It is important to know when you have enough, otherwise you could very easily find yourself chasing after more and more and more in this world of endless gratification. This idea of enough is not a new one, but many people fail to fully grasp its importance. It was discussed in detail in the book Your Money or Your Life and my first book, Financial Happine$$. The question is, "How many people get it?" When I gaze out into the world, I see millions of people chasing illusions presented to them by people who have a great deal to gain by selling a product or service. Enough is about finding meaning in life that goes far beyond money and stuff!


Identifying when you have enough in your life allows you to stop chasing after more of what you don't need. It really is that simple. You can then pause and reconsider what exactly you want to do with your time, energy and yes, even your money. The man or woman who has enough is profoundly changed. They redirect their life toward other pursuits that brings meaning and fulfillment their way. They get it! Here is the good news: When the individual is "ready" they can stop chasing after more stuff that isn't really that important (and never was) and start identifying those things that are truly important. Financial Happine$$ to follow!


The prudent investor treats almost the entirety of the financial industrial landscape as an urban combat zone. That means any stock broker or full-service brokerage firm, any newsletter, any advisor who purchases individual securities, and any hedge fund. Most Mutual fund companies spew more toxic waste into the investment environment than a third world refinery. Most financial advisors cannot invest their way out of a paper bag. Who can you trust? Almost no one. - William Bernstein, The Investor's Manifesto


It is important to understand the conflicts of interest that flow behind the scenes with "your financial guy." Examples?


This week's recommended book is The Millionaire Next Door, by Thomas Stanley. This wonderful book delves into the lives of the wealthy like no other book ever has. Stanley asks the important questions? What did the wealthy do to "make it"? What do they own and not own? What do they think about now and before when it comes to money and managing it? What do they look like (this may surprise you)? Maybe most importantly, what are their behaviors. Here is one nugget. Most (about 80%) of millionaires are first generation. They earned it. It wasn't given to them. The question then becomes, how did they do it?


There is a perverse relationship with the wealthy in America for many people in our society. Some folks despise the wealthy and yet at the same time, try to be just like them in the way they spend their money. Their is a big problem with that. Most folks don't know what the wealthy have done to get there and they generally end up going down the wrong path trying to be something that has no relationship to wealth. They end up chasing after those who act wealthy (look the part with expensive stuff) instead of those who are truly well off (high net worth). This book will help you understand the difference.

Are you Financially literate?