TRENDS AND OPPORTUNITY

The trends … to be successful today it’s critical to see what the trends are.

Because of my financial services business, I get to see what most of my clients are doing or not doing with their money. I can see how they earn it, how they save it, and how they invest it.

I also see how they spend it, how they manage credit, and what their strategies are for their eventual financial freedom.

Today, most people have been so shaken by the economy and the outlook for the future that they’re frozen when it comes to their money. Fewer and fewer of my clients have the same outlook on their retirement they did just 5 years ago.

The appeal of the stock market is gone. Americans are leaving the volatility of the markets in record droves.

People are sitting on their money or earning less than 1% interest in the banks. In other words, every year most people are losing ground relative to inflation. It’s a very bad situation.

Always remember the Rule of 72. For anyone to double their money given a compound interest rate, just divide the rate into 72 and that’s how long it’ll take. For example, if you can earn 10% compound interest (and that’s not so easy to do these days unless you know the right people) it’ll take you 7.2 years (72 divided by 10) to double your money. If you can earn 12% compound interest it’ll only take you 6 years to double your money.

Guess how long it’ll take you to double your money at 1% compound interest? Clearly, that’s not your solution.

There’s always opportunity out there. Remember that! You just have to know where to look.

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