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Here's an interesting exercise for you:
1) Look at the balance owed on each of your credit cards on December 31, 2013. Add them up.
2) Look at the balances owed on each of your credit cards on March 1, 2014. Add them up.
3) Subtract 1) from 2) and write down the sum. (The sum will either be a positive or a negative number.)
4) Now add together the total value of each of your savings, retirement, and investment accounts as of December 31, 2013. Write down the sum.
5) Now add together the total value of each of your savings, retirement, and investment accounts as of March 1, 2014. Write down the sum.
6) Subtract 4) from 5). Write down the total.
7) Now subtract 3) from 6). Write down that amount. (It will either be a positive or negative number)
Did you charge more than you saved?
If you did, you peddled backwards in your plan to reach your retirement wealth accumulation goal. That is a bad sign; one that you must reverse.
Many sales people use coaches to help them reach their goals -- the potential they have assigned to themselves. Chances are that you do. One of the largest coach "committees" is owned and operated by Brian Buffini.
But my question is a simple one: Do they use a financial coach like me to help them to determine how to reach their financial goal, and then to actually reach it?
If you are one of those who doesn't, you need to rethink that behavior right away.
William S. Cherry & No Company
America's Wealth Coach