Still Waters Run Deep: The Biggest Threat to Your financial future.
What is the biggest threat to your wealth?
 Your financial independence is quietly warm-eaten by the “bark beater”, called negligence. Believe or not, that’s one of the most ruinous things that can rob you of money over your lifetime. How might this happen? Hmmm… Your boss is calling you. He’s got an emergency complaint from a client. But your mom need to break in on call, again, complaining about your sister's boyfriend. Whereas, in the back of your head you hear: "Should I have refinanced my home mortgage to get a lower rate?" or “When the hell will I have time to set my retirement plan?” or “Damn, I forgot about the fee for this month. They will hike up interest’s rates!”
That’s enough to try the patience of a saint! You are really busy. You don’t have time to set your files in order. Bills, fees, college tuition, house-, auto- or health- insurance, whatever else… wouldn’t it be much easier to keep all this under control in neat, coordinated folders? Oh My… do you invest…? Do you know what returns you get? Yeah, that’s a pretty good achievement, you managed to check the performance of your 401(k) funds this year.
It can cost you plenty.
How lucky your nerves, you’re not aware of how much your financial neglect may cost you. You don't find any statistics measuring its effects, like inflation. And it doesn't sound nearly as terrible as a market crash.
Lucky your nerves are not yet frayed. But it will cost you plenty, summed up, if you don’t take measures on time. These $6,000 in a savings account that doesn't pay interest, it could give you even 5% in good account (extra 300$ this year). You haven't taken the time to switch to a free checking account, but those bank fees you're paying every month could stay in your wallet or even give you interests. Did you look up those credit statements? Identity theft could cost you dearly. All you have to do is find the time to get it done.
Make the time.
Turn off your cell phone for the afternoon. Hire a neighborhood teenager to mow the lawn. Get a babysitter. Order food online and have it delivered. Free up a few hours once a month, even if it costs you a little bit of money. Now set up the online portfolio tracker. Use it to track and manage your finances and assets all in one place. Or at least set up financial filing system in smart folder. And let your money work for you.
Take care of the pence and the pounds will take care of themselves.
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