Financial Health

 One of the best things you can do for your health is to build wealth.  Here are a few key steps to wealth building - 

• Pay yourself first.  Whatever your job try and save 10% of your income.
  
• Avoid credit cards and consumer debt. Credit cards charge high rates and that Iphone or car that you had to have has dropped in value long after your still making payments. 
• Avoid car payments. The cost of cars is astronomical and many people are financing cars over 7 years.  While that car payment could go to your investment account.  And that $40k new car goes down the day your drive it home and every day afterwards. Buy a high quality used car that will last and put the money in your pocket. 
• Buy assets.  Stocks, real estate, start a business.  Be a long term investor and avoid the whipsaw of the markets.  Simply investing monthly in the S&P 500 will help you build wealth over the long term. Real estate can help you keep up with inflation and provides shelter which many times is less than rent. 
• Live beneath your means.  Having a philosophy of living beneath your means gives you flexibility for any setbacks you may experience.  Living beneath your means doesn't mean sacrificing it just simply  don't spend every dollar you earn. It's not what you earn it's what you keep.
  

 Many of us think that becoming wealthy is only for rich folks but it's important to remember that from little acorns come mighty oaks.  When you adopt a wealth mindset you set your course for success and look for ways to build your wealth. Seek out great books that will help you on your quest like Think And Grow Rich and The Millionaire Next Door. 

And as always with God all things are possible. 

 

To Your Health and Wealth!

 

With Love,

 

Coach K