The Popular Way To Build Wealth

Welcome to 2009. We have seen thirty (30) or more years of a wide adjustment in the most popular way to build wealth for the middle class. The popular way to build wealth these days is to focus on your credit score and do everything possible to “work the system.” The good news is that you can “afford” things that you cannot truly afford to purchase with cash. You can move beyond your means and live a life that allows you to feel “richer” than you really are in reality. However, the main concern with this “popular strategy” is that it is a myth that doesn’t actually build YOUR wealth at all. It builds the wealth of the greedy rich. It sends you to the poor house.

So many people believe they will always have good incomes. So many people have bought into the idea that they will always be able to put off until tomorrow paying for something that you have access to today. We’ve all been taught that credit is actually good. However, the last thirty (30) years have seen the traditional pay-as-you-go society fall prey to the pay later society. Worse than this, pay later has turned into an overwhelming burden of never ending debt for millions of Americans. Credit card companies, banks and financial services companies have used lobbiest to change the laws and marketing to literally promote and move our society to a credit-first society. This has also left openings for credit card companies to boost interest rates and what we might call “foul tactics” to prey on the middle class and poorer Americans.

We are seeing the ill results of this change from a common belief in the depression era that cash is king to a philosophy widely held that cash is actually troublesome and credit is the most important factor in your life.

The single best thing you can do starting today is see the truth for what it is. Evil actors are afoot in the financial industry. These people are active in credit card companies, banks and other businesses and they are NOT your friend.

We urge you to take action to reduce debt and eliminate credit card usage. Target credit card companies as your enemy and work with them to get them to reduce or eliminate the interest you pay while you pay off your credit cards. Stop using credit cards.

Start focusing on the twin pillars of wealth creation: Eliminate debt and build cash and assets that generate more money.

Only by seeing that cash is king and credit slows your wealth-building progress will you be able to boost ahead financially in the coming headwinds of time.

Do things to trick yourself into saving more and paying off more debt. You can do this by using negotiation in every purchase you make – especially large purchases. Take the money you save and put it in actual savings.

See your checking account for what it is: A money laundering account for other people’s money. Once you see that checking is a nice tool….but a holding bay for other people’s money, you can begin a process of trying to remove money on a steady basis toward a money market savings account or certificates of deposit.

We are NOT suggesting that you do things to destroy your credit. However, you must do all you can to see that the marketers and the financial services industry have adjusted things so far from the truth that they have put themselves FIRST to gain access to YOUR MONEY regularly.

That’s just wrong and must be stopped.

Vote for wealth by taking control of your own fate. It’s not important what you make. It is important what percentage of that you save month after month. It is important that you begin to see this world as YOUR FAMILY Vs THE WORLD. You must have a regular automatic savings….or you will fall further behind in the coming years.

You must teach your children that to grow wealth you must live below your means and have YOUR OWN financial operation beyond a simple 401k and Roth IRA or Traditional IRA. You must focus your children on building assets and having a strong savings pool. If they begin early with saving regularly, you will have accomplished making your children wealthy.

Imagine having the power to make your own children wealthy later in life. YOU HAVE THAT POWER. You can do it.

Follow our blog to find out more about becoming aggressive with credit card companies and seeking solultions to saving and building wealth that WORKS.

Thank you.

Loyd Ford
http://www.stickyasset.com/blog

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s