Most people work hard all their lives only to "retire" poor then try to live off meagre savings or a small (rapidly disappearing) Government pension. They are forced to live out their twilight years struggling with constant money problems. Many of them have to buy only the cheapest food and are unable to enjoy the little pleasures of life like going to an occasional movie, eating out or taking short trips. They have to watch every cent they spend.
If only these people had saved, on a consistent basis, just a small percentage of their earnings and set it aside.
George Classon, in his marvelous book called "The Richest Man in Babylon" suggests that putting aside just "ten percent of what we earn and investing it", is enough to make for a comfortable retirement.
Let me ask you a question. Are you saving a percentage of what you earn or are you like most people who spend everything? Alarmingly, there are new statistics which suggest that most people, in fact, are spending more than what they earn. The latest studies are saying people are currently spending 104% of their income.
It sounds impossible, doesn't it? It's not! The advent of credit cards has led to spiraling debt. Multiple credit cards and "store" cards allow people to buy now and pay later. I call this "payment by the twelfth". I refer, of course to that famous Johnny Mathis song "The Twelfth of Never". Many use the "roundabout" system of using one credit card to pay for another and so on. This is a recipe for disaster.
I recommend you purchase "The Richest Man in Babylon" and study it. The information it contains can make a positive impact on the way you handle your finances. At least if you read the book and understand it you can make a conscious choice to ignore its wisdom. You are then in a position to decide whether you want to be rich or poor because you will have the knowledge.
There is no better time than right NOW to start becoming responsible with money and investing for your future. What you keep putting off today will eventually return to haunt you when you have a diminished capacity to do anything about it. In other words, the longer you leave it the more difficult it will become. You cannot work forever. Eventually, the day will come when you will either want to retire or you will be forced to retire.
Rich or poor - get the knowledge!
[If you like this article and would like to use it on your own website or ezine you may do so ONLY if the article is not changed in any way and the final paragraph: "About the author", with all links intact, is included.]
About the author: Gary Simpson is the author of eight books covering a diverse range of subjects such as self esteem, affirmations, self defense, finance and much more. His articles appear all over the web. Gary's email address is budo@iinet.net.au. Click here to go to his budo@iinet.net.au website where you can receive his "Zenspirational Thoughts" plus an immediate FREE copy of his highly acclaimed, life-changing e-book "The Power of Choice."
shuttle from Midway Glen Ellyn ..Giving and ReceivingIt seems that people generally find it easy... Read More
There is no questioning that the amount of unclaimed money... Read More
Some people in this world are thinking that their poor... Read More
Have you any idea how many people search Google every... Read More
Before I had a lot of money, I was really... Read More
How Much Money Will I Need to Earn to Retire?This... Read More
The four main steps in building a wealth cycle foundation... Read More
Not Enough Money?I believe that most people haven't got enough... Read More
I have a good friend who works in an area... Read More
It is sometimes pitful how many projects are never born... Read More
It all begins with a simple calculation.You are home on... Read More
What if I were to tell you that almost everything... Read More
One very important wealth creating habit is to set up... Read More
Is it hard to get rich? If you're young, not... Read More
This new way is catching on around the world. People... Read More
Building wealth is as simple as saving a little bit... Read More
Steve Martin once delivered an opening monologue for Saturday Night... Read More
We will start the Financial Fitness System with the assumption... Read More
Have you ever asked yourself what your highest income producing... Read More
When you purchased your home, you most likely got a... Read More
There are many of us who are working on our... Read More
One of the things most of us have old ideas... Read More
Whether an established conglomerate or a fledgling company, a business... Read More
Almost all of us go to work everyday and do... Read More
Is the ghost of "Money Past" haunting you? Do you... Read More
shuttle from O'Hare North Chicago ..I want to share an experience I had in common... Read More
I recently came across startling figures about the average American's... Read More
Hello,If you dont understand this yet, or have not heard... Read More
Why is it that the older and richer people become,... Read More
No one has complete control over their thoughts. But with... Read More
There are many wealth creation strategies and investment techniques available... Read More
Points to ponder as you consider what can be done... Read More
Do you ever get this in your email box: Find... Read More
Whether an established conglomerate or a fledgling company, a business... Read More
Are you setting the right money goals?Most people believe having... Read More
In theory the idea of generating additional (and passive) business... Read More
Now is a great time to make it a habit... Read More
Recently, one late winter night, my four-year old son and... Read More
When you purchased your home, you most likely got a... Read More
Top Investment PerformanceThroughout history, many coin collections have produced substantial... Read More
"Join our program and retire in 3 months..." yeah, right.We... Read More
Is it hard to get rich? If you're young, not... Read More
There is perhaps no more important decision than to take... Read More
The cashflow board games, Cashflow 101, Cashflow 202, and Cashflow... Read More
In my last article on Creating Residual Income I mentioned... Read More
Let me ask you a very simple question. Do you... Read More
The vast majority of working people are in debt. The... Read More
This new way is catching on around the world. People... Read More
"Ooooooh," you may say, "I could NEVER be good at... Read More
There once was a hawk, ferocious and swift. He was... Read More
Wealth Building |