Wealth Creation

What brought you to our wealth creation page today? Are you caught up on bills but unclear on what to do with the money you have left over each month? Could you benefit from a personalized spending and savings plan that would ensure that you have MORE money left over each month? Or are you just web surfing and stumbled across us?

Whatever brought you here, take a moment to consider a few eye opening facts:

• If you keep money in a simple savings account you are probably earning between .05 and .10% interest. Did you know that it will take 1,440 years for $1 to become $2 at .05% interest?
• Financial experts often point out that the S&P 500 stock market index has averaged an impressive 10% over the last 80 years. Here is an interesting related fact. If on the day of a child’s birth $1,675 was invested and earned 10% for the next 67 years, that 67 year-old would have $1 million in retirement savings.
  • At 5% interest that same $1,675 would only increase to $44,000 in 67 years!
  • At .05% interest (what many savings accounts pay) it would only increase to $1,732 in 67 years! 
• Guess how much you pay in interest for a $150,000, 30 year mortgage with a 4.5% rate? A whopping $123,610! So in total you’re paying $273,610 for your $150,000 loan.
  • It might surprise you to learn that by paying just $50 extra each month you’d save over $17,000 in interest and you’d pay the loan off 3.5 years early!

If these figures surprise you you’re not alone because only 1 in 10 adults learned about personal finance in school or from a financial professional. Yet seeking the guidance of a financial professional is no guaranty that you’ll be better informed than your neighbors. Wall Street corporations employ financial advisors and often use those advisors, coupled with a big advertising budget, to convince their clients that the principals of wealth creation are highly complex. Their financial advisors then proceed to recommend to their clients that they invest money in specific stocks and mutual funds that they claim will earn a great return. Frequently they don’t view as a high priority educating their clients so their clients can make good self-directed choices, for they’d rather continue to sell their clients fish than teach their clients how to fish.

Success Path Consulting uses a very different approach. OUR WEALTH CREATION SHERPAS EMPOWER YOU by teaching common sense conservative wealth creation principals. Fad investments come and go, sadly so does the money that fad chasers choose to invest in them, but sound money management principals withstand the test of time. Sound money management principals are little changed since Benjamin Franklin wrote “The Way to Wealth” and since our grandparents navigated the challenges of the great depression. Call to schedule a free initial consultation. During this consultation we’ll take the time to gather the information necessary to understand your current financial situation and just as importantly for you to explain your long and short term goals. We will then begin drafting a plan – your personalized Success Path - that aligns with your goals. We take the time to share our knowledge with you so you can make better self-directed choices, for as Benjamin Franklin once said, “An investment in knowledge always pays the best interest.”

Check Out Our Wealth Creation Blog Post:
http://www.successpathconsulting.com/blog/?p=158