Today we are going to play a little game we’ll call, ‘Investment or Not?’ People will try to justify a purchase by calling it an investment, but just because you spend a little extra money on something doesn’t make it an investment.
On today's show, we examine the definition of an investment and explore how investing is not just about stocks and bonds. We’ll present Victor with various scenarios and find out if he would classify them as investments. We’ll be exploring if buying a snazzy car for a long commute, or even adding a screened-in porch to your home, could be considered investments. We’ll also help you understand if they’re actually good investments as well.
Here’s some of what we discuss in this episode:
- Is it worth spending more on a nice car if you spend a lot of time commuting?
- Are collectibles like baseball cards an investment?
- What about adding a home renovation like a screened-in porch?
- As a business owner, is hiring quality people an investment in your business?
- Buying land without a plan to build on it or not.
About Retirease Radio:
Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.
Connect:
Medina Law Group: https://www.jerseyestateplanning.com/
Palante Wealth Advisors: https://palantewealth.com/
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