Diversification Delivers: 21 Day Financial Fast_ Day 9

Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land. Ecclesiastes 11:2

13 Days to Go: Investing for Your Future

Main Point: Understand that when you invest, you put your money at risk.

My Pledge: I will examine my investments to make sure I’m well diversified.

Daily Assignment: Visit a website that explains the basics of investing. I’ve already listed several, but at least start with www.finra.org or www.mymoney.gov.
Review your investment statements-including your retirement account and your children’s college fund. Look at where and how you’ve allocated the money in your 401(k) or other retirement plans. Is it spread across various asset classes? Or have you concentrated your contributions in just one or two types of asset categories? In other words, is your money all in one basket?

If you are not investing, make the commitment today to begin investing for your future. If you are eligible for a 401 (k) plan at your job, start contributing to it. If your employer doesn’t provide a retirement plan, resolve to invest anyway. You can open an IRA. To find out more information about IRA, go to www.ivestorprotection.org. Read “Maximize Your Retirement Investments.” You can also find information on how to open an IRA at www.choosetosave.org.

My Response: I am currently unemployed, so there is no 401 (k) for me to invested in. However, I am working towards being self-employed and will look into opening an IRA account for myself.

Taking a journey down honest avenue right now...I have yet to write down my budget. Why, you ask? I have no clue! I will committment today to set aside Friday night to work on my budget, however, hard it is for me to do.

Pray for me, because I need it!!!