PUT YOURSELF IN CONTROL OF YOUR OWN MONEY
In order to control the transfer of interested and its opportunity cost, you must put yourself in a financial position where you have the choice to use your money or someone else's money.
By that we mean you must save to the point that you can choose to pay cash of finance. If you choose pay cash you should pay yourself back. As long as you use money from others they will require interest for that privilege. Once you have accumulated savings, there may be opportunity to use money from others at a rate less than your money is earning. Getting to that position will be critical to the growth of your Circle of Wealth.
Another important factor is capital. Capital is critical. Over the course of your lifetime the financial institutions you have had to deal with have been in competition for your money. The fact that you may be retired does not change their focus. It will be very important for you throughout your retirement years to understand the rules centered around the spending of your accumulated assets to make sure you are not transferring money away unnecessarily. As we work together, we will seek to put you in the best possible financial position to make your money last as long as possible.
For more information about how to put yourself in control of your financial situation, please contact us.