5 Enemies Of Your Money RECAP

Paul K. Dunn
Jun 16, 2017
2 min read

5 Enemies of your Money, let's recap

This post is finished but the discussion will go on. Our community need to make financial intelligence its priority so that we can evolve into the next generational leaders we were born to be. Financial education is being shut out of our lifestyle and it doesn't have to stay that way. If we pursue the things that matter, change happens much faster has a much bigger impact on those we love. Financial Intelligence matters. What we discussed in this post The 5 Enemies of Your Money:

Procrastination is the most common cause of financial failure. The solution is awareness of the consequences mixed with financial education. Raising your financial intelligence will help you operate at a higher financial IQ.
Bad spending habits are considered 'bad' simply because of WHERE the money is being spent. The solution is to change your overconsumption to acquiring cash flow assets instead of useless junk.
Inflation is the moving cost of living. It generally goes up but has gone down in the past. To beat inflation you must invest your income into compound interest vehicles. Compound interest is how money makes more money.
Taxes are considered the government's cash cow. They do little or nothing to earn it and you pay them for it. To defeat taxes, understand how to protect your money through tax advantaged strategies of investing. Put yourself in the Capital Gains filing category and pay no more in taxes than you have to.
Risk is the financial roller coaster. When you ride along, not understanding risk, your money goes up and down with the ever changing markets. To defeat risk using hedging to minimize or eliminate risk entirely. Hedging causes you to place a bet for and against a particular investment. If you have money in the stock market, you may put another portion of your money in a safer indexed universal life policy to hedge the loss of the market. Learn how your current finances are at risk and make the appropriate steps to correcting each situation.