If you need help to set a plan in place for your money contact - TMR Coaching We can help you put a plan in place that will work with your lifestyle and budget for a Life Coaching - Consultation Get a copy of our Newsletter and start learning how you can better manage your Time, Money, and Relationships. Michael Young is a practicing counselor and coach. He lives in Florida with his wife, Mary Beth and daughter, Sydney. He has a bachelors degree in Biblical Studies, and a masters degree in Education from Columbia International University. He is currently working on a Doctorate in Biblical Counseling. Michael has developed several software programs for counselors and coaches and written articles and books on the subject.
Who Wants to be Rich?
Admit it, you watched and dreamed of getting the Lottery. You chase the American dream and buy into the Madison Avenue propaganda. The advertising industry wants to place you in slavery. Sadly, so many Americans do just that. Spend now, pay later and pay, pay, pay. Now you can show your kids a way that they can be wealthy.
Lets do some math... Ben invests $2000 dollars every year starting at age 19 and after he turns 27 he doesnt add any more money to that savings account. Arthur doesnt saving any money until he is age 27 and then saves $2000 dollars each year until he is age 65. Who has the most wealth at age 65?
At age 65 Arthur has a return on investment. He has grown his money to $1,532,166. Hes now a millionaire after scratching and saving $2000 dollars a year for 38 years. What happened with Ben? 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. Don't miss this! Ben accumulates more wealth because he started investing sooner and let the magic of compound interest do the rest. Imagine what he would have if he would have continued to add the $2000 a year!
The terrible truth... 19% of Citizen between the ages of 18-24 declared bankruptcy in 2001 - USA Today, 2001 The fastest growing group of bankruptcy filers are college age adults who are 25 years of age or younger - Senate Committee on Banking, Housing and Urban Affairs, 2002 Nearly half of college-age adults (49%) said they feel they are more likely to become wealthy by starring in a reality TV series than by learning how to budget and save wisely (36%) -Visa USA, 2003
The Bible has much to say about money. Jesus said, Ones life does not consist in the accumulation of material things (Luke 12:15) and Paul modeled, I have learned to be at peace whatever the situation (Phil. 4:11) Train your kids to save early and dont touch the savings. You can learn how to change your financial story and ensure your kids live a life of prosperity.
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