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Rich Or Poor - Get The Knowledge
By: Gary Simpson
Most people work hard all their lives only to "retire" poor then try to live off
meagre savings or a small (rapidly disappearing) Government pension. They are
forced to live out their twilight years struggling with constant money problems.
Many of them have to buy only the cheapest food and are unable to enjoy the
little pleasures of life like going to an occasional movie, eating out or taking
short trips. They have to watch every cent they spend.
If only these people had saved, on a consistent basis, just a small percentage
of their earnings and set it aside.
George Classon, in his marvelous book called "The Richest Man in Babylon"
suggests that putting aside just "ten percent of what we earn and investing it",
is enough to make for a comfortable retirement.
Let me ask you a question. Are you saving a percentage of what you earn or are
you like most people who spend everything? Alarmingly, there are new statistics
which suggest that most people, in fact, are spending more than what they earn.
The latest studies are saying people are currently spending 104% of their
income.
It sounds impossible, doesn't it? It's not! The advent of credit cards has led
to spiraling debt. Multiple credit cards and "store" cards allow people to buy
now and pay later. I call this "payment by the twelfth". I refer, of course to
that famous Johnny Mathis song "The Twelfth of Never". Many use the "roundabout"
system of using one credit card to pay for another and so on. This is a recipe
for disaster.
I recommend you purchase "The Richest Man in Babylon" and study it. The
information it contains can make a positive impact on the way you handle your
finances. At least if you read the book and understand it you can make a
conscious choice to ignore its wisdom. You are then in a position to decide
whether you want to be rich or poor because you will have the knowledge.
There is no better time than right NOW to start becoming responsible with money
and investing for your future. What you keep putting off today will eventually
return to haunt you when you have a diminished capacity to do anything about it.
In other words, the longer you leave it the more difficult it will become. You
cannot work forever. Eventually, the day will come when you will either want to
retire or you will be forced to retire.
Rich or poor - get the knowledge!
About the Author:
Gary Simpson is the author of eight books covering a diverse range of subjects such as self esteem, affirmations, self defense, finance and much more. His articles appear all over the web. Gary's email address is: budo@iinet.net.au .
His website is located at http://www.motivationselfesteem.com |
