The Top 10 Common Sense Financial Decisions I Don’t Regret

Top 10 I Don't Regret

I recently read an article about 10 financial decisions you will regret forever.  If you have a minute, follow the link. It’s worth a quick read.  It makes some good points.  As I read the article it seemed to me that it focused on the negative; the glass “half-empty”, which we all do from time to time.

I started thinking about my past financial decisions from a positive perspective, with a nod to Norman Vincent Peale’s book, The Power of Positive Thinking, to which I give a lot of credit for shaping how I choose to see things.

So, here are the top 10 common sense financial decisions that I don’t regret making in my personal life; in no particular order, by the way, except for number one:

10.  Having a financial advisor, CPA and insurance agent whom I consider not only friends, but trusted professionals guiding me in their specialized areas.  The financial benefit I’ve received from them over the years far outweighs their professional fees. More insight….

9.   Staying committed to a balanced investment portfolio even during the ups and downs of the economy, stock market and world events.  Over thirty years of investing results has taught me to stay invested and committed to my portfolio plan.

8.  Purchasing Long Term Health Care Insurance when my wife and I hit the sweet spot age of almost sixty.  If you aren’t in that age range yet, just file this away.  But don’t delete that file.

7.  Improving almost every financial decision by a minimum of 5%.  If you follow me at all, you know I call this The 5% Rule. Before committing to a financial decision, I have paused and asked myself if I should do it or not. If I did commit, then how could I have improved it by at least 5%?  A percentage point gained here and there has had a significant impact on my financial results.

6.  Opting to remodel our previous home instead of purchasing new and choosing to pay cash for gently used or almost new vehicles.

5.  Living a debt-free life. Keeping a home mortgage to fifteen years or less and always treating a credit card like a debit card, paying it off every month.

4.  Empowering our kids to manage their own college funds.  Yes, we gave our children full responsibility and control over their college funds.  However to be clear, prior to transferring full responsibility much effort was devoted to teaching them the basic financial controls.

3.  Recognizing and rejecting the typical Jonesitis lifestyle.  Focusing on what is right for my family has always yielded a better financial result than what the Jonesitis culture portrays.

2.  Deciding to run our life like a business.  Our “family business” has been strengthened by having brief weekly and monthly Team Pinkerton meetings to review and discuss our Quicken generated budget to actual results among other items. Read more……

Drum roll, please……………..and Number 1:

1.  Continuing to understand a very simple concept…  I don’t own anything.  God owns it all.  My job is to manage what I’ve been given to generate uncommon wealth to yield an uncommon life for a higher purpose. Psalm 24:1.

Do you have any financial decisions you regret making?  You know you can’t do anything about the past, except to maybe learn from it and then move forward.

But, guess what?  You can start right now taking positive financial actions that will quickly put you on a wealth building path to live your uncommon dreams.

 You just have to start. Start now.
Read more Wealth Builder 10 Steps…

If I can help you on your journey don’t hesitate to reach out to me.  And as always, if you think this information might help someone, please forward it, or better yet, sign them up to receive my weekly blog.