Comments
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says I Love this post!
But I suddenly see something even more important:
“Which direction are you going?”
Does your life run with surplus or deficit?
If you are paying off your debt faster than you accumulate it, you are on your way up, and it is only a matter of time before you ARE wealthy!
If you are running a deficit, then it doesn’t matter how much wealth you may have today, down the line you will be impoverished if there is not a change.
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says
Excellent point Yon,
I was a Financial Advisor with American Express for a short time and most of the other advisors didn’t get it.
They would get people investing instead of paying off what they already had. Someone had found a program that showed interest paid and used that to poo poo people paying off their house early?? It is important to do both!
Best financial advise I ever got was “Pay yourself first!” So before my money starts paying off bills I automatically plop money into different investments. If I am having to touch my savings I know I need to adjust my expendatures to avoid exactly what you are talking about.
What I really think is important is that this is a definition that people can understand and work to achieve over and over again!
Thanks for you comment, Yon.
The Sharp Guy
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I Love this post!
But I suddenly see something even more important:
“Which direction are you going?”
Does your life run with surplus or deficit?
If you are paying off your debt faster than you accumulate it, you are on your way up, and it is only a matter of time before you ARE wealthy!
If you are running a deficit, then it doesn’t matter how much wealth you may have today, down the line you will be impoverished if there is not a change.
Excellent point Yon,
I was a Financial Advisor with American Express for a short time and most of the other advisors didn’t get it.
They would get people investing instead of paying off what they already had. Someone had found a program that showed interest paid and used that to poo poo people paying off their house early?? It is important to do both!
Best financial advise I ever got was “Pay yourself first!” So before my money starts paying off bills I automatically plop money into different investments. If I am having to touch my savings I know I need to adjust my expendatures to avoid exactly what you are talking about.
What I really think is important is that this is a definition that people can understand and work to achieve over and over again!
Thanks for you comment, Yon.
The Sharp Guy