so have you ever noticed how we react or
perform when our savings we have in a
maybe we’re a little bit more anxious
we’re a little bit stressful we’re a
little bit antsy about where life is
going and our confidence maybe even a
little bit low because we don’t know
what’s gonna take place a big decision
or a big move in our life could affect
our life because of the amount of
savings we have in a bank and you ever
met somebody who walks tall or maybe
he’s got a lot of confidence and you ask
yourself why is this person so calm why
is this person the way they are well
it’s typically one to have a high level
of faith but the other one from my
experience is that person has savings in
place and when you have savings in place
you tend to stress a lot less about
things that could happen in your life
where a speeding ticket can have two
different effects on people one it’s the
end of the world if you don’t have the
money to pay to $300 for another person
it’s just on another ticket maybe I’ll
do some traffic school so how do we look
at savings this is what I learned 13
years ago when it comes into savings
there are three areas to look at what
our savings one is short-term meaning
you know less than 12 months and
short-term what I recommend I’m a very
big fan of having a lot of cash set
aside so I’m a fan of having minimum of
12 months of cash set aside in an
account for you for anything that could
happen you potentially getting fired
layoffs crisis and the family crisis and
something that happens a car breaks down
it’s very very very important to have 12
months of savings set aside for
emergency midterm is 1 year to 10 years
and midterm savings is things such as
maybe a mutual fund or maybe a 10-year
investment property that you purchase or
many different ways you can look at
midterm a midterm could be your kid is
12 years old you know you may be going
to college for 6 years you need to have
a mid-term account set aside form right
maybe a college education plan maybe
you’re thinking about buying a house in
three years and you want to start saving
for a down payment that’s different than
your emergency can so this doesn’t
include your 12 month this is a complete
separate account for midterm right maybe
you’re planning on taking your wife to
Tuscany Italy in four years and you want
to set aside a midterm account to get to
$15,000 or $20,000 that’s midterm then
you have a long term long term is 10
years on and this is what we’re talking
about
retirement savings this is what we’re
talking about your daughter six years
old maybe your culture you pay for your
daughter’s wedding and you know
long-term 20 years from now or 25 years
from now you may need to set aside some
money for that wedding but whatever it
is it’s long term from my experiences
most people have one of the three
typically taking care of me they have a
401k in place but nothing midterm would
they have some savings in place but
nothing long-term but it varies for a
lot of people when you look at all three
and you put three different buckets and
you write it out right now yourself any
sandwich do I have a short-term how much
do I have a midterm how much shopping
long-term you can create a disciplined
plan to start feeding those buckets not
only will you see a difference in you
getting excited about filling up your
buckets you’ll see a sense of relief in
calming you when you start seeing your
savings go high and reason why I wanted
to share this with you is because this
is something I had an article I read
yours if it’s an incredible article on
our savings has to do with our
confidence the title is save and walk
tall your savings believe it or not
affects the way you stand the way you
walk the tone of your voice in short
your physical well-being and your
self-confidence a man without savings is
always running scared he must take his
first job offered or nearly so he sits
nervously on sidelines of life because
any small emergency throws him into the
hands of others a man with savings can’t
afford to resign from his job if his
principles so dictate and for this
reason he’ll never do so a man who can
afford to quit is much more useful to
his company and therefore more
promotable he can afford to give his
company the benefit of his most candid
judgment a man who is always concerned
about basic necessities such as food
clothing and housing can’t afford to
think long term career terms a man with
savings can afford a wonderful
privileges of being generous in family
or neighborhood emergencies he can take
a level of stare from the eyes of any
man friend stranger or enemy it shapes
his personality in its character the
ability to save has nothing to do with
the size of income many high income
people who spend it all or on a
treadmill darting through life like
minnow
the Dean of American Bankers JP Morgan
once advised a young broker take waste
out of your spending and you’ll drive
the haste out of your life if you don’t
need money for college a home or
retirement then save for self confidence
so imagine if you had a hundred thousand
dollars in a checking account right now
yet a couple hundred thousand dollars in
midterm mutual funds other things and a
few hundred thousand dollars for
long-term retirement plan how would you
feel right now but I got to tell you I
remember how it felt not having that in
place and it was very stressful
according to bank rate seventy five
percent of Americans have less than six
months of their expenses set aside in an
account so even maybe some have only one
month but six months seventy-five
percent and twenty eight percent having
no savings at all whatsoever
according to bank rate I think it’s very
very important to pay a lot more
attention to our savings then most of us
tend to do so my challenge to you would
be take out a sheet of paper start
writing your short term mid term long
term speak to your spouse or to somebody
who’s an expert and start putting a plan
in place to get your savings in place
it’s my message of the week and be sure to subscribe
perform when our savings we have in a
maybe we’re a little bit more anxious
we’re a little bit stressful we’re a
little bit antsy about where life is
going and our confidence maybe even a
little bit low because we don’t know
what’s gonna take place a big decision
or a big move in our life could affect
our life because of the amount of
savings we have in a bank and you ever
met somebody who walks tall or maybe
he’s got a lot of confidence and you ask
yourself why is this person so calm why
is this person the way they are well
it’s typically one to have a high level
of faith but the other one from my
experience is that person has savings in
place and when you have savings in place
you tend to stress a lot less about
things that could happen in your life
where a speeding ticket can have two
different effects on people one it’s the
end of the world if you don’t have the
money to pay to $300 for another person
it’s just on another ticket maybe I’ll
do some traffic school so how do we look
at savings this is what I learned 13
years ago when it comes into savings
there are three areas to look at what
our savings one is short-term meaning
you know less than 12 months and
short-term what I recommend I’m a very
big fan of having a lot of cash set
aside so I’m a fan of having minimum of
12 months of cash set aside in an
account for you for anything that could
happen you potentially getting fired
layoffs crisis and the family crisis and
something that happens a car breaks down
it’s very very very important to have 12
months of savings set aside for
emergency midterm is 1 year to 10 years
and midterm savings is things such as
maybe a mutual fund or maybe a 10-year
investment property that you purchase or
many different ways you can look at
midterm a midterm could be your kid is
12 years old you know you may be going
to college for 6 years you need to have
a mid-term account set aside form right
maybe a college education plan maybe
you’re thinking about buying a house in
three years and you want to start saving
for a down payment that’s different than
your emergency can so this doesn’t
include your 12 month this is a complete
separate account for midterm right maybe
you’re planning on taking your wife to
Tuscany Italy in four years and you want
to set aside a midterm account to get to
$15,000 or $20,000 that’s midterm then
you have a long term long term is 10
years on and this is what we’re talking
about
retirement savings this is what we’re
talking about your daughter six years
old maybe your culture you pay for your
daughter’s wedding and you know
long-term 20 years from now or 25 years
from now you may need to set aside some
money for that wedding but whatever it
is it’s long term from my experiences
most people have one of the three
typically taking care of me they have a
401k in place but nothing midterm would
they have some savings in place but
nothing long-term but it varies for a
lot of people when you look at all three
and you put three different buckets and
you write it out right now yourself any
sandwich do I have a short-term how much
do I have a midterm how much shopping
long-term you can create a disciplined
plan to start feeding those buckets not
only will you see a difference in you
getting excited about filling up your
buckets you’ll see a sense of relief in
calming you when you start seeing your
savings go high and reason why I wanted
to share this with you is because this
is something I had an article I read
yours if it’s an incredible article on
our savings has to do with our
confidence the title is save and walk
tall your savings believe it or not
affects the way you stand the way you
walk the tone of your voice in short
your physical well-being and your
self-confidence a man without savings is
always running scared he must take his
first job offered or nearly so he sits
nervously on sidelines of life because
any small emergency throws him into the
hands of others a man with savings can’t
afford to resign from his job if his
principles so dictate and for this
reason he’ll never do so a man who can
afford to quit is much more useful to
his company and therefore more
promotable he can afford to give his
company the benefit of his most candid
judgment a man who is always concerned
about basic necessities such as food
clothing and housing can’t afford to
think long term career terms a man with
savings can afford a wonderful
privileges of being generous in family
or neighborhood emergencies he can take
a level of stare from the eyes of any
man friend stranger or enemy it shapes
his personality in its character the
ability to save has nothing to do with
the size of income many high income
people who spend it all or on a
treadmill darting through life like
minnow
the Dean of American Bankers JP Morgan
once advised a young broker take waste
out of your spending and you’ll drive
the haste out of your life if you don’t
need money for college a home or
retirement then save for self confidence
so imagine if you had a hundred thousand
dollars in a checking account right now
yet a couple hundred thousand dollars in
midterm mutual funds other things and a
few hundred thousand dollars for
long-term retirement plan how would you
feel right now but I got to tell you I
remember how it felt not having that in
place and it was very stressful
according to bank rate seventy five
percent of Americans have less than six
months of their expenses set aside in an
account so even maybe some have only one
month but six months seventy-five
percent and twenty eight percent having
no savings at all whatsoever
according to bank rate I think it’s very
very important to pay a lot more
attention to our savings then most of us
tend to do so my challenge to you would
be take out a sheet of paper start
writing your short term mid term long
term speak to your spouse or to somebody
who’s an expert and start putting a plan
in place to get your savings in place
it’s my message of the week and be sure to subscribe
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