First Person: So the World Didn’t End…Now What Do We Do With Our Money?

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Well, I'm writing this on December 22, 2012, a day after the world -- according to some sources -- was supposed to end. Apparently it didn't. So now that the apocalypse has come and gone without a murmur, what's next for our personal finances?

Thankfully, we didn't sink a bunch of money into building an underground bunker or buying one of those condo units in a missile silo. Therefore, we have a little bit of money left with which to invest after the dud that was the 2012 apocalypse.

Increase Emergency Fund

Currently our emergency fund sits at $5,000, which we're pretty comfortable with, but is well below the eight month amount that Suze Orman advocates. Therefore, it might not be a bad idea to use some of our excess cash to bump up this amount by a thousand or so just to be on the safe side. With an 11-year-old vehicle that has had its share of necessary repairs this past year, a new(er) vehicle might be on the horizon in the next year or two, so having this excess cash could come in handy for just such a purchase.

Maintain Emergency Supplies

Even though the 2012 apocalypse was a bust, this doesn't mean that I'm any less adamant about being prepared for a variety of emergencies and disaster scenarios. Therefore, we will use some of our extra money to maintain our existing emergency supplies. Things like our emergency food stock can continue to be rotated into our regular meal options meaning that this is a sustainable investment that really pays for itself by our consuming any such supplies that might be nearing their expiration date.

Diversify into Some Risk

Since the world didn't end, I guess we're living on borrowed time, so why not take a chance? Therefore, lately I've been considering (just considering at this point) adding a little risk back into our portfolio by way of a couple strong stocks.

I'm not big fan of the stock market, and I plan on waiting out the fiscal cliff issue and seeing what the beginning of 2013 brings with it, but if I ever want good shot of really building our asset total and being able to retire comfortably, it might be worth it for us to try a few individual stocks outside our basic retirement account funds.

I'm looking at certain startup companies or companies with some room to grow like Amazon, Tesla, LinkedIn, and several others. If nothing else, I feel such options offer a bit better chance of hitting it big than the lottery or casino.

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The author is not a licensed financial professional. The information provided in this article is for informational purposes only and does not constitute legal or financial advice. Any action taken by the reader due to the information provided in this article is solely at the reader's discretion.

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