Filling Your Financial Buckets
Your chance for true financial wealth increases dramatically when you have a system in place that you adhere to. Wealth trainer, Lee Brower, author of The Brower Quadrant, advises breaking wealth into four "buckets" and filling them in this order:
1. Gratitude. Give back first, prime the pump. Take at least 10% and give it to causes that you support and enjoy. Doing so will change your confidence and your attitude.
2. Security. These are the assets that provide you with a roof over your head, insurance, savings in the bank and so on. Know what it takes for you to have that each month.
3. Retirement. Assets can ensure a secure future. Do you have 401(k) in you workplace? Can you take advantage of IRAs? Should you be buying a little house to rent?
4. Get Rich. Many people want to fill up this bucket first, but it's very wobbly and can tip over. Don't invest in this one until you have a firm handle on the others, and never risk assets in buckets two and three to do so.
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