This is from “The 7 Habits of Highly Effective People” and its a good word of wisdom.
What will you need in the end? You’ll need a good nest egg that will support your lifestyle in your retirement years. Wouldn’t it be great to be able to do what you love in your twighlight years after a long productive working career? Wouldn’t it be great to pass down a legacy of wisdom, integrity and a little bit of financial blessings to your children and grandchildren? (Oooh, that reminds me….)
So, what do we have to do to ensure we have a good nest egg at the end of our career? SAVE NOW! Compound Interest is your best friend in retirement savings!
Got kids? They plan on going to college? Want to pay cash for their college? What do you have to do to pay cash for your kids college? SAVE NOW!
We won’t go into the many tax sheltered programs for both retirement and college savings.
These are just two examples of things that have us bound financially. I’m sure we can come up with more. Its easy to recognize that debt payments probably are the #1 thing that keeps us from saving. Lack of planning is another. Both kept us from a solid retirement or the ability to pay cash for college.
So, what are some dreams or plans you have for the future? Why not get out of debt and make those dreams and plans come true? Or maybe you are stuck in a J-O-B and would instead like to pursuit a calling or a gift. But, you can’t change careers right now cause this one “pays the bills.”
Here’s another challenge & encouragement: Close your eyes and think what it would be like to get rid of all your payments except the mortgage. Do the math, look at the numbers, add up the figures. How much is it each month? It’s alot, isn’t it? What else could you do with that money? Could you save more? Could you have more fun? Could you GIVE more? Could you pass down a legacy to your children and grandchildren?
