Every week, Doug Andrew is approached by people who have been viewing his 3 Dimensional Wealth YouTube channel. More often than not, they come to him with questions about the best way to save for their long term goals.
Doug defines long term goals as any financial goal where you are setting aside money for a need or a want that’s five years or longer down the road. This would definitely include saving for retirement or a major purpose such as a home or college funding for your children or grandchildren.
One of the biggest mistakes that people make is they choose short term investments for long range goals. As Doug explains in this episode, that’s not the way to go.
HERE IS A SNEAK PREVIEW OF A FEW OF THE IDEAS DOUG SHARES IN THIS BROADCAST:
- Is putting your long term money in a savings account in a bank or credit union a losing strategy? Learn why time and interest aren’t on your side as well as better alternatives to grow your money.
- Why are tax-free savings a safer vehicle than tax-deferred savings? Doug spells out the advantages of paying those taxes on your seed money and being done with those taxes forever..
- Why should you take care not to choose your long term investments as if they were for a short term goal? Anyone who struggles with resisting the urge to dip into their savings needs to hear Doug’s explanation.
- How can you know that you’re making a prudent investment? Doug spells out some of his favorite time tested strategies that he’s used over the past 45 years.
- What is the LASER fund and why should you consider one for your long term goals. If having liquid assets safely earning predictable rates of return sound appealing to you, you’ll want to hear Doug’s take.
- Are there investments that would allow you access to your money, when you need it, without undue taxes or penalties to pay? As Doug explains, such investments definitely exist and are worth your consideration.
- And much, much more…
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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment.