Who will win in your life? Will you become a statistic that the majority of people in the richest country in the world retire with less than $50,000 in the bank?
Success…… is that created from emotion. When we are emotional do we buy, spend and live in the moment?
Being systematic is how we save, invest and meet our retirement goals. So it is a
battle between our emotions that tell us to:
1. Buy what we want
2. Do what makes us feel good
3. Live for today
4. Ignore a budget (by the way who knows what a budget really is?)
And our plan, our being Systematic which leads to:
1. Setting goals
2. Spending less than we make
3. Being thoughtful about our resources and the decisions we make about spending
4. Doing what it takes to be financially successful
If we have no plan, no system to follow or goals to attain we are emotional animals and our own human nature will win. Money is a drug and we get a huge emotional high from spending it. But the next day when we realize there is no money in the checkbook for grocery’s we get a terrible low that can only be solved by spending more money.
Planning is the only way out of this emotional spending cycle that is endless. No wonder we are a society of “Moneyholic’s”. It is a new year but if you do not take action we will not meet our long term goals. We will not be successful. Financial success has 0% correlation to how much you make. It has 100% correlation to how much you save. Saving only happens with a systematic approach to your money, goals and saving, spending and investing.
What are you doing today to be successful tomorrow?
Wayne von Borstel, CLU, ChFC, CFP®, MSFS
Investment advisory services offered through von Borstel & Associates, Inc., an SEC Registered Investment Advisor.