Feel like a lemming lately? Ready to follow the crowd into the great plunge of Ultimate American Consumerism? Just in case you need a little help, here is a tongue-in-cheek look at how to continue the process of becoming the Ultimate American Consumer!
1. Always spend right at the level of your after-tax earnings. Having surplus dollars is troublesome. It's difficult to know exactly what to do with them.
2. Forget having 3, 6, or even 12 months of basic living expenses tucked into a liquid account such as a money market or CD. Why bother?
3. Purchase repeatedly, often, and preferably on credit, items that rapidly depreciate such as cars and consumer goods. Why pay all cash for something when you can use OPM (Other People's Money)?
4. Maintain at least $7,000 to $12,000 of revolving credit card debt ? preferably on store credit cards ? and avoid reading the monthly statements.
5. Eventually revolving debt becomes a bit of a burden. Once that happens, take out a Home Equity Line Of Credit (HELOC) to alleviate monthly payments.
6. Seek out, and take advantage of get-rich-quick opportunities. They offer simple, easy wealth accumulation plans ? with little effort, of course. Leave honest hard work to others. They don't know any better.
7. Spend at least half of your allowable IRA contribution each year on Christmas and holidays, preferably on credit.
8. If you have an investment or asset plan, don't review it too often. This can be tedious, boring and rather dull. Once every 6-10 years should be fine.
9. Where possible, avoid the toilsome task of creating asset accumulation strategies. Instead, have more dinners out with friends, or fun vacations. After all, you only go around once!
10. Invest in insurance. Wrap yourself in insurance protection from disability, death, dismemberment, accident and ill health ? you just never know when you'll need it. Insure your pets as well!
11. Only buy new automobiles for their quality and reliability. Used vehicles can cost as much as $150/ month in long term average maintenance.
12. Regular financial plan setting? Don't do it!
13. If you have a home mortgage, refinance every couple of years to capitalize on low rates. Just think, you too can own your house for 20 years ? and still have 20 to 25 years remaining on whatever debt is there at the time.
14. Don't bother with financial coaches and truly objective advisors. They may assist you with your money plans, but those busybodies should find something better to do.
These 14 steps are a sure way to reach the rank of "Ultimate American Consumer". Along with the title, you will reap all the privileges and benefits that this provides. All the best in your quest!
Eric Johnson is a regular contributor to the Investor's Value View newsletter. To learn how to reach Mr. Johnson for comments or to subscribe to the Investor's Value View newsletter, visit http://www.valueview.net
one time home cleaning Highland Park ..Do you have financial problems? Then a budget is the... Read More
In light of the dominant mindset overshadowing the market these... Read More
Let me ask you a very simple question. Do you... Read More
Is it hard to get rich? If you're young, not... Read More
If you don't have discipline then walk away from the... Read More
No one has complete control over their thoughts. But with... Read More
A mole travels one road, according to the way nature... Read More
Recently, one late winter night, my four-year old son and... Read More
Author: James Walsh ISBN: 1563431696: Publisher: Silver Lake PublishingIn... Read More
Recently I was reading a book called The Millionaire Mind.... Read More
This 4,000 acre sale (now a marina and resort town... Read More
No matter what income level you are currently at, generating... Read More
We all go to school for about twelve years, kindergarten... Read More
Uncle Sam and his band of merry-men, better known as... Read More
Steve Martin once delivered an opening monologue for Saturday Night... Read More
Endowments and endowment mortgages have received a lot of bad... Read More
Most people want to get to the end of their... Read More
Many people assume that the offshore world is accessible only... Read More
It all begins with a simple calculation.You are home on... Read More
Giving and ReceivingIt seems that people generally find it easy... Read More
In his best selling book, "Rich Dad, Poor Dad, Robert... Read More
The fact is that most people continue to work for... Read More
Offshore strategies may or may not be right for you.... Read More
Feng shui coins can allow you, among other things, to... Read More
Almost all of us go to work everyday and do... Read More
licensed cleaning services Park Ridge ..Feng shui coins can allow you, among other things, to... Read More
Many people assume that the offshore world is accessible only... Read More
Uncle Sam and his band of merry-men, better known as... Read More
Time and time again entrepreneurs are losing out on getting... Read More
A residual income is one that comes in no matter... Read More
"If you know how to spend less than you get,... Read More
My First Million took me exactly 27 months to achieve.... Read More
The business of banking has changed dramatically over the last... Read More
Why is it that the older and richer people become,... Read More
Very few people whom I know are familiar with the... Read More
There are many forms of investing online. While I can... Read More
Points to ponder as you consider what can be done... Read More
Most accountants, financial planners and wealth-building experts agree that there... Read More
Let's begin easing you out of the pits. I mean,... Read More
One of the things most of us have old ideas... Read More
A surprising number of readers want to know "Can a... Read More
Do you ever get this in your email box: Find... Read More
An ellipsis to your success is hidden in the word... Read More
Not Enough Money?I believe that most people haven't got enough... Read More
If you don't have discipline then walk away from the... Read More
No one has complete control over their thoughts. But with... Read More
There once was a hawk, ferocious and swift. He was... Read More
Building wealth is as simple as saving a little bit... Read More
In my last article on Creating Residual Income I mentioned... Read More
Okay. So money doesn't really grow on trees. Unless you... Read More
Wealth Building |