Wednesday, March 10, 2010

The Four Wallets: A Map to Money Town

Preparing for a trip to Wealth World? Better get yourself a map. We’re not talking about a photo guide to the stars homes in Hollywood here or exact street directions from the Google satellite guide to the planet. That would be great, but mapping out a plan to wealth requires a little more flexibility since daily living is utterly dynamic.

What we’ll do instead is create the framework for the plan. This will give you structure and freedom. The structure part is like the architectural wall in a building. This will define the spaces, and hold up those special comforts like walls and roofs. This structure will not get into specifics like what kind of walls you’ll have or how you’ll end up decorating. You will define those items as you start filling up the various rooms or “wallets”.

The four wallets is a framework to setting up the basic structure to start and maintain a savings and investment strategy. This part of you planning is to determine HOW MUCH there will be available for these activities.
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