Ok, now ask yourself again and this time be honest. Might you survive on just one and perhaps trade the other for something more economical and easier on the budget? Do you buy a new car every two or three years? What if you kept that car for five years and enjoyed some time without a monthly car payment. People do it and they don’t appear to be harmed in any way. In fact, having only a $200/month car payment or no payment at all means more money to invest and save for the future. Try it!

While you will want to read the original article, here are the other two legs to whet your appetite to learn more:

Leg 2 – “Increase your income by improving job skills or changing jobs — or consider working overtime or starting a new business.”

Leg 3 – “Invest wisely by learning what is necessary.”

Don’t focus on just one or two legs of the three-legged stool. In fact, each is just as important as the others. Follow the advice in the original article with the expert assistance of your financial advisor and you will be building your financial success on a secure foundation.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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