As your personal business consultant, Al Rasch & Associates knows from experience working with households of modest income that wealth is grown primarily through:

• Living within their means

• Systematically saving and investing in programs that are favorable to their tax situation

• Buying and selling equities through well managed estate preservation strategies

• Building a small business into a bigger business

• Investing in carefully selected properties

• A carefully balanced plan of insurance coverage


By living within your means, we mean establishing a household budget that realistically recognizes your annual income and provides for living and savings programs that fit within this figure.

A good way to approach this is to start with your monthly income, subtract out that amount you plan on saving each month (in other words, “pay” yourself first), and then allocate for each category of expense.

When budgeting – always leave a healthy pad for the “unplanned” category. This would include such items as emergency home and auto repairs, insurance deductibles and co-pays, and the occasional sale that you can’t pass up.

Look at previous bills in order to establish anticipated future expenses. In some cases, the “game” then becomes to find ways to reduce those monthly expenses in order to create a larger “savings pad.”

A systematic savings plan is actually part of “living within your means.” By first deducting your planned savings and putting the amount into a savings account – you are making a “payment” to yourself… your most important “creditor.” This is actually the most valuable “payment” you will make.