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Into Mutual Funds? Be Sure To Diversify

Diversification is a big attraction for many investors who choose mutual funds. Here’s an example of why: Suppose you heard that Phenomenal Pharmaceuticals (example name) has developed a drug that stops cancer cells in their tracks. You run to the phone, call your broker, and invest all your savings in shares of Phenomenal stock. Five years later, the Food and Drug Administration denies the company approval for the drug and the company goes belly up, taking your entire nest egg with it. Your money would have been much safer in a mutual fund.

Your 1st Step To Financial Freedom: Putting All Of Your Debts In Writing

Today you’re going to write down everything you owe your creditors. That’s right, everything— from your student loans, to mortgages, to credit card debt, medical bills, auto loans, etc. On a piece of paper, make a complete list of your obligations and here’s what you should write or type out on the sheet: Include the name and phone number of each creditor, your account number, the interest rate you pay, the total balance due, and the minimum monthly payment.