TOP TEN REASONS WHY A MAN NEEDS TO SAVE
by Ernie Delfin
Our education, experiences and memories are three things that we cannot bequeath to our heirs. When we die, all these "precious" things die with us and are gone forever. After living a half century on this planet Earth, as a precocious child of God, I have learned so much from the University ofHard Knocks --- many valuable life's lessons which at this stage of my life, I feel now the urge to share with those I love dearly, including my loyal readers. Had I started from a higher socio-economic ground and had I known and applied these time-tested Principles of Success (in all of Life's quadrants: physical, social, mental and spiritual) much earlier in life, I would have been a better, happier and more fulfilled successful person today. Considering my humble beginnings in an obscure farming village in the Philippines, versus where I am today, however. I feel that it is not really that bad after all. I used to say I am a self-made man, but it is now more appropriate (with humility) to say that I did the best I can with the talents that That Somebody Up There has given me and He graciously blest my human efforts that brought me and my family to where we are today. Indeed, our life is our gift from God, and what we do with our life is our gift to God. Among the things I have learned early in life that became more valuable every year I've lived in America is in the area of savings and investments. As workers, employees, laborers and breadwinner, young and old are pre-occupied with the business of living, I feel the extreme importance, like a parent to a child, to convey and leave some gems of wisdom so that the child can have a better life than his parents. To the young people of the world, I plead you to read and heed this financial advice on savings which everyone who is earning a living has the power to create and control its continued existence or cause its premature death. You must start believing that savings have that profound value that becomes more apparent with the passage of time. The growth of your savings is somewhat analogous to the invisible yet magical rewards of responsible parents in witnessing their children metamorphose into good citizens and becoming their own successful and fulfilled human being. With that emotionally charged introduction, Let me now share you my TOP TEN REASONS why a man must save (and invest):
1. Your savings affect the way you stand, the way you walk, and even the tone of your voice. In short, your physical well being and self-confidence. A man without savings is always running. He must take the first job offered, or nearly so. He sits nervously on life's chairs because any small emergency throws him into the hands of others.
2. Without savings, a man must be too grateful. Gratitude is a fine thing in its right place. But a constant state of gratitude is a horrible place in which to live. A man with savings can walk tall. He may appraise opportunities in a more relaxed manner, have time for judicious estimates and not be rushed by economic necessities.
3. A man without savings is always prone to react often displaying more form than substance. Without savings, a person's confidence is easily eroded as his daily chores revolve around tension-relieving activities instead of indulging in income producing endeavors while surrounded with more relaxed, happier and productive people.
4. Without savings, a man delays decisions that are good for him and his family and often misses opportunities in his lifetime, like associating or running with true winners in life. For lack of savings, he is relegated to the backseats of life, envying the gaiety and camaraderie of those who have.
5. A man with savings can afford to resign from his job when his principles so do dictate. And for this reason he will never need to do so. A man who can afford to quit is much more useful to his company, and therefore more promo table as he can afford to give his company the benefit of his most candid judgments. He does not need to kiss somebody's you-know-what.
6. A man with savings can afford the wonderful privilege of being generous to this family or to his neighborhood's emergencies. He can take the level stare of any man, friend, stranger, or even his enemies. This priceless commodity adds to his personality and character.
7. With savings, a person can afford to order from "left to right" in expensive hotels or resorts without being nervous with the bill. Man without savings is forced to stay with friends and relatives' homes when he is out of town.
8. With savings, you do not have to feign your happiness or contentment; you do not have to live in a far-away fantasyland. While it is true that money (savings) can never buy true happiness, it definitely serves as a nice down payment! Believe it or not, it is more fun to suffer in comfort than to agonize in misery.
9. The ability to save, fortunately, has nothing to do with the size of one's income. Many high-income people spend it all. They are on the treadmill, darting through life like minnows. In his classic book, The Riches Man of Babylon, Clayson admonishes strongly that every person must affirm and declare, "I must pay myself first because a part of my earnings is mine to keep!"
10. Lastly, heed the advice given by the Dean of American bankers, J.P. Morgan, to a young broker, "Take waste out of your spending; You'll drive the enjoyment out of your life!" Perchance some of us no longer need more money for college, a home, retirement or vacation in a nice resort, and then we must just save for self-confidence, and as a role model for others.
The state of our savings does have a lot to do with how tall we (or a nation, for that matter) talk or walk in this world. After all, next to our personal relationship with our own God, faithful action in taking care of our families is our primary responsibility and this can be fortified by habitual savings and investing them wisely. Religiously doing this habit builds not only our character but increases a comfortable nest egg. What we do now, not tomorrow, is the beginning of what we do next. Our savings are the seeds of what we can harvest tomorrow.
THEREFORE SAVE NOW AND INVEST !! The author is a retired CPA, financial advisor, and founder-owner of Progressive Funders and Realty Group. He is also a Registered Principal with SCF Securities, Inc.
THEREFORE SAVE NOW AND INVEST !! The author is a retired CPA, financial advisor, and founder-owner of Progressive Funders and Realty Group. He is also a Registered Principal with SCF Securities, Inc.
