Time Is Money
There are some people who drive across town to save 2 cents on gas. That’s $.02 per gallon. If you had a 20 gallon tank, you would save $.40 per fill-up. If it took you $60 to fill your tank, you will save less than 1% on your purchase.
Now extrapolate this to how many times you fill up and how long it takes to drive across town. Also consider the costs associated with driving there. Your time just driving would be significant. If it took you five extra minutes to get there and then five minutes to get back to fill up once per week, over the course of a year it would have taken you 8.6 hours to save—- $20.80. Let’s pause for effect :).
Now imagine the time wasted to save less than 1%. Driving across town, wear and tear on your car, the cost of gas to get you across town. It’ amazing.
What’s even more amazing is the idea that people don’t consider the cost of their investments. This is where saving 1% could be substantial. Repeat. Saving 1% on your investment costs would be a considerable amount. If you have a $100,000 account, you would save $1,000 per year. Think about it for a minute. Think about what you would save, or in this case keep in your account. All things being equal, your account will grow quicker as a result of lower costs.
Do you know how long it will take us to determine what you can save? It would take us 30 minutes. Imagine spending 30 minutes of your precious time to save $1000 per year. If $1,000 is not enough to get you to consider, think about your account when it’s at $200,000. That savings would now be $2000 per year.
Help me help you keep more of what you earn. This conversation would take no more than 30 mins.