Recently, I was attending a lovely event hosted by Aloft Hotel and VIP Williamson County Magazine. The event was on St. Patrick’s Day and was organized as a means to introduce ourselves to the community and share some Luck-O-The-Irish!
During the event, while chatting with a member of the VIP team, the topic of this month’s article came up. I asked “What do you think would be an interesting topic?” The response was around tax returns and what to do with your refund. She had stated, in talking with her friends, they couldn’t wait to get their return and plan how they were going to spend the money. Most of my clients may be at a different spectrum than a young crowd anticipating a nice tax return, but the concept of Time Value of Money applies to All.
How you choose to invest, or spend money, has an impact on the long term perspective. If you purchase something (say a big screen TV) it has a cost. Not only is it the cost of the item, but also the lost opportunity cost. You can no longer make money on the money you spent to buy your TV. Please allow me to explain. Continue reading »
