It is a normal phenomenon to have financial advisors offer guidance on the importance of having your finances in check. This according to them is by having a software that looks after your personal finances, having a credit score, and your age in relation to employment. The most important financial attribute of the three is age since you can always sort out the rest if you are alive. These financial attributes are often more important than a person’s morals, good works, or ethics.
In life, the price and value of an object are always detached from one another. Price is depicted by how much a person ought to part with at a time in exchange for a good or service. Value, on the other hand, is depicted by the subjective assessment of the usefulness of an item according to ezinearticles.com. It is easy to see how price has been detached from the value of an object by observing it selling patterns. When an object is in high demand, retailers tend to set a ridiculous price, but once the demand goes down, the price is dropped. The price/value relationships become even more complicated when the aspect of time is introduced.
An old couple retires, they may sell their assets to purchase an assisted living settlement that will look after them for the rest of their lives. The issue with this is that the current generation may not be able to afford these homes at the current set prices according to stocktwits.com. This means that such old couples may end up getting stuck with their assets. The children who attained adulthood since the year 2000, are at the losing end of the distribution of wealth.
The average Americans who are aged between 30 and 39 years have only half the wealth in 2017 that the same age group had in 2007. This shocking statistic means that the same age group will be poorer 10 to 20 years as of now. They will not be in any position to afford the houses that are taken for granted today. The solution to this is to plan for your future based on value and not price. Just like in the stock markets on thesovereigninvestor.com, it is advisable to convert your current stock holdings into other assets that will hold on to their value before they depreciate.
Ted Bauman spends his life helping people lead a life free from corporate gluttony and legislative lapse. He studied Economics and History at the University of Cape Town, South Africa. While in South Africa, he also worked in a non-profit organization that focused on low-cost housing schemes. He currently lives with his family in Atlanta.
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