Three types of money

Three types of money

We do things differently, and keep our initial focus on transferred dollars. This gives us an opportunity to increase ones Circle of Wealth with no additional out of pocket cost. Avoiding unnecessary transfers frees up money to save and/or increase current lifestyle.

There are basically three types of money. The first, which gets the most focus, is your Accumulated money. This represents the amount of money you currently have invested and are currently saving. (click Accumulation Wedge to start RRON loop) On a scale from one to ten, how would you say you are doing in accumulating the dollars necessary to meet your future retirement needs and goals? Any answer less than ten would mean that perhaps you should be putting more money away. (After returning from RRON) One reason that keeps people from saving is Lifestyle. Lifestyle money represents the dollars that you are spending to maintain your current standard of living. Where you live, eat, vacation etc. How much energy would you like to spend towards reducing your present standard of living so that you can save more? We know we need to save more and want to do so but the only way we know to get the money is from our lifestyle. This brings us to the third type of money, which is Transferred money and is a problem for some. Transferred money represents the money you may be transferring away unknowingly and unnecessarily. Obviously, if you knew where the transfers were taking place you would have already solved those problems. As we visit today, I will explore with you a few possible areas where you may be transferring money which can be recaptured. I feel it is important to begin focusing on money you may be transferring unnecessarily because this most often has the biggest impact on your Circle of Wealth over time. The interesting thing is that by avoiding unnecessary transfers, dollars are then freed up to put towards accumulation or lifestyle with no additional out of pocket cost. So far, how does this approach fit with what you are looking for? Great lets continue.

No math presented on this screen.