: The K stands for Knowledge. If you are going to have the LUC we just talked about you will need the knowledge necessary to manage your resources.
Give us a call and let us pass on some LUCK to you.