Fall – Post 481

Fall is my favorite time of year. I find the explosion of color that comes with the season to be so inspiring and serene at the same time. On a personal level, deep in my soul it validates my belief in God. It is the most beautiful time of year.   kaleidoscopic

I came across this poem and just had to share it with you.

“I love fall! Fall is exciting.
It’s apples and cider.
It’s an airborne spider.
It’s pumpkins in bins.
It’s burrs on dog’s chins.
It’s wind blowing leaves.
It’s chilly red knees.
It’s nuts on the ground.
It’s a crisp dry sound.
It’s green leaves turning
And the smell of them burning.
It’s clouds in the sky.
It’s fall. That’s why…
I love fall.”
–   Author Unknown

 

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Failure is HARD! – Post 474

Today’s quote comes from Theodore Roosevelt.

“It is hard to fail, but it is worse never to have tried in the first place.” Theodore Roosevelt.

Failing is very difficult. It is psychologically painful. It’s something none of us like to face. I want you to think about Pete Rose. He was one of the greatest baseball players when I was a kid. He won 3 World Series rings, 3 batting titles, one Most Valuable Player, Two Gold Gloves and the Rookie of the year. Not only that, he made 17 All-Star appearances at 5 different positions. He is the all-time Major-League leader in hits with 4256 hits.

Did Pete have any failures? Yes. He struck out 10,328 times. That means approx. 6 out of 10 at bats he failed. Had Pete never tried he would have never had that success. Yes failure is hard but it is much better to at least try because eventually success will come your way.

As the late Jim Rohn always said, “REMEMBER THE SAME WIND BLOWS ON ALL OF US. ITS THE SET OF YOUR SAIL THAT DECIDES YOUR COURSE!!” Set your sail for success today by learning the skills for success. If you would like to learn more about the course I am taking in my life be sure to visit AIMHighForSuccess.com . If you find value in these posts be sure to subscribe to this blog and share these posts with your team.

You Were Made for Greatness – Post 467

I read an amazing article the other day on the cost of child care. It said that the cost of child care averages $11,600, or $972 per month. That’s like renting another apartment, or leasing a Maserati, except this payment comes with all the joys of late-night feedings, 10 to 15 different cold infections per year, and the knowledge that there’s no such thing as a cool car with a baby seat in the back.
While the expense of early child care is high, before this ever starts the kid has to be born.

Twenty years ago we spent about $1,000 all-in, meaning prenatal care, sonograms, and the delivery itself.

Today the total package costs around $8,800, and that’s if the parents have health insurance. Without coverage, the cost easily shoots past $25,000.

And all of this is in addition to daily living.

The average rent for a two-bedroom apartment is roughly $1,000 per month, and obviously much more in high-rent, urban settings.

In addition, the average student loan payment is $200, cell phone $100 for two, and house utilities $160. A car note runs $350, with insurance adding another $100. Then there’s health insurance, which for a young family runs about $335 per month after the subsidy.

All in, if they live modestly, the typical young family shells out $2,245 before they eat a thing, pay for gas, or spend any money on entertainment and travel. Adding in the new youngster would kick the basic monthly up to $3,217, not including diapers, formula, pediatric visits, etc.

Median household income is $52,000. With a 15% effective tax rate, the take-home income is $44,200, or $3,683 per month.

That leaves our young family with a whopping $466 to use toward food, entertainment, and any emergency costs.

If the couple is more fortunate and earns $70,000 per year, then with a 15% effective tax rate they bring home $59,500, or $4,958 per month.

This leaves $1,741 in the budget each month to buy food, diapers, clothes, gasoline, and any extras such as a baby crib, high chair cabinet locks, electric outlet covers, and a battery-powered vacuum cleaner for sucking all the nasty stuff out of the baby’s car seat.

I made a lot of assumptions so far, like the couple has only one car payment and one student loan note.

I also left out any mention of saving for the child’s college education, let alone retirement

These considerations would only make the picture worse. On the flip side, there are some tax consequences (such as the $3,000 child care tax credit) that could ease a bit of the pain.

But in a broad sense, the point is clear. A young couple, even a young professional couple earning more than 65% of all U.S. households, will have a difficult time making ends meet when they start a family. That appears to be the main reason why so many young couples have put off having children.

This might be good for the couple’s finances, but it slows down the economy.

Nothing requires spending like having kids. As noted above, there’s all the medical costs and child care issues, but then there’s daily living.

Parents end up buying all sorts of clothes, sports equipment, musical instruments, Halloween costumes, and toys than they ever dreamed possible. And that’s in addition to the extra daily living, entertainment, and vacation costs the family will incur.

While all of this spending puts a strain on mom and dad, it’s the sweet sound of commerce to toy companies, family restaurants, destination vacation companies, and a host of other retailers.

What they all know is that families with young children eventually become families with older children, who will eat more food, wear out more clothes, and in general require more spending right up until they leave home.

It all starts with young couples taking the leap and starting a family. Without it, the economic train never leaves the station, putting a cap on consumer spending for years to come.

It doesn’t have to be like this. I can show you how to earn an extra $2-$3,000 extra per month, without interfering with your current job. I can sow you how to save a few hundred dollars each month on your taxes. I can show you how to build a legacy that your children can enjoy long after you are gone. And I can show you how to be healthier. Just visit http://AIMHighForSuccess.com to learn more.