Last weekend, I cleaned out my son’s bedroom, reviewed Nerdwallet articles, and did normal mom organizing and planning stuff. Meanwhile, my daughter lounged, read her book, and worked on her tan. Of course, I got annoyed and asked her when is she going to start working on a writing competition she had talked about.
Push back after push back she came up with excuses.
She wasn’t building any personal equity doing nothing.
So what did I do?
I placed a tax on her.
I finally told her she can’t see her friends this week until she submits the paper for the competition.
Suddenly there was a huge explosion.
She blew up at me.
I told her she isn’t making a good decision that will increase the odds of her getting into her dream college in 2 years.
The funny thing is... this is what is going on with the economy.
People want things now, want to have fun now, and enjoy themselves now.
So the Fed has placed a tax on us, by increasing interest rates.
To make us work harder to grow and not lounge around.
Crying hysterically my daughter then decided to take action.
She started to build out an app for the iPhone.
She felt good about what she created.
If teenagers and sometimes us adults could remember the importance of delayed gratification then you can build equity and get much better deals in the future.
While others are partying, paying premium prices for used cars, and waiting for the hard reality of the slow down in the future, you can do something now.
The Fed is acting kind of like a parent to the economy.
It has to kill this overheated economy and in turn, help make us more disciplined in our buying behavior. The only way to do this is to increase the cost of money.
Both my tough parenting and the Fed's tightening grip are working.
The economy is slowing so it's time to shore up your balance sheet, and building equity is what you do.
If you need to do any type of financial or portfolio review, now is the time.
Your Friendly Wealth Engagement Guide,
Wealth Engagement LLC
3715 Northside Pkwy NW
Building 100 - Suite 500
Atlanta, GA 30327
Office: (404) 795 - 6124 / (917) 826 - 5955
Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security.