Friday, November 02, 2012

Can you afford to be rich?

A lot of time we are asking ourselves, can I afford a better car, a bigger house, a boat, a big vacation, fancy clothes, etc. When was the last time you asked, can I afford to be rich? This all based off a simple number I ran the other day. If you saved $150 a month for 40 years (compounded at 10%) you would have $956,000 dollars. At $150 a month we are not talking a better car, a bigger house, a boat, we are talking cell phone, cable tv, eating out often, packing lunches or not, etc. Most of my friends laughed at me when I brought this up, because you don't really need to get rid of your cell phone to save $150 a month. Most can just do it by working a little more and saving a little more. So if you can afford Jordan's or Tv or internet or a cell phone with data, you choose that over being rich. So why don't you choose to be rich?