Fear of eating eat as I'll gain weight vs. Fear of spending money for fear we won't have enough
Neither one is ideal. And, I'm not even addressing the unfortunate and appalling reality that there are folks in North America struggling each day with little no food and little to no money.
I'm not advocating for people to deny themselves nice things or tasty treats. But like what we learned through fitness experts, a plan and moderation are key.
Sad reality, over 2/3 of America is over weight or obese (Ogden et al., 2014). AND....The average household credit card debt in 2014 (of those who where indebted) was $15,611 based on an analysis of Federal Reserve Statistics. Add to that stats from April 22,2015 USA Today article that shared 28% (of 1003 workers and 1001 retirees) have less than $1,000 for retirement and 57% have less than $25,000.
Q: What's the plan?
Q: What are the obstacles or excuses?
Some folks plan to work until they die. One car accident, an unexpected illness, loss of a job or a sick relative are just some examples where this plan may not work.
Others share I have no extra money to save for retirement. I truly believe there are folks in this category, but have to bet no where near the 57% of those surveyed with less than 25k put aside. While not statistical, the lines each morning while I get my coffee are long. The restaurants in Chicago are jammed packed with hour or two long wait to get in. We've all seen Black Fridays. We've seen the long lines for new iPhones. The latest craze for Lily Pulitzer at Target. We choose to spend rather than invest for our own future. Investing just $35 per week ($5 per day) for 20 years with an assumed 5% average return equals 63,189. Just that small change put you better off than 57% of Americans. And did that really hurt?
Building a financial home is no different than building any home. It starts with the foundation and one stud or one brick at a time. Excuses won't get you there... a plan will.
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