Since these blogs I have been writing have been now going on a couple of years I forget that there are new people who come to the site for the first time! I can’t assume they will go back and read all my past blogs. So today as we come up to July 1st (the beginning of the second half of 2024), I thought I should do a recap.
First and foremost is what is the Mathmatecum? It is an organization that provides its members a way to receive a lifetime of guaranteed passive income! In addition, it is an avenue towards generational wealth with a onetime payment based on the new member’s age. No member pays more than $125.The oldest new members pay the least amount of $30.The Mathmatecum is just now completing its sixth year and has made its required five yearly payments to members.
Along with the Mathmatecum’s raison d’etre, I have tried to provide advice on things financial for young and old. Whether those individuals are among the financially fortunate or those who have started at the bottom and had to work hard to survive and enjoy life. Too late for many, they learn by trial and error what they should have done from the beginning of their life and work experiences. Now that it is July so many of our younger people have graduated from high schools or other institutions and will be starting first jobs. This provides a starting point for anyone’s financial future. Most advice says one should start saving a percentage of income, but I believe that that does not work in the real world because of all the upfront costs of starting life. I propose that savings should start with saving ONE hours pay on a weekly basis. This should be the case no matter what it might be even if minimum wage is only $7.25 as in 20 of our most economically backward states. How and where to put those savings can be found in past blogs. The key is to start saving yesterday and never stop because the power of time and compound interest is mind boggling.
I get a bit tired of reading on the internet the daily question ” is $500,000 in savings enough with social security to retire”? Then the answer given after various scenarios is how one should have a financial advisor and what ones to use. I am not against financial advisors and believe everyone should have one if they have need of one! The key is if one is needed it is better to seek advice from a CPA or a lawyer as to whether one is needed. In too many cases it is lifestyle that needs altering and not a change in investing management.
Just an aside my favorite set up is “my wife has died, and my real estate tax has now doubled and without her income I don’t know what I should do”? No mention of a life change, just a strong suggestion – you guessed it – get a financial advisor. Be careful!!
JAI BABA
TTFN
JU
