For example, does the strategy of putting all your money into a high-risk asset class that will lose value in a short time frame really work? Does the strategy of investing your savings, paying off the mortgage, and living a lifestyle of consumption and saving until your retirement work? These strategies are all part of the strategy dioxide: An economic approach to wealth and security. These strategies will all work, but only if you understand how the economy works. I don’t think Dr. McKenzie understood how the US economy worked when he wrote this book.
One thing that I didn’t understand is that Dr. McKenzie is a business school economist. I don’t mean that just in the general sense of the word. He is an economic advisor who wants to get you to invest in stocks and bonds that will perform well in the long run. I believe that in order for you to take my exams for me, I need to understand how the economy will operate under these strategies, not just in theory, but in practicality as well.
What I mean is that you must study the economic data. I know that sounds like a lot of work, but it really isn’t. Just open up your favorite search engine and do a search. You can find hundreds of Econometrics textbooks online that will teach you how to study the data found in the economic reports that came out of the United States. Study these carefully.
Once you’ve studied these, I recommend you go back to your notes and figure out which strategies you feel are the most logical and fit with your goals. Now, the next step is to put them to work. As I said earlier, there are hundreds of Econometrics textbooks that have you study the data. But, once you have the strategies down, I suggest you develop a schedule.
When I was in graduate school, I had no idea what I wanted to do with the rest of my life. Therefore, I set a goal for myself that I would complete a doctorate within five years. As it turned out, I did end up getting my doctorate and that was because I put all of the strategies I learned into play during my graduate studies. Therefore, it paid off for me to make sure that I had the discipline to follow my schedule and do the work needed to get through the exams.
Finally, make sure that you use your strategy when it comes to studying for and taking the economic exams. Again, there are thousands of Econometric textbooks that have all of the answers you want to know. But, the best way to study is to focus on one strategy and to make sure that you understand it completely.
The strategy I am referring to here, of course, is no different than any other strategy you might find. The key is to follow it consistently so that your results reflect your knowledge and skills. After you have developed a solid strategy, it really is up to you to make sure that you practice the strategy to the fullest. When I took the exams, I kept my strategy a secret for six months and then I was shocked at how fast my economy had changed. Now, I can talk about having been surprised by the speed!