Baton Rouge Louisiana Real Estate News

    Monday Morning Coffee

INSPIRATION FOR TODAY:

"Money often costs too much."
 
~ Ralph Waldo Emerson
"That man is richest whose pleasures are cheapest."
 
~ Henry David Thoreau
 
IMMACULATE CONSUMPTION!
 
A cartoon recently ran on the editorial page: A very large sport-utility vehicle was releasing a large belch while someone's hand desperately reached out from inside the fuel door, a gas pump lying on the ground beneath. This humorous observation on rising gas prices immediately brought to mind the question, "Are we the consumers, or the consumed?"
 
As the rising cost of fuel forces prices for everything else to rise in tandem, we are likewise forced to consider just how much we're willing to consume and at what cost. As you plan for your future and retirement, forget about all the hoopla surrounding the privatization of Social Security and consider another strategy: Don't spend your money (or at least not as much of it as you have been)!
 
Think what you might get for $1,000: a new sleeper couch, 2 Super Bowl tickets, a riding lawnmower, a three-day weekend getaway? Regardless of how useful or entertaining any of these options might be, imagine how much $1,000 could really cost you.
 
Let's say you're thirty years from retirement and are lucky enough to be managing a mutual fund with a steady return of 10%. (That's really not unreasonable if you are highly pro-active and educated in your investments.) If you spend that $1,000, instead of contributing it to your investment fund, you'll have reduced your future savings by at least $17,400!
 
Do you want that $1,000 now or do you want that $17,400 in the future? Play around with the figures all you want, but the truth will remain constant: wealthy people get that way and stay that way by pinching pennies. Keep your goals well in sight, and avoid the temptation to be consumed by consumerism!
 

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Contact Information

Photo of Pat Wattam Real Estate
Pat Wattam
RE/MAX First, Independently Owned and Operated
4750 Sherwood Common
Baton Rouge LA 70816
Office Direct: 225-298-6900
Office Main: 225-291-1234
Fax: 225-295-1234

RE/MAX First
Each Office Independently Owned and Operated
Main: 225-291-1234

Licensed by the Louisiana Real Estate Commission