Build a Dream Account
We talked about your retirement account. Now, I want to talk about everything between now and retirement. Those are your dreams. So, you tell me something that you want to do in your life that has nothing as retirement and chances are it's going to fall into a dream account. That could be your vacation account. That could be buying your first home. That could be buying a second home. That could be going on a great trip. That could be quitting your job. Some of you watching right now, I know that your number one goal and dream is actually to get the hell out of where you are right now. I can imagine it's going like this, "Oh, no! He didn't say that!" But it's true. They say one out of three Americans fundamentally hate where they are working and if they could quit their job in the next 12 months, they would. Which is depressing as can be but it's true. So, if maybe you want to quit your job and you want to go run your own business, or you want to find a new opportunity, dream account ca...
n help you do that. So, I have this cute little boxes here. This was in your worksheets. It's really mind mapping, kind of like what she's been doing over here. This is like your own little mind map where you go, "Where are some of my dreams?" And what I recommended in smart couples actually was that you make a whole list of dreams. That you take 30 minutes and you just brainstorm with the journal and write out all your dreams. Don't bound on papers, many dreams as you can think of. And then take a look at those dreams. And go, "What am I really most excited about?" Take a look at what those dreams cost. Because here's the interesting thing, when you brain dumped down your list of dreams, what you're going to find out is that a lot of your dreams don't take a lot of money. In the very beginning of the presentation I said in class, I said you don't have to be rich to live rich. Remember that? Say it again, you don't have to be rich to live rich. A lot of your dreams don't require money. They just require your action. Getting your dreams down on paper shows you that. When I did this exercise the first time, I had this mark couples finished, reached my wife, read that section of the book and she's like, "You know, this is great book. We should try some of this stuff." What are you talking about? We do all this stuff. And she's like, "Yeah, but that all dream thing." She's like, "We could do that, we could really blow that out." We were on a plane flight. So, we literally took an hour. We took our yellow pads, we made our list, and then we just walked the list. And it was really interesting because this is great for couples to do. We had things on our list we had never talked about. I had down on one to take a biking. She had down she want to take a biking. Neither of us own bikes and neither of us said ever talked about biking. We both had down we want to go to Montana and we both had down we want to get involve in the Chervokas. Literally, like ten minutes after we had this conversation about our dreams. I'm flipping through a magazine. I see Israel, Montana, seven days, 575 miles, raise money for AIDS research. I'm like, "Honey, look we can get three of these dreams done in just like that in 90 days!" She's like, "Are you crazy? We don't even bike, we don't have bikes." We got home, got home from that plane flight. We had money in our dream account 'cause earlier I said you might put money in your dream account and not know what it's for and then dream will just show up. We took money out of dream account and went down to buy bikes. Transfer 90 days to that ride across the state of Montana. We raised over 20,000 dollars for AIDS research. This was back in the 90's. One of the great experiences actually of my life, all came from this conversation. So at the dream account, you think about your dreams then you create investment accounts for your dreams. Your investment accounts should match your time horizon. So, if it's less than two years, you'll going to use one of those online money savings account to talk about earlier. Once you get to three to five years, you should consider bonds or T-Bills or Bond Funds. Three to ten years, you're going to look at stock funds, balanced funds. Or you'll use one of those diversify robot advisor portfolios. You'll use like acorns or stash or everyone of this other firms. Once you get passed three years, then you can start looking at a more diversified portfolio.