Money Money Money

Abba Arrival was the first and only modern record that our family got when I was a kid.  Prior to that the large family record collection consisted solely of composers 150 years and older.  My lovely Mum adores classical music and my sister and I grew up on a heady mix of opera and symphony orchestra quintets quartets and soloists sonatas cantatas and minuets with a wee bit of Radio Sport competing loudly for the airwaves via Dad’s tinny transistor radio turned on full bore.

Abba was quite an arrival indeed.

It caused a complete shift in my awareness about music.

In 2013 there’s been a shift in my awareness about money.  I went to a lecture by Janet Xuccoa this week and discovered that there are four types of money personality.

It turns out that I’m a money avoider.

What type are you?

A LOT has changed since the 70s.  A punk styled P!nk has replaced Abba at number 1 (by today’s ranking).   Our world is connected in ways that we would never have dreamed of and you can no longer expect to work at a solid job for 40 years and then retire comfortably at 60 to live out your golden years without a worry in the world.

Look at the changes in the price of property.  Our local beach had sections for sale near the $5K mark in the late 70s and those same sections now sell for $1Million.

What’s your financial plan for the future?  If you don’t have one then the last twenty or thirty years of your life could well turn out to be uncomfortable.

*BTW a Man is Not a Financial Plan.

Think about it.

As a Mum you’re always on the go running the household making sure that everyone is fed clothed warm happy and where they need to be. That there is toilet paper in the bathroom cupboard enough clean towels and the dog / cat is fed and watered.  Around that you work hard try to fit some exercise in and if you’re lucky some quality time with your girlfriends who you don’t see nearly as often as you want to.

There is no time to think about money and its easy to have your head in the sand about your finances.

Do you know how much you need to retire / live on?  Have you thought about what sort of lifestyle you want to have when you stop work or sell your business?  Have you thought about leaving some sort of legacy when you shuffle off this mortal coil?  Is there a project or a dream that you’ve always wanted to do?

With today’s interest rates if you have $5Million in the bank the return is going to be a little more than $3000 per week  taking inflation into account.  Less in ten years time.  Is $3000 per week enough for you to retire comfortably and leave a legacy and give back via some sort of project.

If so how is that $5Million coming along?

There are lots of people who say that money isn’t important that it can’t buy happiness and that it isn’t always sunny in a rich man’s world.  I completely agree there are more important things in life than money but it is right up there with oxygen.  When you focus on your finances and have a control of your wealth you’ll still have problems crop up but they’ll be better ones.

Now that I know I’m a money avoider I’m doing something about it.  How about you?

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