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There is none so blind as those who will not see! June 27, 2008

Posted by shaferfinancial in Uncategorized.
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Study after study has documented the difference between those that build wealth and the majority that don’t is based on attitude and how one thinks.  But that fact doesn’t change anything for the readers.  So you know that in order to build wealth you need to change the way you think.  But how?  That is the problem that I have been dealing with both personally and professionally for twenty years.  It finally clicked for me about 10 years ago, but it took 5 years to fully implement.  The results were wonderful and allowed me to build the life I wanted.  Part of the implementation was sharing with others what I had done for myself so I created the Shafer Wealth Academy  (www.shaferwealthacademy.com).  Now it is my privilege to help clients build the mind-set to create wealth in their lives.  Frankly, I talk to many people who choose not to become clients and that is frustrating to me.  Why, I wonder?  They are obviously in need of help as they are uniformly not wealthy. 

I have come to believe it is that word “security.”  It is ironic that in an environment where the majority of folks are constantly in danger of losing a job, losing a home,  retiring poor, losing money in investments, etc. that they consider the way they are currently living a safe and secure environment, something to cling to, but that is the way it is.  I guess I have to be the bearer of bad news and tell people that the security they feel because they get that paycheck every month or because they throw a little money at a mutual fund every month or they are paying off their mortgage every month is not security but blindness.  The only security in our current economic environment is the security of being able to be independent.  To not need an employer, to not need an financial planner, to not need any financial expert, to not be dependent on anyone else for your livelihood.  Once you have THAT feeling, you are truly secure.  Once you are secure you might choose to work for someone else, or you might choose to work with a financial expert, but that is a choice not a requirement for you.  Now I use a particular kind of “shock therapy” to help people get to that point, called net worth analysis.  If you figure out your current net worth and working net worth you get the real picture of where you are financially.  That to most people is a shock. 

We have been taught the way to react to that reality is to become more frugal.  There are a multitude of folks out there that will tell you by getting out of debt, becoming more frugal, etc. you will solve your financial issues.  But does that make sense?  After all you haven’t really changed anything other than impoverished yourself more by cutting your spending on things.  Does that make you feel more secure?  Does that change the way you think?  Does that make you feel better about your life?

The truth is it is better to not be in credit card debt, to not spend more than you make.  But I fail to see how this fact makes you feel better, more secure.  No, its just saving so you can spend later in life when you are no longer economically valuable enough to anyone that would pay you to work.  And the results of this thinking most of the time, ends up with folks who are dependent on the government. 

Are we starting to see the theme.  That security folks feel is really dependency.  Just as a child eventually gets thrown out of their parents home and has to make it on there own, folks need to step up and throw off their security blankets.  That is what we teach at the Shafer Wealth Academy.  How to step by step throw off that security blanket and become financially independent.  And that is why many folks don’t join.  That security blanket feels so good!  There is an old proverb that sums it up: There is none so blind as those who will not see! 

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