Christian Life - Learning to Make Money!
by
Michael Young
Who Wants to be a Billionaire?
Admit it, you watched and dreamed of hitting the Lottery. You chase the
American dream and believe the Madison Avenue lies. The advertising
industry wants to place you in slavery. Sadly, so many Americans do just
that. Buy now, pay later and pay, pay, pay. Now you can show your family
a way that they can be wealthy.
Let’s do a word problem... Ben invests $2000 dollars annually beginning
at age 19 and after he turns 27 he doesn’t save any more money to that
money market. Arthur doesn’t invest any money until he is age 27 and
then invests $2000 dollars every year until he is age 65. Who has the
most wealth at age 65?
At age 65 Arthur has a fat little bank account. He has grown his money
to $1,532,166. He’s now a millionaire after pinching pennies to save
$2000 dollars a year for 38 years. How did Ben do? He quit posting any
money to his account after he turned 27 years old and only saved for 8
years. Ben however at age 65 now has $2,288,996 in his account. That’s
right! Ben accumulates more wealth because he started investing sooner
and let the wisdom of compound interest do the rest. Imagine what he
would have if he would have continued to save the $2000 a year!
The sad statistics... • 19% of Consumers between the ages of 18-24
declared bankruptcy in 2001 - USA Today, 2001 • The quickest growing
group of bankruptcy filers are young adults who are 25 years of age or
younger - Senate Committee on Banking, Housing and Urban Affairs, 2002 •
Nearly 50% of college-age adults (49%) said they believe they are more
likely to become millionaires by starring in a reality TV series than by
learning how to budget and invest wisely (36%) -Visa USA, 2003
The God's Word has much to say about money. Jesus said, “One’s life does
not consist in the accumulation of material things” (Luke 12:15) and
Paul modeled, “I have learned to be happy whatever the circumstances”
(Phil. 4:11) Teach your kids to save early and don’t touch the savings.
You can learn how to fix your financial story and ensure your kids live
a life of prosperity.
About the Author
Michael Young is the Founder and President of TMR Coaching. He has helped others be successful in their business, life, and relationships.
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