Answers Christian Life Coaching - Who Wants To Be A Millionaire?

Who Wants To Be A Millionaire?

Admit it, you've seen and dreamed of winning big money. They chase the American dream and buy-in the Madison Avenue hype. The advertising industry wants to keep you in bondage. Unfortunately, tens of thousands of Americans do just that. Spend now and pay and pay, pay, pay. Now you can show your kids a way that might be a Millionaire.

We do a math problem ...

Ben invests $ 2000 dollars a year from 19 years and after he turns 27 years does not add any more money Ben invests $ 2000 dollars a year from 19 years and after he turns 27 years does not add more money to that book savings. Arthur does not invest the money until he is age 27 and then invests $ 2000 dollars every year until he is age 65 years. Who has more money in 65 years?

At 65, Arthur has a nice little nest egg. It 'grew out his money at $ 1532.166000. It is now a millionaire after scratch and save $ 2000 dollars a year for 38 years. How did Ben do? He stopped adding money to your account after you have turned 27 years old and is only saved for 8 years. Ben, however, at the age of 65 years now has $ 2288.996000 about him. That's right! Ben won because he has started saving early and let the magic of compound interest do the rest. Imagine what would happen if he continued to add the $ 2000 a year!

The sad statistics ...

or 19% of Americans between the ages of 18-24 declared bankruptcy in 2001 - USA Today, 2001

o The fastest growing group of bankruptcy filers are those persons who are 25 years of age or younger - Senate Committee on Banking, Housing and Urban Affairs, 2002

or almost half of college-age adults (49%) said they believe that they are more likely to become millionaires by starring in a reality series that by learning how to budget and save wisely (36%)-Visa USA, 2003

The Bible has much to say about money. Jesus said, "your life does not consist in the abundance of possessions" (Luke 12:15) and Paul modeled, "I learned to be content whatever the circumstances" (Phil. 4:11) Teach your children to save early and do not touch the savings. You can learn how to solve your financial situation and ensure your children to live a prosperous life ....