Health & Fitness
Slow Capital?
Financial Independence! Is it gained quickly or at a slow and steady pace?
Ever heard of “Slow Capital?"
Definitely not a new idea? Remember the story of the “Tortoise and the Hare?” The moral is “slow and steady wins the race!”
Recently I heard of this Slow Movement. It is a campaign promoting that people should: “chill out, ease up and enjoy life a bit more”.
Our lifestyles today are definitely more hectic and harried than ever. Slow Movement has crossed cultural lines with spin-offs like Slow Cities, Slow Living, Slow Travel, Slow Design – and yes, even Slow Capital.
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Slow Capital? Do I want my money to grow slow? We are all living in the “more, more, more world” and we want it now! Just like the movie “Fast and Furious” we want it now, right? Great idea! Now that I think about it, not really.
The basis of Slow Capital is similar to that trusty old tortoise, “slow and steady wins the race”. It’s the opposite of get rich quick, it’s get rich smart!
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In today’s “I want it now” world, we find ourselves buried in debt due to impulse spending. Even Investors have lost huge amounts of money by chasing the next big thing.
Creating long-term goals is more crucial and important to our safety and security that ever before. Socking money away in a 401(k) or (IRA) may not give you that feeling of excitement. But 30 years of compound interest will sure make retirement much more fun and less painful. Putting $25 a week automatically transferred into your savings account might not make you jump up and kick your heels, but the $6,500 you’ll have in 5 years just might!
Growing your money slowly will not give you the heart-pounding rush you can get from making a quick buck. But this lets you think less about how to make more money now, now, now, and instead gives you freedom and to concentrate on the things that really matter: family, friends and the ability to pursue your own unique brand of happiness!
How about you? Are you like the hare, willing to take that big risk for a big payoff, or the tortoise, willing to forgo the risky opportunity to make a killing and opt for the security of knowing you’ll never get killed?
Slow and Steady is the way that you can also build your credit. Credit Scores are determined in part by the length of time you have had a credit line and how consistently you pay time. Consistency and staying below your credit limits (don’t max them out!) will keep your scores up.
Looking to BUY or REFINANCE a home? Credit and Savings (funds in reserve) are two of the main factors Lenders use in determining your Approval or Denial for the Loan.
Interest Rates are lower than they have been in 30 years. NOW is the time to BUY. Equally as important, NOW is the time to REFINANCE and put these savings away each month and watch your nest egg grow. Slow and Steady wins the race!
Call me today to see what I can do for you.
Steven Goldman