Kim and Spencer discuss the concept of an “opportunity fund”. An opportunity fund is different from a savings account as it actively makes you money and is used to strategically take advantage of any financial opportunities. Unlike a position of debt or constant emergency where opportunities are limited, having an opportunity fund enables people to position their money strategically for future investments. The hosts, Kim and Spencer, discuss the concept of a CLUE test (Control, Legacy, Use, and Equity) as a gauge to measure the accessibility and fluidity of your opportunity fund.
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Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers thinking and strategies today!
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Links and Resources from this Episode
- For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/
- What an opportunity fund is and the importance of being in a position of cash
- The importance of dedicating a certain amount every month to building an opportunity fund
- Using the CLUE test for identifying the appropriateness of where to store the opportunity fund
- The importance of controlling dollars, particularly in relation to banks
- Liquidity of properties and stocks being dependent on several external factors
- The aspect of equity in different forms of opportunity funds
- The usefulness of the CLUE acronym as a tool for determining the strength of an opportunity fund
- Why you should start learning and preparing to take advantage of opportunities
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