"I've kept you three a long time today. Longer than I had planned." By the time that Roy said this, Tom and I had long since had our haircuts. In fact, Tom needed a trim already. James Murray's gray hair was now joining our locks on the floor.
"I want to tell you a quick story before I let you go," Roy stated. "But before I do, are there any questions?"
"Should we buy more than one fund?"
"Well, Cathy, a fund, by its very nature, offers solid diversification, so I really don't think it's mandatory, al-though it probably wouldn't hurt. In fact, yeah, maybe using two or three funds would be a good idea."
"You talked a lot about selecting a mutual fund, but what about selecting a property?" I inquired.
"Talk to a professional. We're in the presence of great-ness right here," he indicated, acknowledging James Murray. "In Ann Arbor, Dave, you'll have to locate some-one with a good reputation. It shouldn't be hard. Ask around. In addition, a plethora of good real-estate books available at the library talk about everything from selecting a good location to the tax implications of owning a property. No questions, Tom?"
"Just one. What's a 'plethora'?"
"I have another question," Cathy announced above the laughter. "What about IRAs and paying down debt? Aren't those supposed to be smart things to do? Wouldn't they be wise investments for the ten percent?"
"Those are excellent investments and we'll talk about both of them in the upcoming months. But the ten percent saving is different. It's separate. It's our I've-made-it-big fund, and it's intended to give us the finer things in life. The things that we dream of one day owning and couldn't afford