Crock-pot Investing vs. Microwave Investing Chapter One: Crockpot Investing
We all remember watching Mom in the kitchen putting ingredients into the Crock-Pot, first it was the roast, then potatoes, carrots, onions, celery, topped with broth a little salt and pepper, a pinch of rosemary….individually none of these would taste good. But then she would set the Crock-Pot for anywhere from 6 to 12 hours.
You got home from school, welcomed with an aroma emanating from the kitchen, and you could hardly wait. But, you weren’t allowed to peek, there were still many hours before dinner.
This perfectly represents the way many of us learned how to invest. We put our money into our 401k, IRA, Defined Benefit Plans or other retirement vehicle typically tied to the company we work for, told to leave it in that crock-pot for 20-30 years
In reality we know this is not the case.
This is a great theoretical concept for building wealth, but are you using the right crock-pot?
Choosing the right crock-pot is PARAMOUNT….you can get an inexpensive crock-pot at Walmart for $19.77 OR you can buy a high-end crock-pot with all sorts of features (tax benefits, appreciation, depreciation, etc) that can enhance your food experience (Return and benefit).
Your standard 401K/IRA or Basic Crock-pot vs Buy and Hold Real Estate or your benefit rich Crock-pot
What type of Crock-pot do you have?