In my investment classes, I tell my students that any woman can become an investor—and in the process put herself on the road to financial security—simply by putting aside as little as $50 a month. Invariably, someone in the audience will raise her hand at this point and say, “David, I’m living paycheck to paycheck. I’m in debt, and I’m barely making it. I don’t have this $50 a month you keep talking about.”
One day I challenged just such a young woman on her assertion that she didn’t have enough money to invest. Deborah was 23 years old and worked at an advertising agency. She wasn’t being paid a whole lot, and she insisted there was no way she possibly could put $50 a month into her retirement plan at work. As she put it, she was “dead broke and destitute.” So I asked her to take me through her average day.
“Well,” she began, “I go to work and then I research—“
“Do you start your day with coffee?” I interrupted her.
A friend of Deborah’s who was sitting next to her started to laugh. “Deborah without coffee in the morning is not a good thing,” she said.
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| jwzest | |
| I think our standard of living is more than financial stability. Happiness really doesn't only depend on how much money we are able to save. This doesn't mean I'm suggesting not to be careful with spendings. But giving up a lifestyle that makes you happy might not lead to contentment when you retire. | |
| MorganC | |
| So true. I can't just get A coffee. I have to get the crumble cake, and then the Starbucks mugs always get me. They're so cute and seasonal. Geesh. I'm in the trap. | |
| sarabel -- Miami | |
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| Alliekat03 | |
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| CoffeeAddict | |
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