Monday, November 7, 2011

Money

Recently I discovered a confluence between two episodes in my life that surprised me. During my years as a financial planner I came to understand that how much money you earned was less important than how you handled your money. I saw many situations where people who earned more faced more severe money problems than those who earned less. I came to understand that some people were good at managing their finances and others were not.
In my retirement years I volunteered to help people file their income tax through the AARP and here I discovered the same idea of handling your money but from a different perspective. Case in point. A young man married with three children and a stay at home wife works at Walmart making $9 per hour. Although his gross income is only $18,000 per year he received benefits from various government programs that brought that up to $29,000 per year. In addition he has about $6,000 per year in benefits. What he gets for this is a lot more than his income. He has a job which requires very little formal education, (no college debt), very little training and very little stress. He works a forty hour week and has time to concentrate on being a good husband and father.
The point I am making is there are people who are far from rich, monetarily speaking but because they know how to deal with money have lives that are very rich

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