I’ve made many mistakes when it comes to saving for my retirement, but I didn’t make all the mistakes! I learned some along the way. Even old dogs can learn new tricks if they want to; and I want to! I only look back to the past to find mistakes I don’t want to repeat. I can begin, again, with a new plan.
Number one. Change my mind. Number two- get a plan. Number 3 Go research the idea at the library. Number 4 Read about people who are successful in life. Number 5 Start putting them into action in your life.
I started reading the Biography of Warren Buffet. The habits of youth of successful people carry into their future. Warren liked to earn and save money when he was young. He saved his money.
A Proverb says, Plow and plant your fields, and then build your house. You go to work and earn, or plant your fields, then while the harvest grows you water and weed it. Then, build your shelter for the winter months, chop your wood, dig a root cellar and store food for the winter. You can and preserve your harvest and pay your tithes to God Almighty, and sell your abundance. Now, you are ready for the cold harsh, winter months of snow, winds and ice. You don’t spend it if you don’t have it. No credit- means no bills to pay. Cash. Pay yourself first and for every dollar you earn 10% goes to God, 10% goes to you and 10% pays your taxes, and the rest is for housing food, clothes and play. Back to Warren Buffet.
Warren took his youthful savings of $9,500 and grew it into millions and then billions. Warren looked for mentors and people who were where he wanted to be. Harvard wouldn’t admit him. So he want to Columbia and studied under Professor Graham, who wrote Analyzing Investments. He mentored with Graham and learned from him and then found his own voice and trusted his decisions. Buffett didn’t listen to the phobias and false promises of Wall Street. He researched the companies and looked for ones that were solid business with good balance sheets and were under priced on the Stock market.
I am not Warren Buffet, but I can learn from his life. People connect and work and learn from others through neighborhoods, lessons, school, libraries and working together.
Peter J. Daniels, the richest man in Australia, started out as an illiterate brick layer. He saw Billy Graham in his 20′s and accepted Christ. He knew a man who sold real estate. One day that Realtor asked Peter if he would like to learn to sell real estate. Peter left his brick laying job and mentored with the agent. It was risky and hard, but he learned to read with a dictionary, asking people to read the meaning to him. You have to connect with others to get ahead. If your family, like Peter’s, is illiterate find someone to teach you.
So, turn off your TV and get out there and get going! Put one foot in front of the other, soon you’ll be walking cross the floor. Put one foot in front of the other, then you’ll be walking out the door. Get a vision and put it to work. You must take action!
I bought an outdoor play coat this weekend. Found a hiking group and ascended Beacon Rock on the Columbia River in Washington, this weekend. I wasn’t sure I could do it, but I had to give it my best effort. I did it! I was the oldest person there. Yeah for me, I broke a belief boundary and made my world larger.
David Bach is an author and financial Planner who teaches people to learn to be wealthy. You can find his books on the Internet and in the library. I recommend his book The Automatic Millionaire by David Bach. It tells in the first chapter how a common husband and wife can amass a million dollars using the daily cup of coffee or a pack of cigarettes factor of your every day work and live way to deal with your money. You must read to get ideas. If you are not ready for retirement your actions haven’t been working, so you must follow those who are succeeding. You need ideas and then put them to work. Books are borrowed ideas.
Phil Town is an advocate of Warren Buffet’s ideas on Rule #One by Phil Town. Rule number one is: Don’t lose money! Rule number 2 is refer back to number one! His second books if Payback Time.
I know enough to learn from others. Connect and learn, grow and be part of your community.