Stupid Tax #31 - Embrace Poverty Now! The Smartest Financial Decision You'll Ever Make
Mitchell and Scott are back after a summer break! In June Mitchell posed a question on Twitter/X: "What's the smartest financial decision you ever made?" Mitchell and Scott read through the comments and offer their commentary. The replies range from the typical -- buying a house chealy at low mortgage rates, paying off the mortgage, investing in crypto -- to heavily lifestyle-influenced decisions such as marrying well or having a family.
Scott's take on the question? Embrace thrift. Realize that every dollar you earn beyond what you need to live on is time and energy that can be stored for later... or squandered. One common refrain in the comments of Mitchell's post was fortuitous timing, which is mostly out of our control. In fact, many of the things which we might consider financial decisions are out of our hands, or at least have a lot of variables outside our control, so stewardship of our resources is one of the most, if not the most, important financial decisions we'll ever make.
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Mitchell Baldridge
Twitter: @baldridgecpa
https://baldridgefinancial.com
Scott Hambrick
Twitter: @hambrickscott
IG: @ogscotthambrick