You cannot be successful if you are not intentional about where your money goes. During today’s broadcast of the Thrive Time Business Coach Radio Show, Clay Clark teaches of the dangers of being casual with your personal and business finances. Clay Clark breaks down the importance of telling your money where to go, sticking to your budget, committing to automating your savings and designing the long-term lifestyle you want.
SUPER MOVE #1 – Tell Your Money Where to Go
NOTABLE QUOTABLE – “Drifting, without aim or purpose, is the first cause of failure.” – Napoleon Hill
SUPER MOVE #2 – Stick to Your Budget
NOTABLE QUOTABLE – “A budget is telling your money where to go instead of wondering where it went.” – Dave Ramsey (National Radio Talk Show Host)
SUPER MONEY #3 – Commit to Automating Your Savings
FUN FACT: “54% had amassed little in savings—less than $25,000. Only 26% reported assets of $100,000 or more. Among the reasons for lack of savings, 40% cited daily expenses and 11% said they were paying off debt. As you might expect, having a retirement plan made a difference. More than two-thirds of those without a plan had less than $1,000 stashed away. Yet most workers say they need to accumulate $250,000 or more to retire comfortably.” – 5 Reasons the Retirement Crisis Is Getting Worse for Average Americans – Phillip Moeller – Retirement Crisis
SUPER MOVE #4 – Design the Long-Term Lifestyle You Want or By Default You Won’t Like How You Spend Your Older Years
FUN FACT: “Too frail to work, too poor to retire will become the “new normal” for many elderly Americans…the average 401(k) balance for 65 year olds estimated at $25,000 by independent experts – $100,000 if you believe the retirement planning industry – the decades many elders will spend in forced or elected “retirement” will be grim.” – The Greatest Retirement Crisis In American History – Edward Siedle | Forbes
