Major Transfers Of Your Wealth
In your everyday existence, you are confronted with transfers of your wealth.  You continuously, unknowingly and unnecessarily, give or transfer money away.  Not only do you give this money away but you also lose the ability to earn money on that money once it is transferred.  This compounds your loss.  To eliminate or reduce these transfers, you must first learn to recognize them and then understand how directly or indirectly they cost you money.  You may have to confront conventional financial wisdom.  Remember, the ones giving you these financial programs tend to profit from them.  Always ask, who would profit from these transfers?  Here is a list of the transfers of your wealth we will be discussing:
  1. Taxes
  2. Tax Refunds
  3. Qualified Retirement Plans
  4. Owning A Home
  5. Financial Planning
  6. Life Insurance
  7. Disability
  8. Purchasing Cars
  9. Credit Cards
  10. Investments
These ten transfers can create financial losses for you.  You should study each one and determine how they will affect you.  On the surface, the transfers seem pretty basic.  It is not until you think a layer deeper that you find that these transfers may cause unintended consequences in the future.  The future demographics of the country will affect everyone’s financial future.
Things You Can Do with Money
There are only three types of money in your life – lifestyle money, accumulated money, and transferred money.  Now that you know that, you probably won’t be surprised to find out that there are only a few things that you can do with your money. You can simply spend it, save it, transfer it, or give it away. By far, your savings consumes the least amount of your money compared to the money that flows through your lifestyle money and money you simply transfer away. But, your ability or inability to save money receives more publicity than the other two types of money combined.