MAKING YOUR MILES COUNT Robert D. Scheper
Our Future is Our Choice For nearly two years now society has had to deal with an issue that has dramatically altered people’s priorities and perspectives. Entire industries and markets have either disappeared or have been dramatically altered. The changes in some industries have been more than just from restrictions. People’s spending habits have changed because of their change in priorities. Changing spending habits (over time) will dramatically change anyone’s future position and level of stress if the changes achieve the right goal. I have just walked several dozen clients through the process of closing their corporation/business. They were unvaxed clients and wished to stay that way. Most, if not all, have gone smoothly. Some situations were much more casual than others. In fact, about half of them had very little stress associated with this dramatic change. It had little to do with the political issue; it had almost everything to do with their financial position. They were (and had been living) debt-free. They were not focused on selling a truck to meet the payments. They decided to just park it on their driveway and pay the storage insurance. One client who went to the DMV to secure storage status on his truck was greeted by a teller who said, “another 14 • OVER THE ROAD
one?” and pointed to a high stack of applications she had been processing. Living debt-free is a lifestyle too many people just do not think is possible. Imagine not having any credit card payments, no loan payments, no car payments, no truck payments... and yes, no home mortgage payments. The only payments that need to be arranged is insurance and utilities. Imagine one more scenario, having a 3–6 month emergency (living) fund in a savings account (in case of a shutdown or crisis) and an auto replacement fund in cash. So, the cash is already sitting there in the event your existing vehicle(s) need replacement (because say, you were in an accident). What would that be like? What attitude would you have towards your job? Your boss? Your co-workers? Your choices? How much stress would you NOT be carrying? What work or expenses could you eliminate if you were not tied to a financial institution? For example, I know a company that is debt-free. When they do their year-end tax returns, they don’t need an $8,000 auditor to complete it because they don’t have to report anything to a loans officer. Just imagine… doing what you want, how you want, in a time frame that suits you, not your banker. FEBRUARY 2022
