Making Money is Easier than Keeping it! Article by Lynn Phillips-Gaines | Phillips Financial

Skip to:


Making Money is Easier than Keeping it! Article by Lynn Phillips-Gaines

Making Money is Easier than Keeping it!

Article by Lynn Phillips-Gaines

Published on August 15, 2021, in Starkville Daily News

We get multiple inquires a week from people looking for where to put their cash. People who never would have considered taking on risks with this money look for any place they can go for yield. Savers are considering bond funds, which lose principal when interest rates increase, or annuities with surrender fees, which tie up your money and don’t necessarily guarantee the interest rate beyond your first years. We are not saying these investments don’t have a purpose; they do, but not for your emergency reserves.

In The Psychology of Money, Morgan Housel says, “If I had to summarize money success in a single word, it would be ‘survival.’ Investing is not necessarily about making good decisions. It’s about consistently not screwing up”. And this is where the entire art of asset-allocation comes into play—giving you the comfort to weather hard times with investments. An appropriate asset allocation can help keep you from making a catastrophic mistake.

See below for the full article that was published in the Starkville Daily News.