Once you get started on a plan to save as much as possible and then buy income-producing assets, there’s an urge to start telling family members, friends and co-workers about your intention and your efforts.
I have to say, there’s nothing worse than getting your excitement shot down by well-meaning loved ones.
Saving every nickel, dime and quarter is a lot of work and there is a level of sacrifice involved that people who don’t watch their money and have a plan for using it wisely cannot understand. “Oh, send some of that extra my way!” You might hear on more than one occasion.
My solution to this is to have your plan, write it down in a notebook you keep at home, and then keep it to yourself. Period. If you have to talk with someone about your plan, talk with your financial advisors such as investment folks, your tax professional, and so on. Heck, I even have financial talks with my doctors because it seems I have the same goals as a couple of them. But for family and friends, it’s best to keep these plans to yourself so you don’t get discouraged.
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