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Why Wealth? August 1, 2008

Posted by shaferfinancial in Uncategorized.
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I have made some comments around the net about wealth creation (go figure!).  On a fairly regular basis I get a comment that calls into question the need to put wealth creation on the front burner.  Now I understand this, many people are ambivalent about money and have long-term issues with it.  But, what I find really interesting is that there seems to be a high correlation between the Dave Ramsey/Suze Orman debt is evil crowd and this antipathy to wealth.  I wonder why that is?

On one hand these folks are, dare I say it, religious, in their belief that debt is bad, yet are unwilling to take the next step to independence which is becoming a wealth creator.  They become active about getting rid of debt, yet remain passive about the other side of the equation cash flow.  One blogger even told me that a contented life is one that is debt free, where he can spend his money as he wants.  That of course makes little sense, because you always spend your money on things you want even if you go into debt to do it.  And homeless people are debt free, yet are they contented?



Then it struck me.  Ramsey and Orman ask little of their audience.  No, they only reinforce commonly held beliefs about money.  I mean who really thinks having a large amount of credit card debt is good?  Who really likes the pressure of having to make that mortgage payment every month?  When I was a young man I had a sales manager that encouraged all his young salespeople to go out and buy an expensive car.  Why?  Because then they would work that much harder, in order to make that car payment! Yes, we all like to own nice things, but hate to pay for them. 



What is the other commonly held belief Ramsey/Orman reinforces?  That finance is for the experts, not you.  You should turn your money over to someone else that knows more than you about money.  Usually, that is a combination of experts like themselves and mutual fund companies.



So it is easy to believe in what they are saying, because those thoughts already exist in our heads.  No one wants to live with the constant threat of debt collectors and the self-image destroying threat of foreclosure and bankruptcy. So we blame ourselves for our wants, falsely thinking that is the problem.  And the majority of people don’t understand how money works, so it is easy to think relying on the “experts” is the way to fix that.




This passive/aggressive act has got to go.  Passive/Aggressive behavior lets you dodge unpleasant chores while avoiding confrontation.  You see, by emotionally concentrating on getting rid of debt, you can avoid the real cause of your pain, which is lack of financial independence.  Gaining financial independence requires hard work, both emotionally and intellectually.  And a large part of that hard work is learning how money works and developing the willingness to accept the responsibility for your financial life.

So to all the followers of Ramsey/Orman, I will answer the question, Why Wealth?  Because true independence and contentment means having enough wealth to create the exact life you want to live.  It means being able to tell your boss to shove it, if you want.  It means being able to build healthy relationships with others, not based on financial need or wants.  It means taking control of your life away from anyone or anything that doesn’t value it.  All that insecurity you feel about having debt, I feel about having to depend on the whims of a boss or a company.  In a short period of time, I have developed enough wealth that if I wanted to live frugally, as you suggest, I never have to work another day in my life.  And guess what, I accomplished this through the judicious use of debt.  Is there pressure on me to make my payments every month?  Yes, but only because I want to increase the size of my investments.  If I wanted to shut it down today, I could. And that is where peace resides! The road is mine to go where I want to.   

So here is the challenge.  If you get what I am saying.  If you want to build real peace through financial independence, then go to www.shaferwealthacademy.com and fill out the contact form.  Or just pick up the phone and call me @ 727.822.8379!  Make the road yours to take you where you want to go.



1. Joshua - August 1, 2008

“All that insecurity you feel about having debt, I feel about having to depend on the whims of a boss or a company.”

If what you said was a map, there would be an arrow for me that pointed to that text and said, “You are here”.

2. shaferfinancial - August 2, 2008

Did you get my response to your contact e-mail? Sent it twice, the first time it failed.


nice information i really appreciate it..
thanks a lot…

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