Enemy to Wealth #1 – Debt
Who are the financial enemies you are fighting in the war of financial security and peace of mind? The three biggest enemies you have to face are debt, taxes and financial myths. Understanding the enemy is critical to winning the battles and the war for your money. Winning the war will never happen until you make simple adjustment to the way you think about and handle the money that passes through your hands today and in the future.
Just like water can be a destructive force if left uncontrolled, these barriers to wealth will erode away your financial goals and dreams if not harnessed and controlled. Even a little leak in your personal finances can destroy you financially and remove any hope you had of financial security in retirement. Unfortunately, for most people these are not small leaks—they are massive breeches in their financial reservoir and the flood of money will never be recaptured again unless they repair and fortify the dam to their pool of money.
The biggest leak in most people’s financial lives is interest on their debts. Just learning how to control this leak can have a miraculous impact on your savings and investments.
Unfortunately, most people are so concerned about “earning a living” that they fail to realize how much of their income is simply flowing through their lives, never to be captured. The average person from the age of 25 to the age of 65 and earning $50,000 a year is going to make almost two million dollars over their career. Professionals and business owners are probably going to make a lot more than that, or at least see more than that flow through their hands.
It’s hard to fathom that amount of money passing through your hands, but it’s going to happen. The key is to create a plan to capture as much of that money flow as you can while it’s in your control. Our goal is to teach you how to create a vehicle that helps you keep more of the money you’re already earning to accelerate your progress towards your financial goals. Give us a call at 801-990-5055 to set up a complimentary consultation on how we can help create a customized plan for you.
Our firm assists retirees and pre-retirees in the creation of retirement strategies utilizing investment and insurance products. Advisory services offered through B.O.S.S. Retirement Advisors, a Registered Investment Advisory firm, and offered through Global Financial Private Capital, LLC, an SEC Registered Investment Advisor. Insurance products and services offered through B.O.S.S. Retirement Solutions. To see a list of services please visit us at bossretirement.com/services.
This content is provided for informational purposes only. It is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.
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