A. Mr. Apple who has all the money he needs, thanks to his stock picking prowess.
B. Ms. Blue, who is currently living the way she wantswriting columns for an on-line company that doesnt pay muchthanks to the current income being generated by her bond portfolio.
C. Ms Crayon, who will have a secure retirementher primary goalthanks to the performance of her balanced fund (a mutual fund that invests in both stocks and bonds.)
D. All of the above.
The answer is D. Okay, we admit it was a trick question. But it makes an important point.
Just in the same way that there is not one approach life that is right for everyone, there is also not one universal definition of financial success. You can't say someone who ends up with a $1 million in the bank is a success. (If invested in municipal bonds, that will generate about $50,000 a year in tax-free income, which is just not enough for a lot of people.)
Nor can you say someone with just $75,000 in the bank is a failure, if all of his or her needs are completely covered.
If you achieved your financial goals, you are a success. (Anyone who tells you otherwise never quite figured out what money was for.)
