Be afraid, be very afraid...
It’s halloween time. Time to get scared and enjoy it. Since you are choosing to face your fears and make it fun how about fi nally sorting your money out.
OMG, screech, scream, tears and wringing of hands. For many people just the thought of facing their fi nancial reality and money bits and pieces can cause a cold sweat to burst forth.
I know things may be pretty tough fi nancially, and that is even more reason why you shouldn’t be burying your head in the sand and hoping that someone else will sort it all out.
There are 5 levels of money cooks, the fi rst three levels are money users, using money to existing but without a clue as to how to make it expand and create a feast in their life. The top two levels are Wealth Chefs, creating abundance and fi nancial freedom in their lives having learnt the recipes of wealth.
Burying head in sand made me think of the level 3 type of money cooks. They are the TV Dinner Money Cooks. These Wealth Cooks are aware of the need to invest and usually participate in some form of pension plan for retirement. Sometimes they even have outside investments in Mutual Funds, Stocks, and Bonds. But, TV Dinner Money Cooks prefer others to take responsibility for making their wealth feast with the result that few will ever achieve fi nancial freedom. These people aren’t stupid, but they are fi nancially illiterate and lazy.
They want to eat well but are not prepared to learn how to do it. They prefer others to
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manage their investments for them. When I say others, that includes your partner. If you are sitting on the sideline expecting your partner to sort that money stuff out for you, wake up!.
TV Dinner money cooks are generally intelligent people but when it comes to investing they are Financially Illiterate. They leave their wealth future to chance.
One of the types of TV Dinner money cooks is the
Happens to them”.
The “Ostrich Stew” money cook comprise of people who have convinced themselves that they do not understand money and never will.
They make the following statements: • • •
• • • •
“No one ever taught me what to do” “I’m just not very good with numbers.”
“I’ll never understand how this investment business works.”
“I’m just too busy to follow everything.” “There’s too much paperwork.” “It’s just too complicated.”
“I prefer to leave the money decisions to the professionals.”
Then they justify: •
• •
• •
“But that’s okay because I have a great accountant.”
“My stock broker picks all my investments and she is a pro.”
“We have a great fi nancial planner.”
“The Government will take care of me in my old age.”
“My friend Charlie is a great insurance agent he handles everything for me.”
To advertise in thewire t. 07720 429 613 e.
the.wire@btinternet.com “Ostrich Stew” money cook - “Life
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