STRAPPED
THE BUCK STARTS HERE
Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest.
In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.
WHAT WILL WE SAVE FOR?
- EMERGENCIES
- PURCHASES
- FUTURE
PRIORITIZE YOUR DOLLARS
- TITHE
- EXPENSES
- EMERGENCY FUND
- DEBT
- INVEST
TWO WAYS TO MAKE MONEY
- PEOPLE MAKING MONEY.
…If a man will not work, he shall not eat.
- MONEY MAKING MONEY.
The man who had received the five talents went at once and put his money to work and gained five more.
RULES OF INVESTING
- DON’T INVEST IN THINGS YOU DON’T UNDERSTAND.
By wisdom a house is built, and through understanding it is established; through knowledge its rooms are filled with rare and beautiful treasures.
- DON’T PUT ALL YOUR EGGS IN ONE BASKET.
Give portions to seven, yes to eight, for you do not know what disaster may come upon the land.
- DON’T TRY TO GET RICH QUICK.
People who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge men into ruin and destruction.
…he who gathers money little by little makes it grow.
- Money + Time + Consistency = Wealth.
$5 a day invested at 12% over time:
5 years $12,250
10 years $34,505
20 years $148,388
30 years $524,244
40 years $1,764,716
50 years $5,858,750
If a 30-year-old makes $48,000 a year and saves 15% ($600 a month) in a 401(k) at 12%, by the age 70, they will have $7,058,863 in their 401(k).
TALK IT OVER
- What’s your vision for your financial life?
- How are you investing for the future? What steps might you need to take to improve the way you invest?
- Whose life do you need to invest in? What steps will you take to invest in them?