From the Archives of TGIF 2 Minutes – with an update on cash.
One of the most critical factors of long-term personal financial success is…. guess:
- A) The markets
- B) Spending
- C) Interest rates
- D) Stock selection
- E) Income level
And the answer is… SPENDING. This fact is why a truly competent financial planner will spend the most time on discussing spending, both today and future projected. Spending can also be expressed as “lifestyle” or “the basics of food, shelter, and transportation plus lifestyle”.
However, the inevitable will happen. And YOLO (“You Only Live Once”) will creep in.