Moneywatch101, Personal Finance, Money, Life, Debt, Savings
Reach the top and Gain true Freedom
After reading the title above can you grasp what it means to live a life after you have reached the financial pinnacle? Well in all honesty many people might not even comprehend how a life like that might feel, because we have been slowly institutionalized to a system that is ingrained in our psyche. The people who have the complainly pants syndrome as other blogs have mentioned, are partly to blame for their financial shortcomings, but what if they are merely victims to the system. A system set up to keep you indebted and to keep you plugged into working for 45 years of your life. Can you still reach the financial pinnacle if you live in a society where everyone wants a piece of your finances?
Many of us never really question things on a macro level, because personal finance is mostly thought of as an individual issue, so I want you all to think for a second about the bigger picture. Remember every financial transaction you make is either going to benefit you (consumer) in some way now and simultaneously benefitting someone else (producer / receiver). On the other hand that same transaction, if you can hold back today it will benefit your future needs.(Accumulator) It all begins by making smart financial decisions you already know you want to make but can’t make them happen.
I hope I have not confused you yet, because we still have not really discussed the financial pinnacle and why you should be pursuing it from the first day you begin working. If you can understand that the system is set up to attack us by eliminating all discretionary finances, then you can take the steps to combat it with a vengeance.
Like I mentioned above we all are to blame if we do not save 200K by our 35th birthday because of the haphazard choices we continuously make to dig ourselves deeper, but please take into account that the system is geared to help you remain financially unsuccessful. They all want you to spend because when you do, they make commissions, a salary, a living off of us, which completely negates reaching the financial pinnacle due to overspending. I want all of you to not misinterpret my message as I understand without consumers the demand will drop and it will cause big issues in the economy. But to grasp that in due time once you have been on solid financial foundation for some time, that you can slowly begin once again to consume on a smaller level based off a percentage of total income. If you can hold off being an ultra consumer then reaching the financial pinnacle will be a easier process and not so daunting.
The Financial Pinnacle – is when investments owned produce as much as the total living expenses on an yearly basis. (Thus allowing you to never have to work again)
I know for a fact that a part of me wants to reach the financial pinnacle as soon as possible, and it would be nice if I could have some company to join me in my new found freedom in this life.
Begin the Financial Pinnacle Journey Tips:
From the very 1st job save 20%+
Take those savings and invest periodically into dollar producing assets
Avoid Liabilities with a vengeance
Decipher the system and decide what actions benefit you or the producers
Take advantage of any financial benefits as early as possible
Save on as much tax now, as future tax policies can change at any moment
Read More about Investing, watch less TV
Who Can Reach The Financial Pinnacle in the Express Lane:
Anyone who can Save 50% of all Income into Dollar producing Assets -8-12 Years
Business Owners with high profit margins that invest the difference -3-10 Years
Investors with above average income in lower cost of living areas -7-12 Years
Financially Smart individuals living with Parents can save 60% -5-12 Years
Individuals who Inherit dollars to be placed in good assets – No Time Frame
Owners of Multi – Family Rentals who invest all profits – Depends on # of Rentals
Married Couples who are frugal and on the same page financially – 8-17 Years
Obviously all of these scenarios are based on how the investments perform, how much is invested every year, and the overall state of the economy during your financial journey.
The ability to reach the financial pinnacle might seem daunting, but it is the only path to live in absolute freedom – Rich Uncle EL
How are you living life against the system to reach the financial pinnacle?
Rich Uncle EL
The Financial Pinnacle is a post from: MoneyWatch 101
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