Suppose that you were charged with the responsibility of representing a group of people on an important mission in a foreign country. What if your assignment was to learn as much as you can about the local culture and develop relationships to get ahead and bring the rest of your “group” along to success in this new country. Maybe their are people in your own family tree who did this in the 1700’s, the 1840’s or even more recent.
What would you do?
I guess you would find out as much about the people and how they get along, right? You might read as much as you can on how to become a part of the community. You might research and learn as much about the people as possible, right?
Okay. We’ve had a meltdown. Some people lost everything. Some people didn’t have anything to begin with. Some lost money in 401ks or in pure stocks. What about you?
Well, today is a new day. You have the power to begin something new. You can begin a new adventure. The “group” you will represent will be your family. The foreign country will be your process of building a more secure financial life.
How do you do it?
The same way you would do it if you landed in a foreign country on a mission for your “group.” You would learn all you could about the people and the mission.
If you’ve been following this blog for awhile, you know we are big believers in doing your own research, spending an hour a day or an hour every other day working for “just yourself.” You know that we believe in automatic savings and building assets that generate income for now and in the future. But you should know about our philosophy of “getting to know the people and the ways of the foreign country” (known as wealth-building). After all, many people with money for some reason don’t want you to know how to really get ahead. So, we recommend that you make it easy on yourself.
That’s right. Check out sites like http://www.bloomberg.com, http://www.wsj.com, http://www.kiplinger.com and more. We recommend that you have regular subscriptions for Money and Kiplinger. Work to understand people that save and invest regularly. This is not so you leap off the deep-end and start buying penny stocks (we recommend AGAINST that) or the latest hot thing. We recommend that you have these types of magazines in your home so that you spend time getting to understand and think like richer people.
Oh, and I should say that we are not recommending that you boost automatic savings and build wealth for the sake of becoming rich. You boost savings to increase the safety net around your family, and you build wealth so that your family will have options. Times could become worse for the average family. If you have a job, you have opportunity to save.
Take the opportunity. Start automatic an savings program. Start learning how rich people think. Take advantage of their “showing off” how to increase savings and build wealth.
If you haven’t already signed up for our FREE monthly e-saver, you can do it now @ http://www.stickyasset.com/blog.
Good luck on your new adventure. I hope your “group” does very well indeed.