- Budgeting
- Cash Management
- Consumer and Mortgage Loans
- Debt and Debt Reduction
- Time Value of Money 1: Present and Future Value
- Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- Insurance 1: Basics
- Insurance 2: Life Insurance
- Insurance 3: Health, Long-term Care, and Disability Insurance
- Insurance 4: Auto, Homeowners, and Liability Insurance
- The Home Decision
- The Auto Decision
- Family 1: Money and Marriage
- Family 2: Teaching Children Financial Responsibility
- Family 3: Financing Children’s Education and Missions
- Investments A: Key Lessons of Investing
- Investments B: Key Lessons of Investing
Lessons Learned
There are three important lessons to be learned from the “priority of money.”
- Different investment vehicles have different tax advantages. You are responsible for understanding the various investment vehicles available to you so you can make the best decision as to which vehicles to use.
- Utilize the investment vehicles that give you the highest after-tax return and that help you achieve your goals the fastest. Taxes are a drag on returns and reduce the amount of money that you have for your personal and family goals. By working to minimize taxes legally and honestly, you are increasing the amount of money you have to accomplish your personal and family goals.
- Taxable and retirement assets should be managed differently due to tax effects. You will not have just one portfolio of investment assets. You will likely have many separate individual investment portfolios that, all added up together, will be your total investments. Manage each of these portfolios as best as you can.
