Yes. You've probably heard it all before. Spend less than you make and make more than you spend. You've got it, already. Bought the tee-shrit.
But if it's that simple, why are so many people in financial trouble?
Over 20 million American citizens are now "upside down" in their home mortgages.
Credit card debt is higher than ever.
The private savings rate is below 1% (up from near zero a year ago!)
Aggregate US private debt is now above $3 Trillion! Measured differently, other stats show the figure to be above $13 Trillion!
This is a mess. And it has a root cause.
In the first event of a series of live-streaming Webinars, scheduled for Friday, February 26th, 2010 at 7:00pm EST, my friend and co-author Orrin Woodward and I are going to be addressing these issues head-on. The series is called the Personal Mastery Series, for reasons which will become obvious to all viewers, and the subject matter for the first episode is personal finances. The title of the event is, Launching a Personal Finance Revolution, and can be purchased in advance here.
The information we will present IS quite revolutionary, because it will explode most of the myths, misconceptions, and misrepresentations out there about money, its nature, and how financial goals should be considered. It is our belief that nearly everything most people have learned about money is at least a little bit off track, if not downright incorrect. Personal Mastery of proven principles, properly applied to the correct understanding and use of money, is the way out of the fog.
In this presentation, we will make no apologies to the icons of conventional wisdom, who, for the most part, are as silly as body-builders in pink tutus.
For instance, here is just a sample of some of the "financial heresies" we will be discussing:
Spending and credit are actually addictions for many
Net Worth as a financial goal is stupid
Inflationary environments encourage a certain type of behavior, but this behavior becomes unsustainable and exposes one to undue risk
Diversification as a sound strategy is at best a half-truth
"Experts" are usually not
The herd is wrong and about to get slaughtered
If these have gotten your attention, don't miss this inaugural event. Join us for some candid commentary on how you can gain personal mastery over money and Launch a Personal Finance Revolution in your life! See you there.