25 Sep 2022


The Fundamentals of Building Wealth

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Academic level: College

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#1 Goal definition is very vital since it gives an individual a financial blueprint on amount of money which should be allocated for each financially related activity; this ensures that the actions are within the allocated budget. The goal should be SMART. It means that the goal should specific for instance the person involved; it should have criteria for measuring the achievements, it should be attainable, realistic and within specific time frame. 

#2 in laddering, an investor purchases multiple investments with different specific dates until maturity. It has various and numerous advantages. One, it helps the investors avoid the early distribution penalties charged by the CDs. Also, an investor using the ladder strategies has a chance of surviving risks and exposing investments to lower risk during lower economic times. Lastly, it is essential for re-investments ( Abeele et al., 2012). 

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#3 Umbrella insurance is in simple term known as the excess liability. This is purposely meant to cover an individual sued for an action or issue that is not covered by the personal or home insurance. It has numerous advantages. First, it has a lower cost to the users; last, bring peace of mind since it gives an alternative solution for the bad lacks. 

#4 Risk tolerances are the amount of market risk which can be tolerated by the investor. For the investor to make the goals realities, they have to deal with risk tolerance. Before deciding on the risk tolerance, one has to consider marketing decision making, security risk determinations, and the market security risks assumptions. These will help in control the risk in the market and assist in avoiding them too. 

#5 before investing in the global security, one has to consider the history of that country, especially economic stability. Also, they individual should have information on emerging and developing markets in the line of interest. Risk involves are political risks, information risks, and lastly, the liquidity risk. 


Abeele, V. V., Zaman, B., & De Grooff, D. (2012). User eXperience Laddering with preschoolers: unveiling attributes and benefits of cuddly toy interfaces. Personal and Ubiquitous Computing , 16 (4), 451-465. 

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