GEORGE ANTONE variety of ratings and evaluations of practices and communications that are committed to raising the standards of excellence in the financial services and healthcare industries – so in other words, they are the ones to listen to. Bonds? Not even close. Mutual funds? What a joke! So I spoke to another expert about this. What he said knocked me out of my seat.

CONSIDERATION 6: OPPORTUNITY COST He said the largest cost for the average American in “opportunity cost.” According to InvestorWords.com, opportunity cost is, “The cost of passing up the next best choice when making a decision. For example, if an asset such as capital is used for one purpose, the opportunity cost is the value of the next best purpose the asset could have been used for. Opportunity cost analysis is an important part of a company’s decision-making processes, but is not treated as an actual cost in any financial statement.” When I “park” my money in an account that grows in a compounding manner, I am losing the opportunity to make more money on that money. In fact, it is the biggest cost than any other cost he stated. Imagine putting \$250 per month in an account “because the experts on TV said that.” That money could have made us a lot more money if we had used it right. I was puzzled. What else can I do with it? Hold on to your socks.

CONSIDERATION 7: THE WEALTH FORMULA Let’s approach this from a mathematical point of view. Building wealth starts with positioning yourself on the right side of the equation. A typical mathematical equation might look like this: X+Y=Z Assume these variables represent dollar amounts – money. That would mean the sum amount of X + Y dollars is the same as Z dollars. Or another way of looking at it – the money on the left side of the equation would be equal to the money on the right. So if X is \$5 and Y is \$2, Z would be \$7. And our equation would be: X+Y=Z \$5 + \$2 = \$7