Many have heard the Chinese curse, oft-considered a proverb, “May you live in interesting times.”
We surely do! We’ve endured the Pandemic of 2020, murder hornets, and riots. People have lost jobs, taken pay cuts, and seen their savings evaporate.
We wonder what might be next…
While waiting for the next shoe to drop, I trust that many Americans have opened their eyes to the precarious nature of their personal finances. Old-fashioned ideas that once seemed antiquated may be just the ticket to place you on the path to financial freedom.
What might be some of those time-tested ideas we should follow?
One such idea is to avoid debt. While we have been conditioned to buy now and pay later, an attitude that has occasioned multitudes of Americans to take on burdensome, perhaps lifelong debt, it’s time to eliminate debt and save for the future.
The next idea is to ensure that your life is insured. Don’t just rent coverage; be sure to explore lifetime coverage that builds savings annually and offers living benefits.
The next idea is to understand the stock market is not your friend. Be sure to place your money where annual growth is guaranteed, where the value of the financial vehicle cannot be negatively impacted by market forces.
The next idea is, of course, to spend less and save more. Perhaps the Pandemic has caused you to significantly lower your living expenses. Be sure to save the money you aren’t spending in a vehicle where your money actually works for you, even while continuing to grow.
Finally, engage a financial coach, not an advisor. Managing money is a serious affair, so be sure to engage someone who actually owns what they recommend.
The Money Architects at Vivensure are financial coaches and can help you develop, implement, and follow a plan that will: help you eliminate consumer debt, typically in two to three years or less; ensure you’re covered by life insurance with living benefits; protect your savings from market downturns; and, compounded returns on continuous savings growth.