The Number One Mistake Financial Planners Make

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 141-May 21 “Everyone must row with the oars that he has.”—English Proverb Years ago, when I was first starting to earn good money, I thought I would go to see a financial planner to get started saving and investing for my retirement. We talked about my goals, and what amount of money I would like to live on when I was retired. Then she made The Mistake. She calculated how much money I would have to have saved by age 65 in order to have enough to retire, adjusted by inflation. I remember the amount, because it seemed enormous and totally unreachable: $1.2 million. She told me that I would have to start … [Read more...]

Low Budget Blues

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 140-May 20 “More than ever before, Americans are suffering from back problems: Back taxes, back rent, back auto payments.”—Robert Orben Low Budget is a useful tool for occasional use. But too often I see people with the Low Budget Blues. They’ve gotten into the habit of Low Budget. They think poor: Tighten the belt, do without, never buy new, can’t afford it, shop at garage sales, eat cheap, sleep cheap, think cheap. It’s great to be able to do this during a recession, a cash flow problem, between jobs, after a loss, or to save additional money for a large purchase. But too often people buy into Low … [Read more...]

Find Another Way to Have What You Want

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 137-May 17 “It is surprising how many improvements can come out of things that go wrong.”—Anonymous In the end, financial stress reduction is simply this: Earn more Spend less Find another way to have what you want When we’re doing all we can to satisfy the first two requirements and yet when we see things we want that cost money, what can we do to stay within our budgets and still get what we want? This is where you earn your graduate degree from M.S.U. (Make Stuff Up). In the habit of spending a lot of money on clothes? Learn to sew, or trade services with a friend who sews. Buy … [Read more...]

Forgive Us Our Debts

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 136-May 16 “If you think nobody cares if you’re alive, try missing a couple of car payments.”—Unknown I know what it’s like to be unable to pay your bills. In fact, things once got so bad for me that I filed bankruptcy. I had been on top of the world. My bookkeeping service had doubled every year and was now generating approximately $450,000 per year. I had twelve employees and a beautiful new office suite. But I had one major client who accounted for 75 percent of my income, and when they left with a mere two weeks notice, disaster loomed. Since I was absolutely strapped for cash, having been left … [Read more...]

Honor the Warriors

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 135-May 15 “The ultimate test of man’s conscience may be his willingness to sacrifice something today for future generations whose words of thanks will not be heard.”—Gaylord Nelson Some of your goals may not be accomplished in your lifetime. But they are worth your effort, nonetheless. They are your gift to those that follow you. Likewise, it is important that we honor those who came before us, and gave us gifts through great sacrifices of their own. Susan B. Anthony and Elizabeth Cady Stanton worked tirelessly, all their lives, for women to have the right to vote, but died before the amendment was … [Read more...]