Every month I get a summary of my investment portfolio from Edward Jones. It always includes a bar graph showing my asset allocation compared to their recommendations. Asset allocation refers to the way you spread your investments among various investment categories.
There are 6 categories :
- Cash & Life Insurance
- Growth & Income
The idea of asset allocation is to have a balanced approach to investing so that you spread your risks and reach your portfolio objectives. In other words, you don't want to have too many eggs in one basket.
You may not be interested in stocks, bonds, and mutual funds but you have another portfolio that I'll bet you are interested in - your Life Portfolio.
There are 6 categories:
If you created a bar graph displaying your Life Portfolio, how would your asset allocation look? Would it be balanced? Would it be lopsided? Would some areas be totally ignored? Would you have too many eggs in one basket?
Are you devoting plenty of time to your family and friends? If you're working all the time and ignoring them, they may not be around much longer. If they do hang around, your relationships won't be healthy.
Are you allocating time for play and recreation? How much time do you spend each month serving others, i.e., volunteering at church, helping with a community project, coaching a ball team, or tutoring students?
You need to allocate time for fun for yourself and service to others.
How much time is dedicated to work? How much is expected? Are you working insane hours? Why? What can you do to get out of the dreaded 3-step cycle of work, eat, sleep?
No one has ever said on his deathbed, "I wish I had spent more time at the office."
How about your spiritual life? This is the bedrock - the foundation - for all that I do. Ask yourself, "What does God expect of me? What gifts, talents, abilities, passions, and experiences has He given me that can be utilized for my personal fulfillment and for the sake of others?"
You can answer these questions as you spend time developing your walk with God. Spend time praying, thinking, meditating, learning, reading, and worshiping so that you can tighten up your spiritual life.
It will help tie the other 5 things together.
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