near financial blunder & a true prosperity secret...

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Subject: near financial blunder & a true prosperity secret...

Happy Marvelous, Magnificent Monday Friend!

So yesterday I was I was one click away from ordering a Tesla model Y for $59,000 buckaroos. I've wanted a Tesla for so long and it feels like I've been waiting forever. When the cybertruck got announced in November of 2019, I put a deposit down and began to wait patiently.

So we're in 2023 and I've been waiting four years for this truck, and it's FINALLY supposed to start production in June of this year. Problem is, there are over a million and a half orders and I think I'm like 270,000 ish in line.

So I started to think to myself "aaaaah! I do not wanna wait another year to get this Tesla. I really, really, really one and I have the money to buy one right now.

So Friday, I said to my wife Corene, "Hey, maybe we'll just get this model Y and, and it'll be great. And then we'll get the cyber truck too."

Surprisingly, my wife seemed to be ok with the idea so I pulled up the website and spent the last two days thinking about all the options.

Yesterday, I had all the right options selected, I was on the order screen, and all I had to do was click a button and that Tesla would be on it's way to my hot little hands.

But then, I started thinking about all of the great financial literacy lessons I'd been taught by great mentors over the years.

One of them is the concept of "instant gratification" versus "delayed gratification."

I said to myself - "Self, if I bought this Tesla right now, really it would literally just be because I want to be instantly gratified rather than waiting just a little bit longer.

Self, that's not the philosophy that got you to where you are today."

I began to consider this purchase from a financial standpoint and asked myself,

"would this purchase move our net worth forward or move our net worth backwards?"

I realized that, from a financial standpoint, It wouldn't have been a good choice because if I buy this Tesla, it will depreciate.

So even though I think they have good depreciation rates (personally I think Tesla is the new "honda" as far as vehicles holding values go) but it'll go down.

So I'll lose money there. I'll also have to pay sales tax, which would be almost $10,000 in this case. So if I sell the Tesla at the end of the year, and bought the CyberTruck, my net worth would be a guaranteed negative of at least $10,000.

So I'm like, it really is not a good financial choice.

And the other thing about it is, I remember reading a story about Robert Kiyosaki where he said, if I wanna buy a sports car, I don't go buy the sports car. I take the money that I was going to use to buy the sports car, and I buy an income producing asset, and then the income producing asset buys the sports car.

So I'm like, if I take this big chunk of money and just buy a car with it, that wouldn't be following that advice either.

We have a piece of land that's undeveloped that I've been thinking about putting a duplex or a fourplex on for quite some time but right now, it's just sitting there.

From what I can see, it seems that odds are high we may be entering a recession.

I heard Elon Musk say that he thinks it'll probably be like a 2009 style recession.

I posted this image in our Financial Literacy Academy coaching group the other day...

This seems to indicated that here in America, we've we've already seen a massive drop in home sales.

According to the image, this is the LARGEST drop in home sales in the history of America.

It's actually lower and sharper than it was in 2009.

To me, this means there is a good chance that over the next year and a half, housing prices will fall dramatically, which means there will be a lot of really great deals.

The building costs may be a lot lower than they have been.

This spells opportunity.

Sooooooooo, having the largest number of cash, liquid dollars at my disposal going into this period seems like it would be a wiser move than buying a Tesla to satisfy my hungry appetite for one.

Now of course, not all of our decisions have to be made on the basis of their financial impact.

There's a great case to be made for spending money that will bring you joy and happiness.

And I'm still planning on buying the Cybertruck which will be a great example of this.

Point is though, if you can have BOTH. If you can make the best financial decision AND do things that bring you happiness and joy, generally speaking this seems to be a better way to go.

I will say however, that if you're in the beginning stages of building a life of freedom, satisfying your current appetite should probably take much more of a back seat to making the decisions that will secure your financial future.

"Live like no one else now, so you can live like no one else later." is a great mantra I picked up from Dave Ramsey way back in the day.

Or stated another way "having the ability to delay your gratification into the future, vs having to have it satisfied right now" is a great habit to continue developing.

Hope this message added some value to your life today Friend and I thank you for reading and being subscribed to my email list.

All the best!

Paul

PS - I've recently heard a couple friends say that all personal development lessons have their roots in the Bible so I started a study to find out for myself if this is true. I've been making some daily short videos sharing what I'm finding that I'm personally, thoroughly enjoying.

Today's video is about the first 2 divine laws of success that seem to be revealed in the very first words God ever said to mankind, per the Bible story. You can watch it here if you want because it's pretty powerful and it's only 50 seconds.

PPS: If you appreciate my content, and want to be closer connected to me so you can potentially, learn how to build a life of freedom a little faster, I'd love to invite you to take a look at our community here, and if you like what you see, click the orange button below the video to learn about the unique and revolutionary residual income model we've created. To me, it's truly an opportunity of a lifetime.

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Subject: near financial blunder & a true prosperity secret...