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Missed Fortune – A Successful Journey Starts By Knowing Exactly Where You Are

Posted on | May 20, 2013

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All Progress Starts by Telling the Truth

There’s a saying to the effect of “You can tell where someone is at by where they’re at.” This is true whether it’s applied to where a person is spiritually, psychologically, or financially.

Right now a lot of people are getting, and spending, their tax returns. What a lot of people don’t realize is that by simply investing the average tax refund in America, a person could realize an extra $500,000 in savings over the next 30 years. Over 40 years, that refund could result in an extra million dollars.

So why don’t more people do that? Simple. They don’t know what they don’t know. They continue to waste money on otherwise payable taxes that could be safely and legally directed toward other causes that they support. There’s no shame in paying our fair share in taxes, but being taxed to the max is not a good way to go.

Case in point, IRAs and 401(k)s used to be a good way to go, but from a tax standpoint they are now poor at best. This is because of where we’re headed in America with future higher taxes a near certainty.

The most important thing you can know when you set out to take a journey for the first time is knowing exactly where you are currently. Once you’re clear on where you’re at, then you can chart your course for where you’d like to go.

This clarity of knowing where you’re at includes where you are physically, intellectually, spiritually, socially, emotionally, and financially. What good does the money do unless you have your act together in these other areas?

A good example of this are those individuals who spend their health trying to build wealth and then find themselves, in their golden years, spending their wealth trying to regain their lost health.

It’s essential to stay balanced if we wish to obtain a brighter future. That’s what frees us up to focus on what matters most.

Free to Focus on What Matters Most

When we reach our golden years, we don’t want to have to worry about our money. We want to know that no matter what happens with government, such as taxes going up, that we are immune. This can only happen when our money is accumulating and distributing tax-free.

We want to know that if serious inflation is headed our way, due to government printing so much money, that inflation won’t affect us.

We’d rather know that inflation would actually help rather than hinder us because our returns are tied to those things that inflate.

We want to know that we are immune from the effects of continuing market volatility and economic uncertainty. We want the peace of mind of knowing that our money is not at risk in the market but can safely grow when the economy grows, but not lose a dime of principal during those times when the economy shrinks.

When we have addressed these three potential roadblocks, we can enjoy real peace of mind. But the first step, as always, is to have clarity of where we are currently.

Once you understand exactly where you’re at, you can chart clearly where you’d like to go. You can find balance and bring harmony between your money, your life, your values, your family, and your time.

If this message is resonating with you, it may be time to get that needed clarity and starting moving toward that balanced and brighter future you deserve.

Take that first important step by visiting with a wealth architect today.

Bonus Missed Fortune E-Book: Baby Boomer Blunders The average Baby Boomer has less than $50,000 accumulated for retirement (which means many have less than that), primarily due to bad habits and having money invested in the wrong places where economic downturns can diminish their nest egg. Download this e-book

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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