Reaching Your Personal Financial Tipping Points

by William P. Meyers

Chapter 1

The Importance of
Your Personal Financial Tipping Points

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If you cannot reach that first point, the other points are impossible. If you won’t do what is necessary to reach the first tipping point, being a millionaire or even retiring with a sufficient income becomes a meaningless dream, like winning a big lottery. No matter how long you work to earn a living. Sure, occasionally someone wins the lottery, or starts a business that becomes wildly profitable, or gets an unexpected and very large inheritance. But while those stories are widely circulated, in reality they are quite rare. Most people who become millionaires who don’t have rich parents do it by reaching the same goals you can reach.

This book is for the rest of us. We are good workers and get what pay we can. Or we work hard at a small business; we have to live with the proceeds of a typical small business. We don’t want to be in the hole all our lives. For us, working is not enough. We need a financial plan that makes sense for people like us.

This book is that plan. It can make anyone who can hold a job (or series of jobs) a millionaire or better. The plan does not require becoming a brilliant entrepreneur, real estate genius, or stock picker. It simply requires setting some simple goals and exercising some discipline to reach them. It also requires time. It happens over years, not overnight. So start as soon as you can.

Before we get an overview of the Personal Financial Tipping Points, allow me to introduce the topic of interest on debt. Everyone knows that if you borrow money the lender usually expects the debt to be paid back with interest. But few people really understand the implications of this. By the time you finish reading this book you will be a lot harder to fool by the lenders of the world.

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Copyright 2008, 2009 by William P. Meyers. All rights reserved.