5 Biggest Financial Regrets in America
Forbes put out an article last year about the 5 biggest financial regrets Americans have and they are as follows:
- Not saving for retirement early enough
- Not enough savings
- Excessive credit card debt
- Buying more house than you can afford
- Not saving enough for children’s education
I believe that most of these regrets could be avoided with increased financial literacy. If every individual was taught how to manage money in ways that were empowering for them and not in ways that fueled the system as it is now, then these kinds of regrets would diminish.
We all know the drill – go to school, get a good job, put money in an IRA or 401(k), and then retire. Unfortunately, this playbook keeps most people on a hamster wheel that is hard to get out of and if you are truly counting on your IRA to retire you, I hope you are able to use it soon before the Government and IRS change the game, because they can.
What if there was a different playbook? What if there were different ways to not only make money but keep more of your money in your pocket?
You see the IRS code is written for everyone. Every code is available to every person; if you are willing to learn about and follow a different playbook, then you will be playing a different game – one more like the wealthy do.
We are just coming through yet another housing boom, spurred in some markets like ours here in Kalispell, by COVID. When this market crashes, and it will, all markets are cyclical, and when inflation begins to rise to pay for all the stimulus monies that have been put into the marketplace, because you know someone has to pay for it, how will you weather the storm?
- Will you stop saving for your children’s education?
- Will you lose your house because the interest became too expensive?
- Will you run up your credit cards because you didn’t have enough in reserves to weather the changes?
- Will you have to work an additional 5-10 years?
Not fun questions to answer unless you can answer no.
If you are ready to begin to learn new ways of keeping more of your money in your pocket let’s talk!
In Abundance,
Sue