The father of a friend of mine passed away. His father was a wonderful guy, but organization was not his thing. My friend was stressed over his death and went into panic mode – sifting through endless stacks of documents. Instead of looking at the documents, he was just mindlessly pitching. I stopped him and pointed out that once discarded, he could never get them back. As it turned out, he was about to throw away his parents’ marriage license, his father’s birth certificate, even his father’s honorable discharge from serving in World War II. His father had been awarded an award for valor in WWII and he had almost thrown the discharge and award papers away!
Stress, whether from a death of a loved one or due to financial pressure, is our enemy . When clients come to see me about financial problems – the norm is for them to bring shoe boxes and grocery bags full of unopened bills and collection letters. Here, the stress is causing the person to bury their head in the sand. Not opening your mail – is a mistake. I always tell clients, unless you know where the shots are being fired from, you will not know where and when to take cover!
Beyond this, I’ve seen clients who, when under stress, have taken their IRAs and 401k funds to pay off bills that should never be paid with retirement funds! It is not possible to list all of the things you should not do when you are burdened with debt but here are a few really important ones to know before you come in to see us:
- Do not get rid of bills
- Do not pay off debt.
- Do not incur new debt.
- Do not do anything to “make it better”
- Do not pay off the loan to mom, dad or any other relative.
Unfortunately, there was nothing I could do to prevent my friend from losing his father and the stress of such a loss. Financial problems are not the same. There are solutions – and every day, we flip the switch from darkness to sunshine, by eliminating the stress that goes hand in hand with debt, and replacing it with a fresh start – so the sun can shine. If you are burdened by debt, come see us – and let the age of Aquarius begin.
Enjoy the weekend.
Did you know that THAV GROSS offers free consultations for business, financial, and tax problems? Call us anytime – (248) 645 – 1700 or CLICK HERE to send us a message.