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Wednesday, July 18, 2012

What the Bible Can Teach You About Investing Today | Breakout - Yahoo! Finance

What the Bible Can Teach You About Investing Today | Breakout - Yahoo! Finance
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  1. RAYLOKEJuly 18, 2012 at 11:30 PM

    proverbs and how their meanings apply to investors of any faith.

    1) Establish Written Financial Goals


    "The plans of the diligent lead to profit as surely as haste leads to poverty." -Proverbs 21:5

    Write down your end target then determine your steps towards getting there. A little bit at a time, all of the time, is a wiser plan than taken frantic all-or-nothing shots.

    2) Save and Invest Before You Spend


    "Put your outdoor work in order and get your fields ready; after that, build your house." -Proverbs 24:27

    As Blue puts it, "don't spend in the short-term because you won't have it in the long-term."

    3) Keep a Long Term Perspective


    "Suppose one of you wants to build a tower. Won't you first sit down and estimate the cost to see if you have enough money to complete it?" -Luke 14:28

    In other words, know what you need to set aside to reach your savings goals. Your time frame is going to vary depending what your personal goals. Saving for college may be a 15-year strategy while retirement planning could involve more than 40 years. The runs are different depending on the size of your intended tower.

    4) Diversify Your Portfolio
    ......

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