by Philip Humbert

My observation is that people tend to live their lives in one of three time zones, the "past", the "present" or (rarely) in the "future."

Living in the past, either glorifying the "good old days" or replaying some terrible past event over and over again clearly limits us and doesn't work very well. Fortunately, not too many people do this.

Most of us tend to focus on the present, and that's both good and bad. Years ago, Ram Das made his famous recommendation to "be here now." We are often reminded that the present is the only moment over which we have control, the only time in which we can take positive action. We cannot change the past, and while we can influence the future, obviously we cannot control it. Living in the present and making every moment count makes sense and I highly recommend it. Carpe Diem-"seize the day!"

At the same time, however, it's critical to notice that too many of us live ONLY for today. We keep our lives so full and so busy that getting through the day is about all we can manage. Some live for "experiences" and become addicted to drama and excitement, or to simply being "busy" all the time.

As consumers, some of us over-spend and fail to save. We are urged to "fly now, pay later" and while that can be fun in the short-term, it is a tragically narrow focus that distracts us from creating the future we want.

In preparing for my fall series of teleclasses, "The Road to Riches," I've been reviewing some really frightening statistics.

The average American saves less than two percent of their income. In 2001, while the average homeowner had a median net worth of over $171,000, the average renter had a net worth of less than $5,000. Yes, renters tend to be younger, but that's an astounding difference! According to the Employee Benefit Research Institute, less than a quarter of Americans use a 401(k) and less than 15% have an IRA!

According to cardweb.com, the average American family has seven credit cards and owes about $9,000. That's incredible, and frightening.

One of the great predictors of future success is the ability to delay gratification.

Successful students study now to pass the test at the end of the quarter. Successful entrepreneurs work long hours today to enjoy the fruits of a successful business for the rest of their lives.

Creating wealth is largely the ability to live (and act) in the present while keeping one eye focused on the future.

Sure, winning the lottery or inheriting a fortune is always a "possibility" but the surest way to create wealth, retire comfortably and leave a legacy is to delay gratification, live below your means, invest for the future and reap the rewards of compound interest.

The winners in life have always known how to live full-out in the present, while also planning (and acting) for their future. They know how to enjoy the moment, while resisting the temptation to act impulsively. They know how to plan, and how to implement the plan day by day. They know the future is "where it's at." They know the future will not take care of itself unless they plant the seeds and prepare in advance.

Save for your future. Live within your means. Use credit wisely. Use tax-advantaged savings and retirement plans to create the future you want. Buy your own home. Put the miracle of compound interest to work FOR you, rather than having it work against you.

Copyright(c) 2005, all rights reserved. Dr. Philip E. Humbert, professional coach, author and popular speaker . He has an excellent weekly newsletter and I encourage you to subscribe at: http://www.philiphumbert.com.

What is one modification you can and will make this week to live full-out in the present while also planning for the future?

August 18, 2005
Being Resourceful at Marriott Hotels of
Boston & Cambridge's Summer Speaker Series

The Marriott Hotels of Boston & Cambridge have invited their valued customers to participate in their Summer Speaker Series over lunch. Coach Andrea will deliver her program, "Being Resourceful: Using What You Have to Get to Where You Want to Be!"

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