Un Common Knowledge: Poor Today - Rich Tomorrow

By Rev. Dr. Claud A. Sinclair

This accelerated home study course was prepared for you, your family, and/or friends who like to educate yourselves in the privacy of your surroundings. This course will supplement your career aspirations, making your home a university. The course is designed to help you to better understand and master financial and economic principles, which will allow individuals, groups, and communities to become better stewards of their talents. The chapters are written in a way that will affect your outlook on life and designed to help you discard old destructive habits and develop new economic theories and strategies. It teaches you not to give back your combined wealth each and every month through inappropriate behavior and improper spending habits. The courses objective is to help you to Create, Accumulate, and Preserve Wealth. The chapters are written in a way that starts at the basics and gradually increases in sophistication, which will affect your outlook on life and designed to help you discard old destructive financial habits. The entire objective in developing this home study course is to teach each person how to discover their purpose in life and how to live a financially rewarding and spiritually fulfilled life. This is my way of giving back and sharing with you the blessings I have received in my life.

• Language: English
• Publisher: Xlibris US
• Release date: Apr 5, 2010
• ISBN: 9781450041362

Book preview

Un Common Knowledge

The Series

Twelve Month

HOME STUDY COURSE

Inspirational

POOR THIS YEAR—RICH NEXT YEAR

We need a few good men and women with righteous spirits willing to help others!

Organize by starting with yourself, family and friends!

A STUDY GUIDE FOR . . .

REPARATIONS

CREDIT REPAIR

MORAL INTEGRITY

SPIRITUAL ENLIGHTENMENT

GROUP ECONOMIC EMPOWERMENT

PERSONAL FINANCIAL RESPONSIBILITY

THE ERADICATION OF THE FOSTER CARE SYSTEM

ENDING THE GENERATIONAL CURSE OF POVERTY

ENDING THE REVOLVING DOOR OF INCARCERATION

Poverty/Oppression is also a state of mind.

Rev. Dr. Claud A. Sinclair, Esq.

Copyright © 2010 by Rev. Dr. Claud A. Sinclair, Esq.

Library of Congress Control Number:      2010902438

ISBN:                          Hardcover                  978-1-4500-4135-5

                                    Softcover                    978-1-4500-4134-8

                                    Ebook                          978-1-4500-4136-2

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the copyright owner.

This product is intended for educational purposes only.

This book was printed in the United States of America.

To order additional copies of this book, contact:

Xlibris Corporation

1-888-795-4274

www.Xlibris.com

[e-mail]

75273

TABLE OF CONTENTS

CHAPTER ONE  THE PHILOSOPHICAL FRAMEWORK OF THE MONEY GAME

CHAPTER TWO  GETTING AND STAYING OUT OF DEBT

CHAPTER THREE  DEVELOPING A WEALTH BUILDING STRATEGY

CHAPTER FOUR  THE IMPORTANCE OF EDUCATION, TIME MANAGEMENT, GOAL SETTING AND THE DEVELOPMENT OF INCOME PRODUCING SKILLS

CHAPTER FIVE  INTRODUCTION TO INVESTING AND THE DEVELOPMENT OF A DIVERSIFIED INVESTMENT PORTFOLIO

CHAPTER SIX  INTRODUCTION TO STARTING YOUR OWN FAMILY BUSINESS

CHAPTER SEVEN  THE RELATIONSHIP BETWEEN THE HOME BUDGET AND FAMILY BUSINESS BUDGET

CHAPTER EIGHT  UNDERSTANDING BANKRUPTCY AND STAYING OUT OF DEBT

CHAPTER NINE  UNDERSTANDING PERSONAL AND BUSINESS TAX PLANNING

CHAPTER TEN  UNDERSTANDING HOW THE TAX LAWS CAN BENEFIT YOU

CHAPTER ELEVEN  PASSING YOUR WEALTH TO THE NEW GENERATION

CHAPTER TWELVE  INTRODUCTION TO PROTECTING YOUR HARD EARNED FAMILY WEALTH [ASSET PROTECTION PLANNING]

Un COMMON KNOWLEDGE

THE SERIES

Twelve Month

HOME STUDY COURSE

POOR THIS YEAR—RICH NEXT YEAR

MISSION STATEMENT

The Purpose of this Home Study Course is to increase family and community unity with an emphasis on spiritual and moral integrity; increase individual aptitudes relating to financial awareness; bring to each home a quality education in the form of home study courses; provide ongoing business and legal support; help you, and/or your organization raise thousands, millions of extra dollars through our venture capital program; provide ongoing workshops and seminars; create a new generation of business industrialists; spark an enormous start-up of new businesses that we can eventually offer as investment opportunities to others within the community.

The Course will educate, organize and support you and your family, group or organization to become more effective financial stewards by helping you to raise money for you and your various individual and community projects.

The Course will provide inquiries into, the importance of education, apprenticeship programs, starting family businesses, goal setting, time management, the importance of quality legal services, business counseling, tax planning, estate planning and other related services. The Course will help develop your financial acuity.

This course is the foundation for your overall strategy to empower yourselves, family and communities. Through our college level, real life home study courses we plan to continuously develop home based educational products, which are relevant to proactive nation building.

Our goal is to associate our selves with individuals and companies that provide quality services, which match our company objective of training and excellence. The Course is designed to offer ways to improve your lives and introduce you to ways to become better stewards over any talent or talents you have been blessed.

Our Venture Capital Program will help you fund your community projects. We will work closely with individuals, families, groups, churches and other non profit community based organizations by creating a network of talent and resources by working together to address issues of poverty, homelessness, teenage pregnancy, fatherless homes, crime and prison, foster care, elder care; politics, history, (non) educational system, high prison rates, etc.;

Our Mission is to create change through creating opportunities

and removing the sleepy film, which keeps us from seeing opportunity. The same buildings in our communities, which were once vacant, are now thriving businesses owned by other persons who do not live or shop in our community. We have failed to see, create and sustain our own opportunities.

This Course will address a condition of apathy and inaction and change it to one o of being proactive. It will help to level the playing field between the haves and have not’s. The Course will encourage the development of investment groups and attract Venture Capitalists sales representatives, to spread this intellectual Ministry throughout the African American communities.

The next generation will be in a position to receive the wealth and build on it because their mind would have been changed from instant gratification to long-term achievement and satisfaction. We need distributors to train! For families that are struggling financially, this Course can help to produce a substantial supplemental income; Our Venture Capital Program will help you to do your part in helping our African Nation to evolve. Our home study products are designed to help you EARN while you LEARN.

In order to learn more about our company and Entrepreneurship opportunities

Visit our Web site@

www.POWERTHROUGHUNITY.COM

email address @

[e-mail]

Un Common Knowledge The Series, Home Study Course; Instant Estate Plan; and Business Creation Program(s) are the centerpiece of our Venture Capital Program. They are designed to immediately stop the wealth drain. Plugging the holes in our financial buckets. Our program(s) are designed to educate YOU and your family, thereby infusing your generations with KNOWLEDGE. Additionally, these programs are designed to raise money to finance community economic growth and allow us as a people to begin a much needed, agrarian, industrial and technological revolution centered in our personal identity, homes and community, based upon FELLOWSHIP and UNITY.

Un COMMON KNOWLEDGE

THE SERIES

Twelve Month

HOME STUDY COURSE

POOR THIS YEAR—RICH NEXT YEAR

CHAPTER ONE

THE PHILOSOPHICAL FRAMEWORK OF THE MONEY GAME

By Rev. Dr. Claud A. Sinclair, Esq.

My goals before reading this course are?

THE MONEY GAME

CHAPTER ONE

I know money is a valuable TOOL, so, how can I use it to Create, Accumulate and Preserve Family Wealth?

The whole objective is to turn skills into a profession, which produces as much income as possible; start a business, which produces a product or service that the world wants, invest in assets that appreciate in value, generates tax deductions, and cash flow; produces income and eventual wealth. Wealth in our context is measured by how long your investment portfolio (in seconds, minutes, hours, days, weeks, months or years) can generate sufficient income to meet your monthly obligations where you can maintain a comfortable standard of living without having to work at a job for income, because there will come a time when you will no longer be able to work for income, so you must strive to transform your income into assets, which produce income . . . wealth. In order to achieve this status in life, you must be willing to do in your early years that which the average person is unwilling to do. Sacrifice—EDUCATION and SMART WORK!

THE PHILOSOPHICAL FRAMEWORK OF THE MONEY GAME

CHAPTER ONE

Table of Contents

Introduction

The Money Game

Session One

Where do we start?

Session Two

Killer obstacles to your success!

Session Three

Confronting Barriers To Success

Session Four

What is a Financial Plan?

Session Five

Self Help?

Session Six

Capitalism

Session Seven

The Diploma

Session Eight

Managing a business takes KNOWLEDGE

Session Nine

The stable business needs a budget

Session Ten

A stabile business needs experience

Session Eleven

The household budget

Session Twelve

The backbone of your investment strategy

Session Thirteen

Goal setting

Session Fourteen

Getting There!

Session Fifteen

The sleeping giant

Chapter One Quiz

Introduction

The Money Game

Self control, Time management and developing proper Spending Habits is essential to creating, accumulating and preserving wealth.

Building wealth takes discipline, sacrifice, and hard work.

The entire Common Knowledge series deals with making you financially independent. As children we can’t wait to grow up and move out of the house in order to be on our own. It is during our early childhood years where a home study course on the principles of wealth creation, accumulation and preservation would be most effective. The emphasis of parents should not focus on children prematurely moving out of the family nest. The basis of this thinking is simple! The entire family will begin to look at the family unit as an expansive economic unit, that can be used to accumulate and preserve family wealth and together everyone’s standard of living will become extraordinary. This knowledge if introduced early and consistently will produce better relationships within the family unit. Young adults will now use gangs to start businesses and corporations. Success is failure turned inside out! If you never try (100 times), you will make success the ever more difficult. Teach your family about money and they will never fear success.

Let me tell you the secret of the money game so you will be focused from now on. Many of us would like to retire before age 55 or 65. Society has dictated that age 65 is the age that you should formally retire from the work force. This is man or woman at work. Statistics show that Americans are now living longer. We are now projected to live up to age 100 and some. This tells us that at the retirement age of your choosing your money must now be working for you. If you retire at age 65, you will have another 35 years of life expectancy. This means you have 35 years that you must survive on your own. You must have acquired and now own, various means of production, such as investment securities, businesses, factories, land/farms, and rental properties which produce income and tax deductions. Parents and young people must understand that in our society and especially within our communities we need an enormous amount of qualified . . . teachers, doctors, urban planners, lawyers, scientists, judges, chemists, politicians, police officers, fire fighters and every other profession that people in a society and community rely. So, it is obvious that the career you choose has a significant impact on your family and community. Certainly how long it takes you to become educated and skilled, will dictate how fast it will take you to achieve financial independence.

In earlier times, many people thought that going into debt was an act of desperation and/or foolishness and a secret to be kept from one’s friends and neighbors. As times changed the concept of debt also changed and debt became a way of life (economic slavery). We raise our children on debt; we grow old on debt, unable to financially face retirement in debt. Early in life you should have been taught to set goals for yourself. Whether your goal is to become a teacher, musician, sports figure, actor, lawyer, doctor, urban planner, scientist, electrician, contractor, or any host of other professions?

As parents we hope the best for our children. No one ever envisions, any of our children as being a failure, a bum, a scrub, a loser, homeless or a nonproductive burden on your family, friends, or society. Some of you will go on to fame and fortune, some large and some small. Some of you will struggle financially the rest of your lives because you failed to put the necessary effort into your personal growth and development. Most of you will seek jobs and many more will start or should want to start their own businesses, after years of working for others. Each of you will dream, dreams and have visions of a better tomorrow. These visions of dreams begin to brighten your every moment and give hope of a better tomorrow. Therefore, the shocking reality is that the decisions you make right now, today, will affect your life and the life of others around you, today, tomorrow, days from now, months from now and years from now to come.

Let me tell you a quick story: As a young adult and as the world begins to unfold its mysteries before your eyes. You should begin to realize the unlimited possibilities life has to offer, right at your fingertips and you are so excited because a new way of life is about to emerge. You make the commitment to excellence; you graduate high school, college or trade school, you satisfied your commitment to yourself to be the best, staying on the cutting edge of knowledge. Failure is nowhere in sight! You’ve done everything right! Your family is proud and your future looks bright. Years go by and you announce to family and friends that God has sent you that perfect, heavenly gift, a mate. You get married!

Suddenly! Something goes terribly wrong and you forget the advice of your elders and you begin to accumulate debt. You have failed to think of the financial damage and the potential future consequences of your actions.

Your only concern is your immediate wants, not your immediate needs. BLING!!! BLING!!! Debt becomes an addiction comparable to crack cocaine because it enslaves you for years and years if you give in to the disease of immediate gratification. Debt destroys families and peace of mind. The symptom of too much debt is working two or three jobs and/or living from paycheck to paycheck, for a paycheck, just to survive." At this point in your life, it appears the only goal is to accumulate material goods you believe will make you happy.

By disrespecting the value of money, what you have done is to immediately rob yourself and put a strangle hold on your future dreams and aspirations. Many may think that this is the way life is, (living from paycheck to paycheck) but it is not. If you start these bad habits, early in life as many of our parents were forced to do, this debt syndrome will become addicting and will most likely last throughout your entire life. Such bad habits as overspending will cause financial crisis and financial independence to become an illusive unobtainable target. Let’s start today, I mean right now, and learn the proper money behavior needed to accomplish goals and reach peace of mind and eventual financial independence.

As you should know, troubles with debt can befall almost anyone at any time. An unexpected development such as an illness or even a layoff from a seemingly secure job can upset the soundest financial plan. Life presents risks that many times are beyond an individual’s control. Nonetheless, there are many things that we can do. One of the most important is to examine your personal circumstances to determine whether you are in control of your borrowing or whether it is starting to take control of you. Put the saving in front of the spending and your world will gradually change for the better. The goal is to enjoy life up through retirement and leave a legacy of WISDOM for your children AND hopefully some money too.

Session One

Where do we start?

FINANCIAL RELATIONSHIPS

First, I would like to explore with you, that inner psyche, as to why so few succeed and why so many more are doomed to live a life of misery because of low income and high debt. Most relationships run into difficulty and marriages breakup because of high debt and uncontrollable spending habits by one or both. Get a good education and obtain skills early in life because the odds are you’ll want or need to start your own business. Did you know that, a large percentage of millionaire households are composed of married couple’s. This should also be a great reason for couples to rethink their position in wanting to change relationships so quickly. You should get married with goals and a plan. In addition, interestingly enough is that self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires.

Let’s first examine the basics of how money works!

THERE ARE THREE MAIN SOURCES OF INCOME:

The first source is "Man/Woman at work.

The second source is your money at work

The third source of income is from charity.

The first source is "Man/Woman at work.

Now keep in mind that there will come a time when, regardless of how badly you want to work, the world will not let you. It is called retirement.

The second source of income is your money at work.

If you make proper preparation and turn some of your income into growing investments, a time will come when you will no longer have to work for your money. You will be able to trade places with your money and let your money, work for you. It is a fact that income from capital (income producing property you own) is much more secure than income from labor.

For example, you discover a group of potential investors who like owning the latest expensive car(s) on the market. Would it not make sense for these individuals to form some sort of business venture (investment club) and invest those high monthly car payments into an account which would eventually be used to purchase the dealership. You may later decide you want to purchase the facility that actually manufactures those same cars. This way you will always own the latest cars. You would also become a millionaire and not a consumer. If you think small, you’ll always be small!

The third source of income is charity.

Man at work, money at work, charity—which source do you want to depend on, especially when you retire? Since man at work may not be an option open to you and charity has rarely brought happiness, you have no other choice but to apply your intelligence toward assuring yourself that there is sufficient money at work to retire in financial dignity.

Why then do so many people fail to achieve financial security?

As a financial planner I have thought about this tremendous crisis. I was convinced that if I could discover the answer, I could help thousands of people avoid living twenty to thirty years of their lives in that tragic state of financial insecurity and turmoil that many of us find ourselves daily.

The answer is simple, make sure you pursue a profession that allows you to earn sufficient cash flow, adopt a strategy of saving 25% (redistribution of wealth factor) of your monthly income for personal economic development and growth. You must live below your means in order to create wealth. Your 10% tithes to the church or charity should go to rebuilding and enhancing the community infrastructure where you live, so hold the church accountable.

Rebuilding the Church

For example, the church fund should also go towards education, recreation and community business development. It should not be spent just on building bigger churches and pastor appreciation services. We can build large institutions of learning and have church in the huge spacious lecture halls of that same institution. Kill two birds with one stone and thousands more will benefit. An educational oriented church will increase the likelihood of our children becoming viable citizens and reaching financial security, by taking control of our children’s educational curriculum. We complain about the inner city educational system, however, it is doing exactly what it was designed to do, marginally educate. We must educate to elevate and not to incarcerate. An uneducated simple mind will believe almost anything, they are told.

Note: By getting an education, and by increasing your skill level, it will benefit you, your family, church and community and, by developing proper spending habits, we can build communities that are self-sustaining. This means more tithes, Preachers. Think bigger! The level of income you generate could and should be sufficient to accommodate an adequate standard of living, while generating wealth with the remaining 15% (redistribution of wealth factor). This factor will be used to create family and generational wealth, which must last through your retirement. Quicker wealth can be derived from a two-earner household where the smallest paycheck is saved each month for investment and business creation purposes. Remember one day, you may not have a JOB to depend on. Use the income from your job to invest in your future. Develop a budget and work together to reduce spending, thereby, spending less than you earn (25%-75% rule). 25% on personal growth and development and 75% on day to day living expenses.

NOTES

Session Two

Killer obstacles to your success!

• Procrastination (putting off for tomorrow what you could do today)

• Failure to establish definite goals and making a commitment to achieve it

• Lack of knowledge about how money works

• Failure to become familiar with the tax laws

• Your financial portfolio is not diversified

• A poor mental attitude. Attitude affects altitude.

• Lack of discipline in managing your spending and investments

• Failure to seek and pay for professional advice

Procrastination (putting off for tomorrow what you could do today)

To procrastinate is to put off action on something until the opportunity is lost. "Why do today, what you can put off until tomorrow? Procrastination will be the greatest roadblock you’ll personally face toward reaching any goals you set, especially the goal of financial independence. Remember time is precious and limited, so while you have your youth, you must realize, that time will be your greatest ally. If you start early developing good income producing skills and establishing a long-term savings program, you’ll have a sufficient amount of time to put your money to work.

For example:

If you invest $50 per month, at an average investment yield of 12% over 30 years it would approximately equal $177,748 without taxation.

If you invest $100 per month, at an average investment yield of 12% over 30 years it would approximately equal $ 354,244 without taxation.

At 12%, you see clearly the magic of compounding interest, which is simply the more time you have to invest the longer time you have for interest to grow your money. When looking at investment alternatives remember the Rule of 72. The Rule of 72, simply tells you how many years, it would take for your money to double in value, based upon the interest rate. In order to determine the number of years that it would take for your money to double at a particular interest rate, simply divide 72 by the number, which represents the interest rate. For example, 72 divided by 12 equals 6, which means at 12% your investment dollars would double every 6 years. At 10%, your investment dollars would double every 7.2 years (72 divided by 10).

Let’s now use the same numbers: $50 per month at $12%, this time we only have 15 years to save, it is a poultry $25,438 compared to $177,748 for 15 more years. At $100 per month for 15 years at 12%, $50,667 compared to $354,244. These examples clearly show the magic of compounding interest. Time is your friend when it comes to developing business sense early. Do not waste this precious commodity called time. This commodity may not be distributed to each of us equally due to unexpected occurrences in life. Your mind and time still remains your greatest ally. The less time you have to save, the less time interest has to compound. You should start saving as early as possible with as little as $25 per month. Read any prospectus carefully before investing. In a nutshell, a prospectus is a detail overview of the financial background, earnings history and projections of a particular company you are interested in investing in.

Procrastination and waiting is a deadly enemy to you and your dreams. This is because the phantom called procrastination poses as your friend named (chilling), which will slowly suck away all your dreams of success and your ability to put in the work to make any progress. Progress is the commitment you make to yourself, parents, family, children and community to develop yourself, enjoy life and eventually retiring in financial dignity, hopefully leaving an estate for your children. If your children are not worthy, leave a legacy to your grandchildren. You will probably go through life as a failure if you wait for the time to be right, to start doing something worthwhile, such as investing in you and your future. Life is not a destination; it is a continuous journey that can be wonderful if you put in the smart work. There is no such thing as a future decision. There are only present decisions that you refuse to make that accumulate to affect your future, called procrastination. Become a good steward over the talents God has given each of us, together with a measure of faith sufficient to achieve all your objectives.

MAKE SAVING A FAMILY TRADITION your slogan of success for the rest of your life! And, always aim high. If you aim for the stars, you will certainly not end up with a handful of sand, unless you aim to become a resort developer of African beaches.

Failure to establish definite goals and making a commitment to achieve it

The second reason that many people fail to become financially independent is that they fail to establish definite goals. If you aim at nothing in life, you are likely to achieve nothing but prison because you’ll have to depend on others—for charity—for your survival. I’ve never heard anyone say, Mr. Sinclair, I met my objectives in life, because I planned to fail in life and that’s exactly what I’ve accomplished by not having any goals. If you give a blueprint to a master builder, do you think that it will be a matter of chance that he/she will complete the structure successfully?

Goal Setting

It is crucial that you take the time to write down your goals. Then next to each goal, allow a column, where you select the time frame for achieving that particular goal and next to the time frame, allow a column, where you put the cost needed to finance that goal. Remember each goal is made up of mini goals called milestones. You must begin at the beginning and follow your plan/goals step by step until it is completed. Remember sweat equity—hard work doesn’t cost money. The secret is this—when you write down your goals, they become magic! The only way you will not accomplish these goals, is if you procrastinate your life away, just chilling. Some chilling is perfectly fine, but playing a video game all day everyday is not a formula for success, unless you get a job at a video software development company, who needs you to challenge it’s software applications.

Lack of knowledge about how money works

A third reason for failing is ignorance about money and how it works. There is an educational void in our nation. We are raising generations of financial illiterates, who end up being exploited as disposable fuel in the capitalist machine—ignorant zombies waiting for someone to exploit them, sorry, I mean save them. The tragic mistakes being made are because of these deficiencies in our knowledge base, which deficiencies are destroying our country’s hopes and dreams due to ignorance and greed. Which is worse?

A community should control the quality and direction of their education. Ignorance about money robs you of the rewards you will receive from your hard earned education no matter how much talent and skill you have. During these economic times, many employers will want to see your credit files. Another level of self imposed discrimination that can be used by others to further oppress and suppress your desires, goals and aspirations.

The rational is that people in debt don’t think straight, and therefore can’t be trusted. Debt fosters an environment where your dreams and achievements will disappear like vapor. A friend of mine once told me, that his father drove him by the worst part of town when he was a young man. This trip was part of a lecture he was being given by his father, in regards to saving money. My friend told me, that when he and his father drove through their skid row, he pointed to the group of homeless men, women and children standing and hovering on the street, waiting for charity. Their condition was the worst thing, he said, that he had ever seen. He said his father turned to him and said son, this is what happens when you don’t get a good education and don’t save and invest, a portion of all they made. He told him, be like the squirrel son, save some nuts for the winter. So, when the harvest is thin you can smile and grin. Our primary schools are not teaching us the one subject that you will need to survive and thrive in a free enterprise system—and that subject is, How To Create and Manage Your Wealth. This canyon is so deep, that the average individual and couple cannot begin to defend themselves against the many financial uncertainties that will continuously face them in life. That is why most relationships don’t make it, because of poor planning, preparation and irresponsible spending. If you keep a society living from paycheck to paycheck, they’ll never be able to concentrate on raising a family and being active participants in a democratic society, thereby by default, a government maintains the societal status quo.

Failure to become familiar with the tax laws

The third reason so many people fail to achieve financial independence is that they fail to learn and apply our tax laws. A wrong tax move could cost you thousands, or even hundreds of thousands of dollars. The issue of taxes should not only come up when your tax returns are due. The tax code reveals many tax saving and income producing strategies. Throughout this course, you will learn a portion of the tax system (Rules of Engagement) and how to use it to its maximum benefit.

Your financial portfolio is not diversified

The fourth reason that people fail to become financially independent is that they have been sold the wrong kind of investments and financial products. The products sold to them were designed to generate commissions, not security for their future. I say sold because if they had received sufficient information about the purpose of these products and investments and how each product served a particular purpose, they would not have made the tragic mistakes. Understand that each investment product has a specific purpose in your portfolio to help reach your goals. Each product or service should be like chess pieces on a chessboard. Each piece has a specific objective or task to be performed. Your portfolio should be balanced in terms of risks. Your age and asset strength will determine your investment strategy and what type of investments you should be holding in your portfolio. If