In the Popeye the Sailor cartoons (1942-1957) and later in the later 1980 Popeye movie, one of the characters who appeared frequently was Wimpy, also known as J Wellington. He was famous for the phrase, “I’d gladly pay you Tuesday for a hamburger today,” and used it often to fulfill his voracious appetite for hamburgers and get strangers to buy these for him. The phrase has come to mean that doing work for someone at a cut rate or pro bono today is not guarantee that you will get work from them later (we never saw Wimpy pay anyone back).
This practice is the reverse of what investing can do for you. Rather than borrowing for today (which many do using credit cards), the idea is to put away money today so you will have what you need “next Tuesday.” Careful planning and investing today creates wealth tomorrow. Living in frugal times encourages one not to spend anything you do not have to, but like lavish spending not saving is likely to be a mistake too.
We all want to attend events, participate in activities, and retire at some point in the future. We are able make that possible with a financial plan. Engaging the skills of a Certified Financial Planner (CFP) can help with that planning and setting up security for your life and that of your family.
Give Les Merritt, CFP and CPA, a call today at (919) 269-8553 to make an appointment to start your planning. When hunger calls, don’t depend on the kindness of a stranger, be able to pay for what you want whether it’s a hamburger or second honeymoon.