Interesting article about dieting that resonates with me as I think about the Elephant’s Paycheck and helping people build wealth. You can totally understand the article by reading the first and last sentences:
Wondering what diet works best for weight loss? Just pick one and get on with it, says University of Massachusetts Medical School researcher Sherry Pagoto.
“The million-dollar question is, ‘How do you get people to stick to a plan that helps them lose weight?’ ” she said.
I think the same advice could be said for building wealth (saving for retirement).
Doesn’t matter what “system you use” just start doing it!
And, the key question is less about the “system” than it is about “getting people to stick with the system” they’ve chosen.
Personally, that’s one of the things I like about the Elephant’s Paycheck Blueprint. As an “investing blueprint” it focuses on safety and fun as a way to motivate people to stick with the plan. At the end of the day, it’s that motivation that makes the difference.
For example, one of the things the blueprint focuses on is measuring pay raises. Who doesn’t like pay raises? Imagine getting a pay raise every month, and two some months? Simple, safe & effective, all while using fun as a way to motivate you to stick with the program regardless of whether the market is going up or down. Look at the chart at the top of the post, notice how the red line goes up and to the right, regardless of what the market is doing at that particular moment in time.