SAVE NOTHING!!!!
NO MORE SAVINGS ACCOUNTS!!!
Savings accounts are killing your dreams. Your fancy IRA and 414k are slaving you out! Stop saving your money.
Okay. Wait up folks. Let me get into all this.
There’s a lot you need to know and I only got a few of the pieces. Let’s get it in my friends.
–Ok, go ahead and save.
Save something but you shouldn’t be betting it will save you. A lot of people work like dogs and sock away that glorious 20%. Great plan. I applaud you. However I don’t agree. At this stage of my life I’ve committed to paying down my debts. I need financial freedom now. And before the economy tanked this was my thought. I knew I’d make up for lost time with the extra dollars, but couldn’t do both. So saving money is a last goal not a first. I say save something. Get up to a grand and stop. Suze Orman says save 6 months- for me that’s 18,200 bucks. Sorry Suz, but before the economy took a crap in my wallet you had a different plan for me. Ill skip you and a few others.
–Your job won’t save you.
This part corresponds to the last one. Your job won’t provide the income you need. If you aren’t a top level CEO with that golden parachute forget it. Move on. Now you don’t have to quit but reassign your drive.
–Make money. Create cash flow.
This is the only way I think we can thrive and not just survive. A friend and I have committed to buying a small amounts of .999 pure silver to hold wealth and barter if necessary. Now yes, I know this is savings. However its not fiat currency in the bank. Its not devalued dollars and I can trade it in this economy and in the event of an economic collapse- global or local.
Now this may not fit with the part of the article I started but wait- as my silver appreciates I make money. As I buy volumes cheap now I will beat the rise I see coming. And as I cash in ounces over time I will have a consistent cash flow. See how that works? Disagree with my concept fine but I have a way that is fluid and set to the constraints I designed. I have a plan. I’m in control. And a savings account wouldn’t do this for me. Look at the interest rates from ’06 to ’12 and tell me what you think.
–Let residual income save you.
This is the way most people hate. Or even outright malign and avoid. Residual income simply means money coming in the future from past efforts. That’s it. You don’t need an mlm but why not try one? Tax breaks, fiscal education, what do you lose? Its a good way to learn at the very least. If not what do you think dividends in mega-conglomerates are? Get it. Continuous income is a key strategy. Why do banks charge interest? Car loans, mortgages, school loans. These are residuals for a bank. Create your own my friends.
–You can’t reach your full potential wit a safety net.
This might be the key to my article. The heart of existence too.
When we aim for safety first we lose first. Life is a quick trip some say. I’m in my thirties and I let fear get me a lot when I was young, heights, rock climbing- no more. Last time I hit a theme park I got on every ride and got the cam picks to prove it. I screamed like a little kid but loved it in the end. And in life there is a saying: go for broke. If you do nothing but play it safe nothing will change. There is no growth. There is no dream. There is no hope.
Now I refuse to be safe. I use the club in my car and have alarms in my apartment and a go bag. But I don’t wait for safety in finance. I don’t wait for safety in my blog or my ventures. I reach for the stars. I commit funds and worry later. I’m not foolish but prudent. And here’s why: I’m used to making safe and or smart decisions and so when I take risks they are calculated. And that is smart. I share my world in this blog. I share my mind and heart with anyone willing. And I follow the financial strategies most shun.
And for me that works. I take a lot of fiscal risks. And yes I’ve lost money. I bought fools stocks too. The learning I gained was priceless. The courage I found- more so. This is my life and I won’t follow talking heads. I’m moving forward with no qualms.
I will be rich. By my hand, my choices, and with no safety net. Sorry to my fiscally prudent fellows- I won’t save to fight fear when success trumps all.
#thriveorsurvive.
Playing it safe is the cousin of fear when its true rationale eludes us. -CEO, Change In Advance.
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