If you think about working out at a gym people typically will lift a weight a certain amount number of times. That’s reps. At first these reps may seem difficult and clunky and awkward, but as they continue the motion it becomes a natural process because it gets ingrained into the body through muscle memory. Just like lifting weights the key to wealth preservation is to keep doing the successful activities over and over and over and … again until they become natural, automatic and unconscious.
Last week we looked at having a plan for wealth preservation. Doing the plan over and over again. Sticking to the plan and doing the activities that make the plan a success over and over is how repetition can be a very useful technique in preserving wealth.
Children are a pretty good example of how this can work. Many times children will want the next best toy or clothes and they will spend their money to get it. But will they put away a small amount of money for their future. Something in savings that they can really use for a present they always wanted. Most of the time they do not. Creating a habit out of putting some money away is the type of repetition that will result in wealth preservation and not wealth destruction.