Dynamic Chiropractic – November 16, 1998, Vol. 16, Issue 24

The Food Chain

By Stanley Greenfield, RHU
I am sure that all of you remember learning about the food chain when you were in school. I found it quite interesting. In the ocean, the small creatures get eaten by the little fish, who get eaten by bigger fish, who get eaten by even bigger fish, and so on.
Everything devours something smaller than what they are, but eventually they get eaten by something bigger than themselves. It's the law of the jungle.

I have a question for you. Where are you on the "financial" food chain? Are you still lurking at the bottom, afraid to venture out because you know there is something out there just waiting to have you for lunch? Not a very secure feeling, is it? Do you feel like a guppy in a sea full of sharks? Maybe it's a good time to move yourself up the food chain and "swim" with the big fish. Sound like a good idea? Then take my fin ... excuse me, my hand ... and let me lead the way for you.

The vast majority of the world is lurking on the bottom trying not to be devoured by some bigger creature. The majority are living, or should I say just existing, and are about 15 minutes away from bankruptcy at any given moment in time. It's kind of scary, but true. Life does not have to be that way. There are a few basic simple things that you can execute today that will take you from the bottom and move you up the food chain very fast. Are you ready for the quantum leap?

Tell me about your personal finances. I am sure yours play like any soap opera that is on television today -- very sad. You get some money in and deposit it into your checking account. The next thing you do is open it to all the "bigger fish" or companies that you owe and allow them to feast on your money -- a feeding frenzy! After "they" are finished, you get what is left over ... if there are any leftovers. Sounds pretty sad to me.

Why not move yourself up the food chain and partake of this feast before you open the gates to the big fish? How, you ask, does one accomplish this? I'll tell you! Let's back up the picture again to the part where you get some money and put it into your account. Right before you do that, you need to take some of it and put it aside just for yourself.

If you are like most of us and have to pay taxes, you should be doing this already so that when your quarterly estimates are due, you have the money to pay the IRS. I would suggest that for every $100 you get, you put aside no less than $200 for taxes. No longer will you be scrambling and scratching for money to pay the IRS. You will have it and it will be waiting for you to write that check. That should eliminate a lot of stress in your life.

Okay, we have taken care of the IRS, but what about you? In the beginning, the 20% you put aside should be more than enough for taxes. Once you get used to 20%, why not increase that amount to 25% -- maybe even get it to 30%. Now you can cover taxes and even have money for a retirement plan and a savings plan, too. Wow! What a concept. Now you are up there with the killer whales!

Is it really that simple to take control of my finances, Stanley? Yes! This is just a small part of the process that I do when I work with a client and review their overall financial picture. We start small and grow. It's amazing how fast those dollars can grow. Not only do the dollars grow, but so does an individual's confidence in themself and the fact that they are now in control of their financial future. Sort of a warm fuzzy feeling you gain from swimming with the big fish!

The process can make a huge difference in a person's life. Take, for example, a doctor age 35 who puts aside $100 a week until the age of 65. Let's assume that they are able to get a 10% return on that money. At age 65, the doctor would have almost $1,000,000 cash! Let's assume that the same person comes to me for advice and gets set up on that same program when they are age 30, just five years earlier. What will they have at age 65? Over $1,500,000! Has a nice ring to it, doesn't it?

Managing your finances is not an event: it is a process, just like chiropractic care is for your patients. I have now given you one small step in that process. Imagine what you can accomplish with the entire process! Do you need some help with this process? Why not visit my new website at www.stanleygreenfield.com or e-mail me at my new e-mail address below. I warn you: don't do this unless you are ready to swim with the big fish!

Stanley B. Greenfield, RHU
1551 South First Street, Suite 701
Jacksonville Beach, FL 32250
(800) 585-1555

Click here for previous articles by Stanley Greenfield, RHU.


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