Staying Safe by Diversifying the Eggs in Your Basket

By
Real Estate Agent with GreatWest Realty DRE# 00827565

It is always delightful to watch Children hunting for brightly colored eggs on mornings like these.  But it may be a good time to remember it isn't always a good idea to put all one's eggs in the same basket - Whether it's real eggs; or investment and financial eggs.

It's not always easy to determine what in the marketplace, is simply the next big bubble.  Is it gold at record prices, or expensive oil by the barrel?  The expression "Don't put all your eggs in one basket" generally means not risking the loss of everything by placing all your financial investments or future goals on one and only one option.

The perils of putting all your eggs in one basket ought to be obvious once the basket falls off the wagon or experiences some unfortunate event. Wherever the basket goes, the eggs must surely follow.

Often investment counselors or advisors will suggest a diversified approach to reaching future financial goals.  This approach will many times see investors dividing investments into such categories as: (1) Real Estate  (2)  Stocks  (3) Bonds

If one considers that real estate is currently experiencing prices more affordable than a few years back, coupled with the ability to write off mortgage interest and property taxes on tax returns, it becomes an opportunity to discontinue tossing money down the drain on rent.  There are currently wonderful tax credits available for certain Home Buyers which provide additional incentive to buy now.

Additionally, if you become interested in acquiring rental property, there are additional tax advantages available, such as depreciation, and the cost of repairs.

In addition to placing funds in stocks and bonds for future growth and goals, consider real estate investment as well.

By NOT putting all your eggs in one basket, you reduce the risk of having the single basket, meeting calamity, and ending up with no eggs at all.

 

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Rainmaker
4,866,019
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Good morning Myrl,

What a great post, and I enjoyed how you wove in the Easter theme.  Wishing you a delightful day...A

Apr 12, 2020 08:46 AM #1
Rainmaker
3,648,985
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Myrl - hmm, I don't know what I was expecting:  another lesson inspired by Suze Orman or a discussion by Dr Seuss on green eggs.  Spam or Ham?  Hmm...which reminds me...what's for dinner???

Apr 12, 2020 08:51 AM #2
Rainmaker
1,146,289
Sharon Lee
Sharon Lee's Virtual Assistance - Jonesborough, TN
Retired and loving life

Happy Easter Myrl. Enjoy your day. 

Apr 12, 2020 08:57 AM #3
Rainmaker
2,187,267
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Hi Myrl Jeffcoat - this is so much more than Easter greetings and pretty colored Easter Eggs hidden for the children. It is PURE WISDOM! Although most of us feel like enough is enough, let's get back to normal, it really is just the beginning and I am astonished how many people are already out of money and blame it on loosing their jobs. Don't people save their money for a rainy day, a down payment for a house, or their future retirement? This is a really good message about 'not putting all your eggs in one basket,' and learning to take finances seriously. 

May you and your family members be safe and enjoy the blessings of Easter. 

Apr 12, 2020 09:00 AM #4
Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Myrl even thought this Easter will be celebrated differently than in the past, it is what this day represents that is truly special, and that has not changed.  May you and your family have a very special, safe, blessed Easter Sunday.

Apr 12, 2020 09:05 AM #5
Rainmaker
3,436,610
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Happy Easter Myrl and great blog about all your eggs in one basket.  More people would be wise to see your blog!!

 

Apr 12, 2020 10:17 AM #6
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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

We had to really change up our Easter this year. It made us ponder the true meaning of Easter...

Happy Easter Myrl Jeffcoat 

Apr 12, 2020 11:11 AM #7
Rainmaker
5,823,114
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This very good advice to share.

By NOT putting all your eggs in one basket, you reduce the risk of having the single basket, meeting calamity, and ending up with no eggs at all.

Apr 12, 2020 12:48 PM #8
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I agree, Myrl - it's all about diversification! 

I hope you have a wonderful Easter, despite not having the children home for an Easter egg hunt! 

Apr 12, 2020 01:15 PM #9
Rainmaker
2,904,820
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Very nice post and diversifying is definitely important with just about everything that we do in this world.

Apr 13, 2020 07:46 AM #10
Rainmaker
1,898,686
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Myrl -- this is a great post, and should be FEATURED (or perhaps picked up by Carol Williams or Kathy Streib )

Apr 13, 2020 10:07 AM #11
Rainmaker
2,749,678
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Ron and Alexandra Seigel - I hope your Easter was joyful too, Alexandra! 

Michael Jacobs - I was alone yesterday (Easter), but it was still a pleasant day.  When I cook for family occasions, I usually overcook.  When I do, I make freezer meals for a later date.  Yesterday, I hauled one out, it was Polenta with Stew.  I just lounged around the house and yard most of the day!

Apr 13, 2020 02:59 PM #12
Rainmaker
2,749,678
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Sharon Lee - I hope you had a lovely Easter too! 

Patricia Feager, MBA, CRS, GRI,MRP - I know I've always been conscious of putting a few coins away for a rainy day.  I do have empathy however, for workers who aren't paid living wage, and have families.  It can be especially difficult in times like these! 

George Souto - You're absolutely right.  No matter the circumstances of this time, the meaning of Easter remains unchanged! 

Will Hamm - Thank you for your kind words! 

Paul S. Henderson, REALTOR®, CRS - I spent a lot of quiet time yesterday, doing a lot of reminiscing! 

Apr 13, 2020 03:05 PM #13
Rainmaker
2,749,678
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Roy Kelley - Your words ring true! 

Debe Maxwell, CRS - My family plans to have our egg hunt on the 4th of July this year.  This was definitely an Easter to remember! 

Brian England -  I agree, but don't tell all your girlfriends. . .LOL 

Lottie Kendall - Thanks for your kind words!

Apr 13, 2020 03:07 PM #14
Rainmaker
5,823,114
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Tuesday morning, Myrl.

Have a great day and an outstanding week.

Apr 14, 2020 06:57 AM #15
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Hi Myrl:

This was terrific, and timely advice, and a clever way to bring up the topic given the time of year!

Jeff

Apr 15, 2020 09:04 PM #16
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Myrl Jeffcoat

Greater Sacramento Real Estate Agent
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