Retirement planning is a lifestyle choice, combined with financial education. In todays world, where the traditional doesn't work, there is another way - The MBA Way.
November 7, 2004 (Press Release) --
General Synopsis - Financial Education - Retirement Planning - Traditional vs Modern.
by Michael A Fowler, M.B.A.
Debt is a serious problem. Why does it exist and what are the underlying reasons for the misery that it causes to millions of people world-wide? What are the answers? Why do experts still give traditional views and advice that are proven not to work?
Financial Education is seriously lacking throughout the world. Recent reports indicate, that faced with the problem, Governments are looking towards the introduction of Financial Education into the curriculum of mainstream schools and other places of both teenage and adult education. The problem is; the solution they are prescribing is not the answer. In fact, it doesn't even scratch the surface...
You would have thought by now that the financial sector would be more attuned to the pitfalls of the traditional savings plans and retirement policies that have caught out so many millions of people. Yet this is what the 'new' concepts are most likely to introduce. How many times can you catch the unwary? Have we observed the end of World.Com and Enron fiascos? I think not. Would you want to trust your life savings to such people? I think not.
Financial Education is not about putting money into savings plans or retirement funds. Despite what your Government might think and the lame-brained politicians who support the issue, they are not even addressing the subject. Financial Education is a lifestyle. It is the fundamental element of how you live, your wants vs. your needs and the education that supports the choices that you make. Just telling people to save money isn't going to cut much ice, especially with the young.
Let's take a look at the sort of things that I would advise, in sharp contrast to a Financial Advisor. First, we have to address the lifestyle changes needed to attain the monetary needs for future advancement. We need to look at all the key areas where money is wasted, without deprivation of our fundamental needs to live. These are the areas we call 'Instant Gratification' and 'Wants' syndromes.
Buying a loaf of bread and some filling, some fresh fruit and vegetables, beans, wholesome soups and fresh milk, or better still growing your own vegetables, are going to give you more in return for your money than junk food like pizzas, hamburgers, fries, etc: It is also a lot more healthy. The comparison in cost is also quite elaborate. Over the course of a year, the typical spend is some $2,080 less than for junk meals.
Car sharing and using your legs more than your tyres can also save massive amounts of money. It is also healthier. I am sometimes amused by those who are seen jogging around the park, only to be observed next day, driving their cars to work and back, when their place of employment is less than a half-mile away. In a recent study that I conducted with a business prospect, we calculated that by car sharing and the savings that accumulated annually, some $4,050 could be saved by each person.
How many times have you taken a good look at what you have around you? I mean the gadgets, junk and stuff that you purchased but never used? Did you ever ask yourself exactly why you purchased those things? It's what we call the 'Instant Gratification' syndrome. Something you read or watched, gave you the 'I Want' syndrome and you acted upon it. Now it gathers dust. People’s houses are full of 'Instant Gratification' items. That's a lack of 'Financial Education' and it costs the average person around $2,800 a year.
So, what do you do on the weekends? The average person spends most of it on the sofa, trying to forget about work. A case of beer, half a dozen videos, plenty of instant meals and the television, make the escape a reality until next Monday morning, when it starts all over again. Exit another $1,500 a year...
Shall we examine your wardrobe next? That dress you bought but only wore once? The exquisite coat that you purchased because it was on ‘special’ at the store, but you haven’t worn it yet? What about all those shoes? How many pairs can you wear at once? Oh dear... 'Instant Gratification' strikes again. Exit another $1,200 a year...
Now let's get down to the mortgage... You know the one, the thing that keeps you broke and seems to go up every month instead of down. The 'albatross' around your neck. The 25 year plan for owning a piece of real estate. How much do you still owe? Oh boy....
OK, so let's have a step back here and do some analysis;
Re-evaluating your eating habits...... Savings $2,080
Car sharing and more leg use.... Savings $4,050
Gadgets Junk and Stuff never used.. Savings $2,800
Escape from reality weekends... Savings $1,500
Instant Gratification shopping........... Savings $1,200
Grand Total: $11,630 a year.
Ok, so where are we? You now eat healthier, you exercise more, perhaps do a bit of gardening, don't watch the 'idiot box' so much, you know all about the 'Instant Gratification' syndrome and so avoid it and you see to your needs, as opposed to your wants. Your new lifestyle is being noticed, you're no longer worried about your mortgage and life is full of abundance. Now there's just one more area to clean up. The one thing that you hate doing. It's called work. You know that someday soon you will have completed your dream and be saving even more by being able to work at home. But you have that covered as well. Only one thing troubles you now. ... Letting the others you work with know about your new life before you quit the 'rat-race' and disappear into the sunset.
But that isn't so difficult really ... because people are starting to notice the 'new' you. They are starting to ask questions and you are teasing them with your answers because you want them curious. You love this new opportunity because you are a living testimony of it's power to change peoples lives. Just by sharing this with others, you are on your way to your own 'Financial Freedom' and you know you are going to make it happen. Everything is in place for you ... the products, the services, the support, the learning, the right sort of business, the pay plan, the exclusive leads, the website help, the downline structuring....
Now you are wondering how you got into that dead-end position in the first place...
The thing you do remember, is that your new life started here; http://www.the-mba-way.com
© - 2004 - Michael A Fowler, M.B.A.
by Michael A Fowler, M.B.A.
Debt is a serious problem. Why does it exist and what are the underlying reasons for the misery that it causes to millions of people world-wide? What are the answers? Why do experts still give traditional views and advice that are proven not to work?
Financial Education is seriously lacking throughout the world. Recent reports indicate, that faced with the problem, Governments are looking towards the introduction of Financial Education into the curriculum of mainstream schools and other places of both teenage and adult education. The problem is; the solution they are prescribing is not the answer. In fact, it doesn't even scratch the surface...
You would have thought by now that the financial sector would be more attuned to the pitfalls of the traditional savings plans and retirement policies that have caught out so many millions of people. Yet this is what the 'new' concepts are most likely to introduce. How many times can you catch the unwary? Have we observed the end of World.Com and Enron fiascos? I think not. Would you want to trust your life savings to such people? I think not.
Financial Education is not about putting money into savings plans or retirement funds. Despite what your Government might think and the lame-brained politicians who support the issue, they are not even addressing the subject. Financial Education is a lifestyle. It is the fundamental element of how you live, your wants vs. your needs and the education that supports the choices that you make. Just telling people to save money isn't going to cut much ice, especially with the young.
Let's take a look at the sort of things that I would advise, in sharp contrast to a Financial Advisor. First, we have to address the lifestyle changes needed to attain the monetary needs for future advancement. We need to look at all the key areas where money is wasted, without deprivation of our fundamental needs to live. These are the areas we call 'Instant Gratification' and 'Wants' syndromes.
Buying a loaf of bread and some filling, some fresh fruit and vegetables, beans, wholesome soups and fresh milk, or better still growing your own vegetables, are going to give you more in return for your money than junk food like pizzas, hamburgers, fries, etc: It is also a lot more healthy. The comparison in cost is also quite elaborate. Over the course of a year, the typical spend is some $2,080 less than for junk meals.
Car sharing and using your legs more than your tyres can also save massive amounts of money. It is also healthier. I am sometimes amused by those who are seen jogging around the park, only to be observed next day, driving their cars to work and back, when their place of employment is less than a half-mile away. In a recent study that I conducted with a business prospect, we calculated that by car sharing and the savings that accumulated annually, some $4,050 could be saved by each person.
How many times have you taken a good look at what you have around you? I mean the gadgets, junk and stuff that you purchased but never used? Did you ever ask yourself exactly why you purchased those things? It's what we call the 'Instant Gratification' syndrome. Something you read or watched, gave you the 'I Want' syndrome and you acted upon it. Now it gathers dust. People’s houses are full of 'Instant Gratification' items. That's a lack of 'Financial Education' and it costs the average person around $2,800 a year.
So, what do you do on the weekends? The average person spends most of it on the sofa, trying to forget about work. A case of beer, half a dozen videos, plenty of instant meals and the television, make the escape a reality until next Monday morning, when it starts all over again. Exit another $1,500 a year...
Shall we examine your wardrobe next? That dress you bought but only wore once? The exquisite coat that you purchased because it was on ‘special’ at the store, but you haven’t worn it yet? What about all those shoes? How many pairs can you wear at once? Oh dear... 'Instant Gratification' strikes again. Exit another $1,200 a year...
Now let's get down to the mortgage... You know the one, the thing that keeps you broke and seems to go up every month instead of down. The 'albatross' around your neck. The 25 year plan for owning a piece of real estate. How much do you still owe? Oh boy....
OK, so let's have a step back here and do some analysis;
Re-evaluating your eating habits...... Savings $2,080
Car sharing and more leg use.... Savings $4,050
Gadgets Junk and Stuff never used.. Savings $2,800
Escape from reality weekends... Savings $1,500
Instant Gratification shopping........... Savings $1,200
Grand Total: $11,630 a year.
Ok, so where are we? You now eat healthier, you exercise more, perhaps do a bit of gardening, don't watch the 'idiot box' so much, you know all about the 'Instant Gratification' syndrome and so avoid it and you see to your needs, as opposed to your wants. Your new lifestyle is being noticed, you're no longer worried about your mortgage and life is full of abundance. Now there's just one more area to clean up. The one thing that you hate doing. It's called work. You know that someday soon you will have completed your dream and be saving even more by being able to work at home. But you have that covered as well. Only one thing troubles you now. ... Letting the others you work with know about your new life before you quit the 'rat-race' and disappear into the sunset.
But that isn't so difficult really ... because people are starting to notice the 'new' you. They are starting to ask questions and you are teasing them with your answers because you want them curious. You love this new opportunity because you are a living testimony of it's power to change peoples lives. Just by sharing this with others, you are on your way to your own 'Financial Freedom' and you know you are going to make it happen. Everything is in place for you ... the products, the services, the support, the learning, the right sort of business, the pay plan, the exclusive leads, the website help, the downline structuring....
Now you are wondering how you got into that dead-end position in the first place...
The thing you do remember, is that your new life started here; http://www.the-mba-way.com
© - 2004 - Michael A Fowler, M.B.A.
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