How would you like to take back your life financially while not interrupting your current lifestyle? We’ve always heard, “You’ve got to save more money.” Or “you’ve got to get on a good budget!” Budgets are great! However, I encourage folks to live life to the fullest every day. Truth is some budgets may not allow that. Well, I find it hard to save more money. It’s also very hard to stick to a strict budget and enjoy life to the fullest! Truth is…most of us are doing the best we can to maintain our current lifestyle, and just hoping for the best.
If we only focused on saving more, that could be overwhelming. If we only focus on budgeting, that may be a bit depressing. If we focus on learning about how money works, and how we can implement a completely non-traditional approach that gives us our life back…..well that could be very rewarding! While it is non-traditional to most Americans, it is common to the ultra-wealthy!
You see the average person saves about 3% of their money in their lifetime. Mr. and Mrs. Average Joe and Joanne will pay around 34% of their money out to creditors in interest. That’s interest for cars, credit cards, college, mortgages, etc. Wow!! And what about taxes you say? We pay taxes! About $.40 of every dollar the average American earns goes out to taxes. I’m talking about 40% of the money we earn in our entire life is going to all taxes like income tax, to gas tax, water tax, sales tax etc. So that leaves about 23% of our money left to live on. This is what we call our lifestyle money. That’s what we have left for our gas, car, insurance, food, entertainment…
What is this non-traditional strategy? It’s using methods that focus on re-capturing a portion of the 34% going to interest and 40% going to taxes. What if you could reduce those numbers? Well that would give us more lifestyle money mentioned above, and it would also increase our savings. Most of the time we can increase our savings from 3% to 15% and our lifestyle money will increase from 23% to 33%. Oh, and guess what, you can implement most of these strategies without spending an extra dime than you are currently spending now! In fact, we see most get out of debt in an average of 9 years or less including their mortgage. In a nutshell through proper leveraging and repositioning, using the right strategies, we’re able to eliminate debt sooner and increase cash flow! I will end with some strong quotes and a stat that should encourage you to consider these strategies for you, your family, and your business!
*1 out of 2 Americans are considered financially illiterate. According to a Gallup survey, and the U.S. ranks 14th in literacy worldwide
*Jack Bogle, the founder of The Vanguard Group (one of the largest 401(k) administrators) has to say: “When our financial system – essentially our money managers, marketers of investment products, and stockbrokers – put up zero percent of the risk yet receive fully 80% of the return, something has gone terribly wrong in our financial system.”
*Judge Learned Hand says, “In America, there are two taxes systems: one for the informed and one for the uninformed. Both are legal.”
Unfortunately, most Americans are using the tax system of the uninformed. Let’s Wake up in 2019!