Monday, October 29, 2007

Six Major Obstacles

We all have to start somewhere and usually that means making a plan.

"If you don't write it down it will never happen"

Those words are quite true, you can say things like "I'd like to retire early" or "I'd like to manage my finances better" and the words will fly out into space. Those phrases, and many other similar utterances are usually followed by one word..

"but"

So, write it down.

"I will retire early and to do that I will manage my finances better"

The very first member of the Millionaires Club was a Scottish gentleman called Jimmy who qualified for his membership card (number 1) back in September of 1993.

He wants to ask the attendees to write down the Six Major Obstacles To Successful Investing:

(1) Procrastination.
(2) Failure to establish goals.
(3) Ignorance to what money must do to accomplish your goals.
(4) Failure to understand and apply tax laws.
(5) Being sold the wrong type of life insurance.
(6) Failure to develop a winning mental attitude.

Again, some simple and some complex topics there, but the first obstacle, procrastination, is the one that will steal your early retirement away from you.

Start now.

Write it down.

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