"Why Invest for Income -- Our Goals"
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A lot of financial experts and writers seem to take for granted what their audiences want.
More money -- of course.
We all want that, but when it comes to investing, "more money" is too simplistic. We must deal with reality, which is very complicated.
Therefore, I want to make clear my own assumptions about who the audience for this website is and what I think your goals are.
I want to say, what you goals "should" be -- but of course that's pretty arrogant.
However, I think that if your personal goal is to work as little as possible, go into as much debt as possible, save nothing and live off Supplemental Security Income (SSI) when you become disabled or reach age 65 -- you're not reading this web site anyway.
Income Investing Goals Guide You to a Happy Retirement
Anyway, it's always better to have goals. To understand where you're heading
If you don't like these goals, I hope you can still learn a lot about income investing from this site, but I have to wonder why you're here.
The Master Income Investing Goal is:
Preservation of or Increase in Purchasing Power and Income Generation Power
Notice that I did NOT say, "Preservation of CAPITAL" -- that's been old-fashioned since inflation became a constant presence in our economy.
People who make a point of not spending principal, only the income generated by the principle, will eventually wind up without enough income or principle, unless they're so rich their purchasing power remains adequate until they die. Most of us can't count on that.
"Income Generation Power?"
Simply this, your stash of invested money must keep generating not only a good income for you now, but a good income for you 10, 20 or maybe 50 years down the road.
And for the "increase" part, I'm thinking mainly of people who aren't yet retired and who are therefore saving for that time of their lives and who want to be prepared.
Of course, many already-retired people may well want to find ways to increase . . . and THEN preserve . . . the purchasing power of their saved assets.
Both groups should learn a lot from this site.
All These are Variations on the Master Income Investing Goal
But it's good to have them specifically in mind:
1. Maximization of Income
What good is purchasing power if you can't it use to purchase anything, without destroying it?
When I write it like that, that sounds obvious. Yet many financial books promote strategies that will make you money -- on paper, but not let you keep it if you want it.
2. Minimization of risk
Yes, this is built in to the "preservation" part of the Master Goal, but there are risks in every investments and to minimize them you must think about them.
This is one important way to minimize risk. Never keep all of your eggs in one basket.
4. Minimization of taxes and transaction costs
Your purchasing power is not preserved when you give your money unnecessarily to a broker or financial advisor or to the government.
5. Estate Planning
You may well be concerned about preserving purchasing power so that you can pass it on to your heirs when you die.
Now download The Death of Capital Gains Investing, your first step toward experiencing for yourself the joy of securing your retirement through income investing!
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