I have a lump sum of $$$ and....

....I do not know what to do!
This has always been a common question asked however in light of our current financial market, this is being asked with "panic". So let me guide you through an exercise:

For this exercise, I am going to use a sum of $100k. Now, ask your self how you would feel if this sum was reduced to $75k over a 3 month period. That's right, your feelings. Would you be angry, frustrated, in a panic, fearful?

Now, what if the market was reaching high levels such as a bit over a year ago, over 14,000 on the DOW, but your lump sum only grew to $105k? How would you feel now? Don't fool yourself, you would be down right angry! The point I am trying to make for you is we are greedy and want all the positive opportunity with no risk.

When you have a lump sum of money, no matter how it came about, ie. an inheritance, 401k, a bonus of some type, etc., I always want you to think about the purpose of this money and how important it is to preserve this. Even if there is little growth, the bottom line is you want to at minimum preserve the initial amount.

Now, what I am saying is to look at protecting that sum of money. Most have worked hard for this money or are the goals of lost love ones. When you have time before using moneys, continue contributing to your IRA's, 401k, savings accounts, taking advantage of systematically adding more money or what we call Dollar Cost Averaging.

(This is my first blog on this sight, but have been writing blogs for sometime now. So you have a formal introduction to me: Insurance Concepts
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