Investment Principals for Entrepreneurs #3
BUILD A NO TOUCH PORTFOLIO
The last thing you want to do is have to dip into your investments to fund something for your business. This will take away from the compounding feature of investing that is so important to growth. Invest and monitor your account but plan on never touching it until you are ready. Want a way to keep yourself honest with this strategy? Fund your retirement accounts and college savings accounts as much as possible knowing that, 1. This money is growing tax deferred until you need it for retirement. 2. You are decreasing your tax liability by funding these accounts. 3. You know that if you want to take it out there will penalties for doing so. You put in a lot of hours to be able to save and there is no way you will knowingly pay a penalty to retrieve those savings.
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