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Money Management in Theory and Practice: Part 4

by Steve Zolotow |  Published: Oct 10, 2018


This series on optimal money management began with the premise that there is no one specific algorithm for everyone. Each of us has different finances, psychologies, attitudes toward risk, and personal situations. I threw out some questions to help you determine what your parameters were. (Sounds like scientific talk – algorithms and parameters!) Really that is just a fancy way of saying that one size doesn’t fit all. I then divided bankrolls into three sizes: small, medium, and large. A small bankroll is an amount you could get in a month or less from working, from your business or from your investments. A medium bankroll should take about six months to accumulate. A large bankroll takes a least a year, and in some cases several years. Sometimes your bankroll is so huge, that you may never be able to re-accumulate it, if it were lost. (The bankroll that Jamie Gold ...

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