Control vs. Ownership

Do you want to own an extra 15 or 20 pounds?

You know the average male takes ownership of an extra pound each year of his life after the age of 18.[i] Is that lucky or simply disgusting?

On a different theme however most would agree that owning an extra $10,000 a year after the age of 18 would be grand! But that’s not what most Americans do… most amass less than $50 thousand in a 401K or IRA by the age of 40.[ii]

Well recently I got tired of owning the extra 15 pounds which I had taken ownership of since high school days. Funny thing though, even at six foot two and 185 pounds I was underwritten for over $3 million worth of Preferred Plus whole life insurance from a major life insurance company with that extra weight. But let me tell you something. I weighed what I weighed in high school at the age of 40. And here I was about to turn 51 and those extra 15 pounds which I’d taken ownership of in the last 11 years were not making me any more pleasant, productive, or profitable.

But what does all this have to do with finances?

That’s simple. Dietarily I knew what I needed to do. I’d never been a fast food junkie and I stay away from the trash and processed food stuffs which is sold today as food. I’ve consistently consumed organic whole fruits and vegetables, pasture raised beef, hormone free poultry products and wild fish. So I was in control of the type of foods I was eating but what I was not in control of was the amounts of those foods I was eating.

Thus, I wasn’t like many people today, I was actually eating good stuff...just too much good stuff. Most people don’t lack the knowledge of how to spend money it’s simply that they don’t have the proper knowledge of what to spend their money on so that they can spend it again and again without having to work for it a second, third, fourth time, etc….!

Diet-wise it was time for me to go back to the food chart and see where the extra calories were coming from. This is often where others need to start on their journey towards wealth as well. Finding out where you’re spending money on so you can learn to control how you spend your money is vital to wealth building. You can’t just stop spending money any more than you just stop eating. That simply isn’t healthy. And besides hording money doesn’t create real wealth any more than starving yourself produces health!

In order to create wealth you’ve got to spend money. But prioritizing what you spend your money on is critical just like prioritizing what you eat is critical in the control of your weight. Understanding this simple concept is paramount if you want to become more profitable, productive and pleasant fiscally.

You know, once I saw my eating pattern I knew what to do. Within a week my family and friends were noticing a difference and so was I. Those extra 15 pounds are now pounds that I control instead of owning and I’m enjoying the way I’ve become more productive, pleasant, and profitable.

This happens all the time with clients. Once they know what’s happening to their money they know what to do with it. Helping you understand what is happening to your money then is the best thing I can do for you because then you’ll be free to become more productive, pleasant, and profitable financially.

Funny thing is that most people are typically more interested in owning more money than controlling more money. But owning more money isn’t as beneficial as controlling the money you already have. This is because money and wealth are not synonymous. Howard Hughes owned billions of dollars but was a recluse, unable to enjoy the wealth which his money could have created in his life. And of course you’ve all heard the sad tales of lottery winners.

Regrettably, good financial habits, just like good eating habits, are not developed the way most people think they are. Remember I was underwritten for a Preferred Plus Whole Life Insurance Policy with over $3 million of face value owning an 15 extra pounds...so much for conventional wisdom, right?

The same is true in your financial world. All your investments, bonds, CD’s, mutual funds, real estate, 401k’s and IRA’s which conventional methods tell you to own? They are not providing you with the control you need to benefit the most financially! Somebody else controls these so called assets. And those who control them benefit the most from them. That is simply the facts.

So where are you? Do you control or just own your money? Are your assets benefiting you more right now or someone else? Are you profiting, producing and becoming more pleasant because of the wealth you are creating? When do you think things will get better? When do you want to take control and enjoy the benefits of your hard work?

by Tomas McFie

[i] Center for Disease Control and Prevention
[ii] Employee Benefits Research Institution, August 2009