In the previous chapter we discussed the debt side of the balance sheet, with emphasis on student loans. We now turn our attention to the asset side, which is where our pillars reside. I use the words pillars and assets interchangeably as both refer to repositories of value. As noted in earlier chapters, your objective should be to own a diverse set of assets or pillars, including stocks, bonds, real estate, etc.
In the following pages we’ll review a broad selection of Pillars consisting of stocks & bonds, cash and equivalents, real estate, private practice ownership, children’s college savings plans, insurance cash value, annuities, and collectibles. Some of these, in particular insurance cash value and annuities, are controversial. We include them for the sake of completeness. We’ll also review precarious pillars such as Social Security benefits and anticipated inheritance.