10 Years Is A Long Time

Ten years ago I didn’t care about saving money or retirement or investing or anything related to preservation of assets. In fact, I never gave any such thing a thought. Not a single thought.

Maybe you are like this, too. Perhaps you just started thinking about the difference between now and the future and you have begun to see that you must make significant plans for the future or you may not have one.

If you are reading this and have children in high school or college, you have opportunity to help them recognize and benefit from a philosophy of saving and investing that will make them wealthy by the time they are in their forties.

While most Americans are taught by our modern pop culture that wealth is something that can happen instantly, the single best weapon you can give your children is knowledge that time is on their side. Great wealth (or even just plain wealth) does not happen very often “overnight.” You can show them how dedicating a percentage of their incomes – rain or shine and no matter what – automatically to savings (money market and certificates of deposit until you have the recommended emergency savings fund) will all but guarantee they will be wealthy by their mid-to-late forties.

In a world where financial crisis is likely to show up several times in their lifetime, the best gift you can give him is knowledge of automatic savings, smart investing and watchful consumerism.

It’s not too late for you either.

We constantly preach to stay away from credit cards and any form of payday loan. It’s more than saying live below your means. Have the guts to refuse to fold in with these people. They are your enemies.

We say you can’t own credit cards – CREDIT CARDS OWN YOU. We should reject these people as our enemies as consumers and as people. It will help us rebalance our lives and improve the lives of our children.

We state often that your checking account is a money laundering account for other people’s money. Use any excuse to get money out of checking and into savings.

We recommend an emergency savings fund of 15 to 18 months of expenses.

We recommend that you put at least six (6) months of this emergency savings fund in money market savings with an FDIC-insured bank and the remaining amount in laddering certificates of deposit (with CD of more than six (6) months in length each).

Once you have the correct amount of emergency savings, begin investing in mutual funds. No load. Do your research on their history (and recongnize that their history may not be their future). Get to know low-cost mutual funds that have strong track-records.

If you want to become wealthly, always watch the expenses with any investing. Never look at your paycheck as your monitary value. Never look at your checking account as your monitary value. You build monitary value by what you save and what you steadily invest.

You can take control one day at a time and build real value in your future. This fact and helping our own children is what forced us to write the e-book “How To Survive Any Financial Crisis” (available at http://www.stickyasset.com). We simply wanted to lay out the simple ways to save, invest and build real value in any economy. We did it in a way that can save people thousands of dollars every year (or more). There are so many people hurting in this economic environment. We are hopeful that our blogs and efforts will help many.

Check out our main blog at http://www.stickyasset.com/blog and sign up for your FREE monthly e-saver. Doing your own research and taking issue with the big business that has gained access to our financial future is easier than you think. You can do this!

Loyd Ford


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