01-Total Money Makeover
12/7/06
10:40 AM
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MAXIMIZE RETIREMENT INVESTING : BE FINANCIALLY HEALTHY FOR LIFE
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transitioning into what God designed you to do; however, don’t wait till you’re sixty-five to do what you love. That said, the money part does matter. You want to reach your golden years with financial dignity. That will happen only with a plan. USA Today reported recently that 56 percent of Americans do not systematically prepare for retirement age by investing. Not only have we not done anything about retiring with dignity, we have lost hope that it is even possible. Consumer Federation of America found that of people making less than $35,000 per year, 40 percent said the best way for them to have $500,000 at retirement age is to win the Lotto. Wow! These people need a Total Money Makeover in a big way! If you want another peek at the warped view of reality we have, consider that Wealth Builder magazine’s poll found 80 percent of Americans believe their standard of living will go up at retirement. Talk about living in a fantasy!
T
he most memorable moment of our Total Money Makeover was
saving $1,000 and having it in the bank in our name. This initial savings completion marked the beginning of a new future for Kelli and me. It wasn’t easy, and we gave up a lot to become savers rather than spenders. All of our peers were beginning to rack up the debt right as we were getting gazelle-intense and changing our money habits. We drove (and still drive) old cars, decided to live in a tiny, one bedroom home, and cut back on every frivolous expense. At that point, Kelli was still in pharmacy school, but I was bringing in a substantial income. So, we made a budget and cut up our credit cards (and will never carry one again).
E E YOU CAN LIVE LIKE NO ONE ELSE
IF YOU WILL LIVE LIKE NO ONE ELSE, LATER YOU CAN LIVE LIKE NO ONE ELSE