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11) The idea of having adequate insurance is to protect against events that could reduce your income or wealth.

12) It is not possible to have too much insurance coverage.

13) There is a cost-benefit relationship for insurance protection, which means you could be underinsured or overinsured.

14) Even though insurance costs cannot be used for building net worth, insurance should be given consideration before making investments.

15) Investing in stocks of large, well-known firms may enhance your liquidity, but typically these investments do not generate as high a return as stocks of smaller firms.

16) Stocks of smaller firms are more volatile than those of larger firms and might not be liquid.

17) You should make investments only after you have sufficient liquidity and sufficient insurance to protect your existing assets.

18) You may want to make additional loan payments if the interest rate you are paying is higher than you could obtain from an investment.

19) By investing a portion of your income consistently over time, you should attain your goals.

20) One disadvantage of investing in retirement accounts is that these funds are typically not very liquid.

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