Rich Rhodes here, your tax professional.
I know that we haven’t posted much before, but starting this week I’m hoping that you and I can have a conversation.
You see, there hasn’t been an environment like the one we’re now facing in this economy and in our nation for quite a while. The fact is-I know you’ve got questions…about personal financial strategy, about tax specifics and about how to steer your way through these times we’re living in.
Not Just “Tax Tips”…
I won’t pretend to have ALL the answers, but I’m going to do my best to give you information from the “real world”. Yes, there’s a lot of so-called “experts” out there (theorists, authors, or multi-millionaire “gurus”) who make it their job to spout opinion.
But more often than not, they don’t know what it’s like to face the things that you and I face-right here.
I also want to give YOU the chance to contact my staff and me about questions you’ve been having. I’ve found over the years that people generally want more (not less) from their tax professional in terms of communication and relationship. So you’ll be hearing from us more.
starting this week, we’ll be making a major effort to keep in touch with you on a weekly basis-offering “Real World” Personal Strategy (not just pie-in-the-sky theory) and guidance for growing wealth, keeping sane in this world, and all-around personal development.
And it will NOT be just tax tips (it’s our job to take care of all that for you anyway). Sure, there will be tax items you’ll need to know about-which we’ll send your way-but I believe you’ll find these notes to be interesting and useful on a variety of levels.
So let’s get started, shall we?
Rich Rhodes’ “Real World” Personal Strategy
True Wealth / Getting To Know You
In the coming weeks, we’ll discuss both general concepts and specific strategies…but now, in this first week, here’s a good start (plus a question for you):
Thought: Learning to be content in all circumstances is the foundation for generating real wealth, especially in this economy.
Why do I say this? Well, it’s my job to help people “ride out the storms” in their financial life. And I’ve noticed a very real difference between those that handle it well…and those that, well, don’t.
See, relative to their income, the rich are frugal. They save and invest. They spend less than 65% of their take-home pay on day-to-day expenses. They save at least 10% in their retirement accounts and another 5% in taxable savings. They direct another 10% toward unknown big purchases. And they even live frugally enough to give another generous 10% to charities.
Now-remember when I said this would be “real world”? The fact is, I know that you may not be even close to this, and you could even be feeling guilty right about now. That’s the LAST thing I want to do to you, but here’s what you CAN do right now:
Set it as your personal goal to increase (or start) your household money moving in these directions: 1) savings 2) retirement 3) short-term (big purchase like a car or furniture) savings and 4) giving. This week, choose ONE of these categories and move money there, however small the amount. Then, when you do so-let somebody know you did it. Not to brag, but to settle it into your mind.
You’ll find that taking a positive direction in one of these areas-even if it’s just a measly 5 bucks-will go a long way to increase your peace of mind.
And with THAT peace of mind, you’ll handle the upcoming storms real well.
That’s the Real World, my friend.
And finally, my Question: How could my staff and I serve you better? Would you take a moment right now, to reply to this email with one of two things for me?
A) Let us know what kind of service you’d like to see us provide for you and your family in the future, which we are not currently providing you.
B) Would you write me a quick note about how well we’ve already served you? Lots of people like you are looking for a good tax professional-and we’ve found that what people really want to know is what other people say about us, not what we say about ourselves. Your note would really help!
Thanks! To your success,