Stop giving your fortune away to the bank. Most people are unaware just how financially powerful they are. Financial institutions, insurance companies, banks and brokers like Fidelity and TD Ameritrade market their financial products to us to make money. They put us into a self-induced coma of dependence; we take all the risk while they earn money over time from our cash flow with no consequences to them regardless of whether we succeed. Are you in a financial coma?
Like our short term and long term goals, how well we manage our cash-flow to our advantage determines the quality of our financial life now and in the future when we are ready to retire. I have met seniors who must continue to work because their Social Security doesn’t bring in enough income each month to pay their living expenses.
Let me tell you about two brothers. This is a brief story about actions and decisions. The first was my paternal grand-father and the second was a great-uncle whom I never had the pleasure of meeting. My grandfather immigrated to American and became an independent real estate investor who was able to live out his golden years with a comfortable retirement from his rental income and my great uncle died on a collective farm in Ukraine. Cicero wrote that every man is the Architect of his own fortune.
