All of us at some point in our lives have presented ourselves to be something we were not (at least once). Don’t believe me? Remember that first date with the guy or young lady you were convinced was Mr. or Mrs. Right? You might have laughed extra hard at a not so funny joke or wore a piece of clothing to show off your muscles or curves.
Men and women wear body shapers which provide a quick and instantaneous fix to make clothing fit better. A shift of body mass here or there can make all the difference in the world. Not too long ago I had to expand the waist on all my suit pants. I guess I took the easy way out since I don’t like anything that fits tight. I can promise you will never see Al Riddick wearing skinny jeans.
When your personal finances are wearing a body shaper, it’s easy to hide a multitude of things. For example, spouses can hide expenses from each other. You can hide the lack of an emergency fund since credit cards provide the shift you’re looking for. You can also create the perception that your finances are in good shape by focusing more on a monthly payment when financing a purchase versus total cost of ownership. What lender wouldn’t want you to take longer to repay borrowed funds (an expense for you is revenue for someone else). If you retire and then discover your yearly withdrawal rate is eating away too much of your wealth too fast, you may have to re-enter the workforce under the pretense of “I got bored sitting at home.” When thinking about early retirement, if all your money is in your employers 401K, where is the magical money coming from that will support you before age 59.5 (retirement age to avoid the 10% penalty tax)?
If you’re tired of wearing financial body shapers, it’s time to get naked! LOL! Facing your financial truth will be a challenging process that will be one of the most rewarding experiences of your life. If you don’t believe me, try it on for size. You might have to squeeze slowly into your new lifestyle but once you have the complete outfit on, it feels like you’re wearing nothing.