Why So Many People Fail Financially

Sandy Botkin
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There are lots of reasons why so many people fail financially:

1. People living longer: This increases the chance of having disabling health problems, either physical or mental,
2. Huge amount of information that people must process today,
3. Failing to plan for inflation,
4. Lack of understanding of compound interest,
5. Failing to adequately diversify,
6. Failing to plan for retirement,
7. Failing to save for large future expenses,
8. Failing to create both long and short-term financial goals,
9. Failing to plan for divorce and multiple families,
10. Procrastination in confronting reality,
11. Disability,
12. Premature death,
13. Law suits and failing to plan for asset protection,
14. Failing to plan for estate taxes and probate,
15. Overspending and unwise use of credit,
16. Failing to reduce their income taxes to legal minimum,
17. Not using common sense and getting scammed.

All of these will be discussed in more detail in future posts. A more thorough discussion about all of these can be found in my latest book, “Achieve Financial Freedom: Big Time” that can be purchased on my web site at “www.book.taxbot.com.”

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