Get Rich Slow!!
I was listening to a recording today in the car from a guy named Doug Andrew. He wrote a best-selling book called Missed Fortune 101. Not exactly a pleasurable Saturday morning read, but if you’re looking for a completely new way of looking at where fortune is hidden, this guy has it.
The gyst of the book is that by unlocking the equity in our homes, leveraging that money by investing in conservative vehicles (fixed income life insurance contracts, municipal bonds, etc.), we will accelerate our retirement years and have money that grows and lives in perpetuity.
While all of that sounds hunky dory (remember when people used to say hunky dory?), the most important snippet of information I gleaned from his recording was: most people have a very short term mindset when it comes to investing for the future. If we all focused on getting rich slow, and using ALL of our unknown resources to do so, we’d actually retire far wealthier far sooner than previously thought.
Now this is completely off the subject and I should probably save for another post, but I’m going to blow my blogwad anyway — I shopped at Gordman’s the other day for a watch that my wife wanted. It wasn’t a fancy, over-the-top watch, but not a bluelight special either. It was an Anne-Klein watch that originally retailed for $60.00. First, it was on sale for $24. Then, my wife sent me in to buy it on a day when there was 30% off everything in the store. Last, I had a 20% off coupon from the paper. Final cost: $13.44. The clerk gave me a survey number to fill out which I just did and I got another 20% off coupon. I may just go and buy myself a $13 watch.
There was a sign in front of a building today on my way home. It said: The best things in life aren’t things.
I’m okay spending $13 on a watch because the $100 I didn’t spend went into a long-term investment for the future. And someday, I may just live on the edge and forego the coupon.
