Episode 6 - Tim Heisterkamp on how to have healthy WEALTH habits, and how money can compound and grow in YOUR FAVOR

Tim Heisterkamp, certified financial planner, talks about wealth management, and how the habits of saving money and preserving wealth are generally the same amongst those who ave been successful.  He drops useful foundational knowledge such as; money isn't evil, the love of money is.  Money is AMORAL, meaning it itself has no moral value until it takes on the morality of its user.  It is up to you what character money takes on.  

Surprising to me, he mentions how the #1 motivating factor to create healthy wealth habits is FEAR, based on self-preservation and survival, which makes people live within their means vs overextend themselves with money they don't have.  WISDOM, and understanding the money habits that creates exponential growth is the second most motivating factor in his experience, once you know, you can't unknow true knowledge.  After that, it's up to you to apply it.  That is when knowledge becomes wisdom. 

Principles mentioned include:
-Save 10% of what you make 
-Delay instant gratification - don't go in debt to buy too many expensive things
-Understand the exponential compounding growth of money via interest, and how much more interest can work for you when you start saving as soon as you can. 
-Understand different retirement accounts and how more than one can help you, such as "tax deferred" accounts vs "after tax" accounts (Tim calls them "tax never accounts" because they aren't taxed upon withdrawal like tax deferred accounts are).
-AUTOMATE your savings.
-JUST START, don't despise meager beginnings, start with $25/month if you can. 
-LOTS MORE.

Tune and turn it up!