Home
>
Wealth Building
>
How To Be the Ultimate American Consumer

How To Be the Ultimate American Consumer

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

Lincoln Stretch rentals Alsip ..

In The News:

Fitness centers and workout studios are starting to establish policies that prohibit shooting phone videos to protect people's privacy.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

Apple recently notified a small number of iPhone customers in 92 countries that their phones may be under attack by mercenary spyware.

An artificial intelligence-powered home security system can fire paintballs and tear gas at trespassers. The camera identifies human faces and animals.

Technology expert Kim Komando gives her tips and tricks on enhancing your user experience a smartphone and other devices you use everyday.

A new camera called NUCA uses artificial intelligence to create deepfake photos of subjects by stripping away clothing in close to real time.

The Kimberley Kube trail-ready camper has a compact but spacious design and combines luxury, functionality and ruggedness for a weekend getaway.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Emails instructing you to reset your password for an account may be legitimate, or they may be scams. Kurt "CyberGuy" Knutsson explains.

Northrop Grumman's Manta Ray uncrewed underwater vehicle aims to revolutionize undersea missions — it glides through the ocean without human assistance.

Learn how to work Google's calendar application to streamline and organize your daily tasks from technology expert Kim Komando.

If you do not want Facebook to have automatic access to your private photos, follow our tips to protect yourself. Kurt “CyberGuy" Knutsson shows you how.

Kurt “CyberGuy" Knutsson goes into detail about Apple’s recent iOS update that allows iPhone users to instantly translate spoken language simply by using the Action Button.

Safeguarding your digital life with a reliable physical backup isn't just a precaution, it's a necessity. Kurt “CyberGuy" Knutsson provides the essential backup checklist.

Kurt “CyberGuy" Knutsson reveals how a Redditor exposed false recycling claims at their apartment, highlighting a report that only 21% of U.S. recyclables are processed.

Kurt "CyberGuy" Knutsson offers a travel toolkit featuring five technology tools to help you with booking flights and hotels for your summer vacation.

The bubble behind the clock on your iPhone can appear in different colors. Kurt "CyberGuy" Knutsson explains what each of those colors mean.

Scammers are using the power of artificial intelligence to mimic voices of people and are using the fake voices to commit crimes, like kidnappings.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Tech guru Kurt "CyberGuy" Knutsson explains the science behind the Invisibility Shield, a 6-foot shield that makes people become invisible.

The International Olympic Committee on Friday announced plans to use AI in various Olympic aspects, including athlete identification, training and judging.

Tech guru Kurt "CyberGuy" Knutsson explains an easy trick to avoid squinting while working or surfing the web by zooming in on your personal computer.

Streaming giant Roku has recently been targeted by a pair of cyberattacks, and the company confirmed over a half million Roku accounts were compromised.

The Land Aircraft Carrier combines an all-terrain, six-wheeled vehicle with a two-seat aircraft, which features electric vertical takeoff and landing.

The European Union has sent TikTok a "request for information" on the video sharing platform's newest app, TikTok Lite, under the Digital Services Act, with the aim to clean up social media.

How To Be the Ultimate American Consumer

Wealth Building