7 Ideas to financial freedom and a happy life
1. Live below your means, and still enjoy life
2. Good money vs bad money
3. Compound interest, Credit card interest
4. Keep what you earn, Avoid lawsuits
5. Make money work for you, keep time on your side
6. No regrets
7. Good advice
**kb** remember that you have to have the mentality that it is you against world. Act as if no one has your best
interest in mind, and that "they" are strictly out to make a buck and help you "a little" in the process.**
1. Live below your means, and still enjoy life:
A) You can save and live a good life
B) Money does not equal happiness
C) a relative small amount of money can make one happy
D) There are many who say that they can't save money and they could never be rich, but, It is possible on very little
money to become wealthy, There are many ways to accomplish such a task, some are described in the book The
Wealthy Barber by David Chilton, which can be found on Amazon.com or at www.barnesandnoble.com
E) I myself personally have acquired a net worth of $511,000 on average annual income of less than 30,000
($150,000 home debt $37,000 other) total debt $187,000
total assets $661,000
1999 4 bedroom 3 bath home with pool $345,000
certificate of deposits (cash) $150,000
contract sales and family loans $127,000
mineral and oil leases $ 25,000
2002 Chevy truck and boat $ 14,000
In the past I have owned 2 used airplanes, 2 used boats, 1 new boat, 2 used motor homes, 2 new trucks, 1 used car, 1
used van, 1 mobile home, 1 1983 3 bedroom 2 bath home, and one 1999 4 bedroom 3 bath home with a pool. I have
been on over 9 cruises, and have traveled the Caribbean, Mexico, Canada, and the USA including Alaska and Hawaii.
The point is one can do a lot on a small income.
F) It is a mathematical statistic, that if you save 5 to 10% of your income every month it will grow, and the sooner you
start the better you will be.
2. Good money vs Bad money (see calculators at www.Bankrate.com)
A) there is such a thing as a good loan, most everyone can qualify for a loan, but not all loans are alike. The best loans
are ones that you can afford and build equity, such as a home loan on a property that is appreciating. A auto loan may
or may not build equity. Financial Leverage can be good in a good market, but does not guarantee gains. My rule of
leverage is 50% principal and 50% interest, most loans of this nature produce positive results. The following example
will use 150,000 for a principal balance at 7% over different terms, See the results below:
40 years payment of 932.15 first month interest $875, total loan interest $297430.52 Total payments $447430.52
30 years payment of 997.95 first month interest $875, total loan interest $209263.35 Total payments $359263.35
20 years payment of 1162.95 first month interest $875, total loan interest $129107.62 Total payments $279107.62
15 years payment of 1348.24 first month interest $875, total loan interest $ 92683.63 Total payments $242683.63
10 years payment of 1741.63 first month interest $875, total loan interest $ 58995.26 Total payments $208995.26
With the 40 year plan you reduce the loan by 57.15 the first month
With the 30 year plan you reduce the loan by 122.95 the first month
With the 20 year plan you reduce the loan by 287.95 the first month
With the 15 year plan you reduce the loan by 473.24 the first month
With the 10 year plan you reduce the loan by 866.63 the first month
The point of this example is long term, may not be good, you may be selling your future. Always consider the cost of
money, inflation and the value of future money, your goal and your future. There is a parabolic curve with long term
loans and a parabolic curve with higher interest rates, look at the 30 year payment vs the 40 year payment, the cost of
the loan is about 88,000 more for only a difference of about $65 dollars a month. Increase the payment from the 30
year amortization of 997.95 to the 20 year amortization of 1162.95 about $165 dollars and save $80,155.73 in interest.
Although most of us cannot afford the $1741.63 payment, the first month the loan reduces by $866.63 and the result is
a loan that cost only 58,995.26 in total interest.
Secured loans are typically better rates than unsecured loans.
Be careful of credit card loans that have transfer fee, universal defaults and jump up rates.
Shop loans aggressively, go to your own bank, credit union, and Internet sites such as www.Bankrate.com or
www.Quickenloans.com. There are many sites that have loan calculators, www.Bankrate.com has loan calculators and
some other loan tools that you may find useful.
Look and read all the terms of the loans, be careful of teaser rates, ARMS and other loans that change interest rates,
such loans may benefit you, but don't just take the word of the person trying to sell you the loan, get professional
advice or other advice if possible, a $200 attorney bill is often cheaper than a bad loan. Often a mortgage broker is
paid based on a rate sheet, which pays the broker a premium if they sell you a loan the lender can make more money
on.
B) never loan money without qualifying the payback and security at least equal to the loan, The quickest way to lose a
friend is to loan them money they do not have the ability to repay. As the saying goes there are takers and there are
givers, keep any and all loan transaction business, no emotions, whether between banks, or friends, think with a clear
financial mind. If you are borrowing can you pay back the loan even in a worse case scenario, if you are loaning money
can you afford to lose the money and never be paid back.
Remember the old saying "a bird in hand is worth two in the bush".
3. Compound interest, Credit card interest (see calculators at www.Bankrate.com)
A) Saving just $25 a month starting at age 20 at 5.5% will grow to $50873
Double the amount and the result doubles
Saving just $50 a month starting at age 20 at 5.5% will grow to $101744
Although this may not seem like a lot of money, it is better than 0
$25 at 7% compounds much faster from age 20 to 65 will result in $95,367
$25 at 9% compounds faster yet from age 20 to 65 will result in $186,511
But the results are not as good when you start late
Saving just $25 a month starting at age 40 at 5.5% will grow to only $14950
Double the amount and the result doubles
Saving just $50 a month starting at age 40 at 5.5% will grow to $29899
B) The average American has more than $5000 of credit card debt
credit card interest rate 9% with 2.5% minimum payment ($125) it will take 191 months with total interest $2048.71
credit card interest rate 12% with 2.5% minimum payment ($125) it will take 219 months with total interest $3,180.08
credit card interest rate 18% with 2.5% minimum payment ($125) it will take 313 months with total interest $7,115.42
credit card interest rate 24% with 2.5% minimum payment ($125) it will take 586 months with total interest $18,812.72
This example clearly shows that each interest rate increases the total interest paid by a multiple
In other words 18% rate results more than double the total interest of 9% as $7,115 compared to $2,048
Increase your payment ($125) by 20% to $150 and the results are much different
credit card interest rate 9% with minimum payment ($150) it will take 39 months with total interest $775.33
credit card interest rate 12% with minimum payment ($150) it will take 41 months with total interest $1,112.48
credit card interest rate 18% with minimum payment ($150) it will take 47 months with total interest $1,983.60
credit card interest rate 24% with minimum payment ($150) it will take 56 months with total interest $3,322.09
In this example the higher interest rate, does not effect the total interest cost as much, and the example proves how a
small increase really reduces the term and the cost. At 24% the difference was $3,322.09 vs $18,812.72 saving
$15,490.63
the results are even worse if the minimum payment is smaller
credit card interest rate 9% with 2% minimum payment ($100) it will take 246 months with total interest $2,829.01
credit card interest rate 12% with 2% minimum payment ($100) it will take 299 months with total interest $4,696.66
credit card interest rate 18% with 2% minimum payment ($100) it will take 553 months with total interest $13,931.13
credit card interest rate 24% with 2% minimum payment ($100) it will take forever, the principal never pays off
4. Keep what you earn, Avoid lawsuits
A) taxes have a great effect on income, Some say the more taxes you pay the more you made, however this does not
always hold true, there is a big difference with tax credits and tax deductions. There are a few things that are true about
taxes, we have all heard the saying you cannot get out of death and taxes. Yet it is also true that keeping track of
every tax deduction will save you money, Guaranteed (unless you owe nothing in the first place). There are several
programs that track this on a computer, such as Quicken, Quick books, and Microsoft Money. Talk to an accountant,
don't overlook the gains for having a sub S or an LLC corporation, for some this is a great benefit, for others, maybe
not. There are many hidden available deductions, such as 179 expenses, there are several websites for Tax information.
B) There other issues that can save money, avoid transactions that might become lawsuits. Even if you are on the right
side of the law and win the case, an attorney retainer fee could cost thousands, and may not be recoverable. At one
time, I owned a bar. I knew several other bar owners in the town, many had been sued, some lost theirs suits, but I will
always remember the one who said he won. I asked him how much his attorney fee was, he said $5000, I asked him,
did you really win, it cost you $5000 didn't it. I told him that I took the approach to avoid being sued in the first place.
It is kinda like the movie "War Games" (The only way to win is not to play the game!). There are many ways to protect
yourself from lawsuits. Consult an Attorney, and an Accountant. Remember making a few dollars is not worth putting
yourself at risk of a lawsuit.
5. Make money work for you, keep time on your side
A) time and money have a direct correlation, 15, 20, 30 year or more loans are all more interest than principal in the
beginning months, good loans are loans that each principal pay down is more than the interest. The same works for
credit cards, the shorter the payoff, the less interest paid. There is another benefit to short term paybacks, that is as
loans payoff there is more money for your own use. This is true anytime the interest rate of any loan or credit card is
greater than the return rate on any secure investment. The current Cd rate is one benchmark as it is Federally insured.
B) investments are the same but in reverse, the higher the rate and the longer the term, typically the better the
investment.
C) Some banks and other institutions offer 1% savings account rates, rates this low, just simply cannot be compounded
long enough to generate any real income. If you have credit card debt, mortgage equity debt, invest in your own debt
and pay down or pay off the credit cards before saving at a rate far below your current debt rate.
D) Capitalization rates vary around the country, but you should be able to find the capitalization rate for your area, any
investment you make should at least return this capitalization rate. Remember the value of money, your return must
also be greater than the inflation rate or your buying power will be reduced.
Investments, stock, Cd, real estate, loans, income,
6. Money losses, bad investments, mistakes
A) Never throw good money after bad
B) A bad investment is a bad investment, don't make it worse by adding to it without full recovery
C) learn from you mistakes, don't make the same mistake twice
7. Lawyers, mortgage brokers, real tors, bankers, stock brokers, parents, friends
A) No matter where the advice is from, consider it might be wrong, check the advice out, use it with caution
B) not all advice has your best interest in mind.
C) always try to collaborate of confirm advice by others if possible
Lawyers, may have other agenda's, and other commitments, a lawyers advice is not necessary "THE LAW" lawyers can
be wrong!
**kb**Take into consideration that you have good Lawyers and bad-sometimes you get what you pay for. Never sign
anything until you get a second opinion. Check with the local Bar Association for a reference, and also google the
lawyers name for a possible negative ie..no license, or practicing out of state.
**kb**a contract that is binding is always contingent upon peoples ability to follow through and honor what they have
agreed to. In the end, if anything goes terribly wrong, if you have a contract and a court is involved the Judge will rule
how he sees fit within the realm of the law, even if the contract states otherwise***
Mortgage brokers, are not always working in your best interest, they have rate sheets that often pay them a higher
commission for selling you a higher interest rate, or even products that benefit the banks bottom line. Make the
brokers compete, use more than one, you should get a better deal.
Realtors, although typically have an obligation to the buyer or seller, on rare occasions both buyer and seller, do not
always do what is best for the buyer or seller. Realtors are commission based, and typically there first obligation is to
there own paycheck!
Bankers, have an obligation to the bank, not you, National Banks often have different deals, due to that amount of
money they may have available to loan, if money is tight, lending qualifications are tight, and interest rates are higher,
if lending money is in abundance then lending qualifications are easier, and interest rates are lower. One bank may be
tight on lending funds and another bank may have an abundance of funds. Find the one that has the funds, and you
should be able to get a better loan.
Stock brokers, do not always have your best interest in mind, and sometimes even if they do, they are simply Wrong!
There is no way to predict everything in the world, in the stock almost anything can change whether a stock goes up or
down, economic issues can change a stock due to company performance, supply and demand can change things,
Politics can change things, environmental changes can occur, including fire, earthquake, hurricanes or other natural
disaster, and last but not least, social impact including just a perception, which may be good or bad. No matter how
good a broker says he or she is, there is always a disclaimer on performance in the paperwork you will sign when you
open an account.
Parents, typically always have your best interest in mind, but they are not always right. Like stockbrokers, parents can
not always predict world events. Typically parents advice is based on what they have learned in their lives, and
sometimes is correct advice, however sometimes that advice is based on circumstances that may have changed over
time. Parents advice may be based on experience or not, ask them where there opinion comes from or what the opinion
is based on. Always consider the advice, consider whether times are the same or not, and could the advice be true and
reliable.
Friends, may or may not have your best interest in mind (bias). Again, friends cannot predict world events. Friends
advice may be based on experience or not, ask them where there opinion comes from or what the opinion is based on.
Always consider the advice, consider whether times are the same or not, and could the advice be true and reliable.
When you consider a friends advice, remember it could be based on their motives, good or bad, as they may be.
Disclaimer: I am not an accountant or attorney, the information provide is for educational use only and not intended as
legal advice or tax advice.
1. Live below your means, and still enjoy life
2. Good money vs bad money
3. Compound interest, Credit card interest
4. Keep what you earn, Avoid lawsuits
5. Make money work for you, keep time on your side
6. No regrets
7. Good advice
**kb** remember that you have to have the mentality that it is you against world. Act as if no one has your best
interest in mind, and that "they" are strictly out to make a buck and help you "a little" in the process.**
1. Live below your means, and still enjoy life:
A) You can save and live a good life
B) Money does not equal happiness
C) a relative small amount of money can make one happy
D) There are many who say that they can't save money and they could never be rich, but, It is possible on very little
money to become wealthy, There are many ways to accomplish such a task, some are described in the book The
Wealthy Barber by David Chilton, which can be found on Amazon.com or at www.barnesandnoble.com
E) I myself personally have acquired a net worth of $511,000 on average annual income of less than 30,000
($150,000 home debt $37,000 other) total debt $187,000
total assets $661,000
1999 4 bedroom 3 bath home with pool $345,000
certificate of deposits (cash) $150,000
contract sales and family loans $127,000
mineral and oil leases $ 25,000
2002 Chevy truck and boat $ 14,000
In the past I have owned 2 used airplanes, 2 used boats, 1 new boat, 2 used motor homes, 2 new trucks, 1 used car, 1
used van, 1 mobile home, 1 1983 3 bedroom 2 bath home, and one 1999 4 bedroom 3 bath home with a pool. I have
been on over 9 cruises, and have traveled the Caribbean, Mexico, Canada, and the USA including Alaska and Hawaii.
The point is one can do a lot on a small income.
F) It is a mathematical statistic, that if you save 5 to 10% of your income every month it will grow, and the sooner you
start the better you will be.
2. Good money vs Bad money (see calculators at www.Bankrate.com)
A) there is such a thing as a good loan, most everyone can qualify for a loan, but not all loans are alike. The best loans
are ones that you can afford and build equity, such as a home loan on a property that is appreciating. A auto loan may
or may not build equity. Financial Leverage can be good in a good market, but does not guarantee gains. My rule of
leverage is 50% principal and 50% interest, most loans of this nature produce positive results. The following example
will use 150,000 for a principal balance at 7% over different terms, See the results below:
40 years payment of 932.15 first month interest $875, total loan interest $297430.52 Total payments $447430.52
30 years payment of 997.95 first month interest $875, total loan interest $209263.35 Total payments $359263.35
20 years payment of 1162.95 first month interest $875, total loan interest $129107.62 Total payments $279107.62
15 years payment of 1348.24 first month interest $875, total loan interest $ 92683.63 Total payments $242683.63
10 years payment of 1741.63 first month interest $875, total loan interest $ 58995.26 Total payments $208995.26
With the 40 year plan you reduce the loan by 57.15 the first month
With the 30 year plan you reduce the loan by 122.95 the first month
With the 20 year plan you reduce the loan by 287.95 the first month
With the 15 year plan you reduce the loan by 473.24 the first month
With the 10 year plan you reduce the loan by 866.63 the first month
The point of this example is long term, may not be good, you may be selling your future. Always consider the cost of
money, inflation and the value of future money, your goal and your future. There is a parabolic curve with long term
loans and a parabolic curve with higher interest rates, look at the 30 year payment vs the 40 year payment, the cost of
the loan is about 88,000 more for only a difference of about $65 dollars a month. Increase the payment from the 30
year amortization of 997.95 to the 20 year amortization of 1162.95 about $165 dollars and save $80,155.73 in interest.
Although most of us cannot afford the $1741.63 payment, the first month the loan reduces by $866.63 and the result is
a loan that cost only 58,995.26 in total interest.
Secured loans are typically better rates than unsecured loans.
Be careful of credit card loans that have transfer fee, universal defaults and jump up rates.
Shop loans aggressively, go to your own bank, credit union, and Internet sites such as www.Bankrate.com or
www.Quickenloans.com. There are many sites that have loan calculators, www.Bankrate.com has loan calculators and
some other loan tools that you may find useful.
Look and read all the terms of the loans, be careful of teaser rates, ARMS and other loans that change interest rates,
such loans may benefit you, but don't just take the word of the person trying to sell you the loan, get professional
advice or other advice if possible, a $200 attorney bill is often cheaper than a bad loan. Often a mortgage broker is
paid based on a rate sheet, which pays the broker a premium if they sell you a loan the lender can make more money
on.
B) never loan money without qualifying the payback and security at least equal to the loan, The quickest way to lose a
friend is to loan them money they do not have the ability to repay. As the saying goes there are takers and there are
givers, keep any and all loan transaction business, no emotions, whether between banks, or friends, think with a clear
financial mind. If you are borrowing can you pay back the loan even in a worse case scenario, if you are loaning money
can you afford to lose the money and never be paid back.
Remember the old saying "a bird in hand is worth two in the bush".
3. Compound interest, Credit card interest (see calculators at www.Bankrate.com)
A) Saving just $25 a month starting at age 20 at 5.5% will grow to $50873
Double the amount and the result doubles
Saving just $50 a month starting at age 20 at 5.5% will grow to $101744
Although this may not seem like a lot of money, it is better than 0
$25 at 7% compounds much faster from age 20 to 65 will result in $95,367
$25 at 9% compounds faster yet from age 20 to 65 will result in $186,511
But the results are not as good when you start late
Saving just $25 a month starting at age 40 at 5.5% will grow to only $14950
Double the amount and the result doubles
Saving just $50 a month starting at age 40 at 5.5% will grow to $29899
B) The average American has more than $5000 of credit card debt
credit card interest rate 9% with 2.5% minimum payment ($125) it will take 191 months with total interest $2048.71
credit card interest rate 12% with 2.5% minimum payment ($125) it will take 219 months with total interest $3,180.08
credit card interest rate 18% with 2.5% minimum payment ($125) it will take 313 months with total interest $7,115.42
credit card interest rate 24% with 2.5% minimum payment ($125) it will take 586 months with total interest $18,812.72
This example clearly shows that each interest rate increases the total interest paid by a multiple
In other words 18% rate results more than double the total interest of 9% as $7,115 compared to $2,048
Increase your payment ($125) by 20% to $150 and the results are much different
credit card interest rate 9% with minimum payment ($150) it will take 39 months with total interest $775.33
credit card interest rate 12% with minimum payment ($150) it will take 41 months with total interest $1,112.48
credit card interest rate 18% with minimum payment ($150) it will take 47 months with total interest $1,983.60
credit card interest rate 24% with minimum payment ($150) it will take 56 months with total interest $3,322.09
In this example the higher interest rate, does not effect the total interest cost as much, and the example proves how a
small increase really reduces the term and the cost. At 24% the difference was $3,322.09 vs $18,812.72 saving
$15,490.63
the results are even worse if the minimum payment is smaller
credit card interest rate 9% with 2% minimum payment ($100) it will take 246 months with total interest $2,829.01
credit card interest rate 12% with 2% minimum payment ($100) it will take 299 months with total interest $4,696.66
credit card interest rate 18% with 2% minimum payment ($100) it will take 553 months with total interest $13,931.13
credit card interest rate 24% with 2% minimum payment ($100) it will take forever, the principal never pays off
4. Keep what you earn, Avoid lawsuits
A) taxes have a great effect on income, Some say the more taxes you pay the more you made, however this does not
always hold true, there is a big difference with tax credits and tax deductions. There are a few things that are true about
taxes, we have all heard the saying you cannot get out of death and taxes. Yet it is also true that keeping track of
every tax deduction will save you money, Guaranteed (unless you owe nothing in the first place). There are several
programs that track this on a computer, such as Quicken, Quick books, and Microsoft Money. Talk to an accountant,
don't overlook the gains for having a sub S or an LLC corporation, for some this is a great benefit, for others, maybe
not. There are many hidden available deductions, such as 179 expenses, there are several websites for Tax information.
B) There other issues that can save money, avoid transactions that might become lawsuits. Even if you are on the right
side of the law and win the case, an attorney retainer fee could cost thousands, and may not be recoverable. At one
time, I owned a bar. I knew several other bar owners in the town, many had been sued, some lost theirs suits, but I will
always remember the one who said he won. I asked him how much his attorney fee was, he said $5000, I asked him,
did you really win, it cost you $5000 didn't it. I told him that I took the approach to avoid being sued in the first place.
It is kinda like the movie "War Games" (The only way to win is not to play the game!). There are many ways to protect
yourself from lawsuits. Consult an Attorney, and an Accountant. Remember making a few dollars is not worth putting
yourself at risk of a lawsuit.
5. Make money work for you, keep time on your side
A) time and money have a direct correlation, 15, 20, 30 year or more loans are all more interest than principal in the
beginning months, good loans are loans that each principal pay down is more than the interest. The same works for
credit cards, the shorter the payoff, the less interest paid. There is another benefit to short term paybacks, that is as
loans payoff there is more money for your own use. This is true anytime the interest rate of any loan or credit card is
greater than the return rate on any secure investment. The current Cd rate is one benchmark as it is Federally insured.
B) investments are the same but in reverse, the higher the rate and the longer the term, typically the better the
investment.
C) Some banks and other institutions offer 1% savings account rates, rates this low, just simply cannot be compounded
long enough to generate any real income. If you have credit card debt, mortgage equity debt, invest in your own debt
and pay down or pay off the credit cards before saving at a rate far below your current debt rate.
D) Capitalization rates vary around the country, but you should be able to find the capitalization rate for your area, any
investment you make should at least return this capitalization rate. Remember the value of money, your return must
also be greater than the inflation rate or your buying power will be reduced.
Investments, stock, Cd, real estate, loans, income,
6. Money losses, bad investments, mistakes
A) Never throw good money after bad
B) A bad investment is a bad investment, don't make it worse by adding to it without full recovery
C) learn from you mistakes, don't make the same mistake twice
7. Lawyers, mortgage brokers, real tors, bankers, stock brokers, parents, friends
A) No matter where the advice is from, consider it might be wrong, check the advice out, use it with caution
B) not all advice has your best interest in mind.
C) always try to collaborate of confirm advice by others if possible
Lawyers, may have other agenda's, and other commitments, a lawyers advice is not necessary "THE LAW" lawyers can
be wrong!
**kb**Take into consideration that you have good Lawyers and bad-sometimes you get what you pay for. Never sign
anything until you get a second opinion. Check with the local Bar Association for a reference, and also google the
lawyers name for a possible negative ie..no license, or practicing out of state.
**kb**a contract that is binding is always contingent upon peoples ability to follow through and honor what they have
agreed to. In the end, if anything goes terribly wrong, if you have a contract and a court is involved the Judge will rule
how he sees fit within the realm of the law, even if the contract states otherwise***
Mortgage brokers, are not always working in your best interest, they have rate sheets that often pay them a higher
commission for selling you a higher interest rate, or even products that benefit the banks bottom line. Make the
brokers compete, use more than one, you should get a better deal.
Realtors, although typically have an obligation to the buyer or seller, on rare occasions both buyer and seller, do not
always do what is best for the buyer or seller. Realtors are commission based, and typically there first obligation is to
there own paycheck!
Bankers, have an obligation to the bank, not you, National Banks often have different deals, due to that amount of
money they may have available to loan, if money is tight, lending qualifications are tight, and interest rates are higher,
if lending money is in abundance then lending qualifications are easier, and interest rates are lower. One bank may be
tight on lending funds and another bank may have an abundance of funds. Find the one that has the funds, and you
should be able to get a better loan.
Stock brokers, do not always have your best interest in mind, and sometimes even if they do, they are simply Wrong!
There is no way to predict everything in the world, in the stock almost anything can change whether a stock goes up or
down, economic issues can change a stock due to company performance, supply and demand can change things,
Politics can change things, environmental changes can occur, including fire, earthquake, hurricanes or other natural
disaster, and last but not least, social impact including just a perception, which may be good or bad. No matter how
good a broker says he or she is, there is always a disclaimer on performance in the paperwork you will sign when you
open an account.
Parents, typically always have your best interest in mind, but they are not always right. Like stockbrokers, parents can
not always predict world events. Typically parents advice is based on what they have learned in their lives, and
sometimes is correct advice, however sometimes that advice is based on circumstances that may have changed over
time. Parents advice may be based on experience or not, ask them where there opinion comes from or what the opinion
is based on. Always consider the advice, consider whether times are the same or not, and could the advice be true and
reliable.
Friends, may or may not have your best interest in mind (bias). Again, friends cannot predict world events. Friends
advice may be based on experience or not, ask them where there opinion comes from or what the opinion is based on.
Always consider the advice, consider whether times are the same or not, and could the advice be true and reliable.
When you consider a friends advice, remember it could be based on their motives, good or bad, as they may be.
Disclaimer: I am not an accountant or attorney, the information provide is for educational use only and not intended as
legal advice or tax advice.
7 ideas for Life of Financial Freedom