This is how financially successful people think.
They were already stretched thin. But not for the usual reason, which is spending too much.
They were stretched because they were SAVING too much.
THE SETUP
Their current spending/savings ratio is extremely healthy at 53%, ($95k savings / $180k spending)
They’re on a path to achieve Financial Zen in 11 years at age 46.
They’re already on the far right of the bell curve.
THE DECISION
The last big marble we need to put in their financial jar is long-term disability insurance which will run them about $250/mo.
We discussed it last month, but because they don’t have $250/mo to spare, they wanted to sleep on it.
During their June meeting last week, I asked them what they’re thinking now.
The husband responded without hesitating, “We just need to figure out where to cut $250 a month from our spending.”
S L O W T H A T D O W N
Already saving $95k a year. Already set to retire at 46.
In that scenario, 90% of people would just SAVE $250/mo less.
But unflinchingly, he’s is looking at their spending instead.
Our Financial Zen Masters are a special breed. They get it. They’re wired for success, both financially and for life.
