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!
[If you like this article and would like to use it on your own website or
ezine you may do so ONLY if the article is not changed in any way
and the final paragraph: "About the author", with all links intact,
is included.]
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. Click
here to go to his
Motivation
& Self Esteem for Success website where you can receive his
"Zenspirational Thoughts" plus an immediate FREE copy of his highly
acclaimed, life-changing e-book "The Power of Choice."
DISCLAIMER
- Please note that all articles on this web site does not constitute
professional advice. All articles are intended to provide a general view
of many topical subjects from a variety of sources. We are not responsible
for the content or any sponsored links that you may choose to visit from
this web site. We suggest you to consult a solicitor and your doctor for
advice relevant to you own situation before making any important decisions.
The author is not an expert in any given field. By printing, downloading,
or using you agree to our full terms. Below is a summary of some of the terms.
If you do not agree to the full terms, do not use the information. We are
only publishers of this material, not authors. Information may have errors
or be outdated. Some information is from historical sources or represents
opinions of the author. It is for research purposes only. The information
is "AS IS", "WITH ALL FAULTS". User assumes all risk of use, damage, or injury.
You agree that we have no liability for any damages. We are not liable for
any consequential, incidental, indirect, or special damages. You indemnify
us for claims caused by you.
