As you age, one thing will increase if you’re financially productive.
Your income.
But with income increases comes responsibility, and many of us don’t want to deal with fiscal responsibility.
We want to have fun and enjoy life.
It’s no fun not spending more money as your income increases, but it’s the intelligent thing to do.
Should you never spend your money? No. Enjoy life.
But what do most people do as their income increases?
They increase their spending.
The Best Advice I Perceive As A Gift
Some of the best advice I’ve ever received is to do the opposite of what most people do.
If you do this, you’ll be more successful because most people aren’t successful — especially financially.
What do most people do with their money? Let me lay it out for you:
Spend more than they earn.
Consistently increase their debt loads.
Maintain a car note that drains money from them financially.
Live in homes that drain their monthly income, leaving little to invest.
Care more about what people think about how they appear, which leads them to overinvest in appearances.
Pay for their school with student loans instead of finding alternate pathways to get it paid for or pay for it as they go.
What I Do Increase As My Income Increases
As my income increases, my expenses don’t increase.
But there is one thing that increases.
My investments.
Whenever I experience an income increase, I’m more excited not about how much more I can spend, how many new clothes I can buy, the next pair of shoes I can add to my collection, the opportunity to buy a new car, or how many homes I can afford, but how much more resources I can pour into my investments.
Average people don’t think like this.
They’re focused on short-term pleasure instead of the long-term rewards.
The Common Theme For The Golden Years
The golden years are infamously supposed to be equated with prosperity.
But for many entering their golden years, no GOLD can be found!
The primary reason is that short-term goals, short-term pleasure, and short-term rewards consumed them throughout their years.
If you never master short-term impulses, you will never experience financial independence.
Even people with loads of money will be broke if they can’t master short-term impulses (financial discipline).
Always keep the end in mind, as Stephen Covey so famously states.
If you’re not on track with your financial goals, hold off on every financial decision that could jeopardize your progress.
Enjoy Life, But Prioritize Prudently
Once again, enjoy life!
I invest my money into travel, experiences, and people.
What matters most to you?
Many people consumed by materialistic desires will quickly learn there is little to be found in the accumulation and investment of things.
This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.