Walking Tall

Your savings and investments, believe it or not, affect the way you stand, the way you walk, the tone of your voice - in short, your physical well-being and self-confidence. A person without savings is always running. They must. They must take the first job offered. They sit nervously on life's chairs because any small emergency throws them into the hands of others.

Without savings, a person must be too grateful. Gratitude is fine in its place, but a constant state of gratitude is a horrible place in which to live. A person without savings can walk tall. They may appraise opportunities in a relaxed way, having time for judicious estimates and not be rushed by economic necessity.

A person with savings can afford to resign from their job if their principles so dictate. And for this reason, they will never need to do so. One who can afford to quit is much more useful to his company and therefore, more promotable. They can afford to give their employer the benefit of their most candid judgments.

A person always concerned about necessities such as food and rent can't afford to think in long-range terms.

A person with savings can be free. They can take a level stare into the eyes of anyone...friend, stranger, or enemy. It shapes their personality and character. The ability to save and consume less than you produce has nothing to do with the size of income. Many high-income people who spend it all are on a treadmill.

The Dean of American Bankers, J.P. Morgan, once advised a young broker: "Take waste out of your spending; you'll drive the haste out of your life."

If you don't need money for college, a home, or retirement, then save for confidence. The state of your savings and investments does have a lot to do with how tall you walk.

Original Article - "The Pleasure of Walking Tall" First Federal Savings in the St. Petersburg Times (1963)