Your current situation and your future are two different things. Saving money requires thinking ahead. If you are in college right now, or are otherwise just starting out, this post is for you. I was just out of high school around the time this arrest photo of Bill Gates was taken, one of several arrests in the late 1970s. He was already successful, but probably had no idea of just … [Read more...]
Wealth is Not What You Possess – Part 3
Wealth is the ability to independently make lifestyle choices in accord with one’s needs, values, and goals, and do so in a way that provides for survival, security, freedom, and the opportunity for successful achievement of one’s chosen goals. As discussed in the last article, trade-offs between lifestyle and income determine your ability to save, and the ability to save is a means to reach … [Read more...]
Wealth is Not What You Possess – Part 2
The lifestyle choices we make determine our spending, and they really matter. What you earn is important, but how you spend is just as important. Second of three in a series. The lifestyle choices we make determine our spending, and they really matter. As detailed in the last article, the apartment or home you live in, how you travel, and what you spend on food, are the most important. According … [Read more...]
Wealth is Not What You Possess – Part 1
Wealth is not how much material things you possess. Wealth means having what you need when you need it. Before considering wealth or even saving, consider your chosen life and lifestyle. First of three in a series. Why do we work, earn, spend, save, and invest? Did we choose a particular lifestyle because of what we earn, or did we earn the amount needed to live a particular lifestyle we have … [Read more...]
Choosing to Save Money
Choosing to save money means you have a reason to delay spending, and that you have chosen savings goals that meet your aspirations for the future. In the words of the great philosopher Geddy Lee from the band Rush, "If you choose not to decide, you still have made a choice." Living for today means living in the moment, but it does not mean we do not need to make plans for the future. We all … [Read more...]
Automate Your Investments
You can automate and manage your own investments easily, and without fees. Setting up an automatic investment plan is simple, and costs nothing to implement. Best of all, you are in control of the plan if you need to make changes, and you don't need a robo-advisor to do it. An effective way to save and invest with discipline is by automating the process so you don't have to think about it … [Read more...]