How many of you have taken the time to figure out how much you’re going to need to retire? Chances are you have not. If you don’t figure out what you’re going to need, you won’t know if you’ll have enough. You want to be proactive in providing for yourself. Most people don’t. Most people end-up on social security and working part-time.
There are rich and poor people who are generous with what they have. They think nothing of sharing what they have even with those who have more than they do. Then, there are other people who cling to their money and possessions. They are afraid to share what they have because if they do, they worry they won’t have enough.
Some of you might think that it is not right to have money or even that money is evil. People who don’t know scripture often misquote 1 Timothy 6:10. Have you heard that money is root of evil? I’m sure you have.
If you’ll recall, we learned that there are four things we can do with money. We’ve covered a bit on savings. Now, let’s talk about spending wisely.
If you start investing when you’re young, your money has more time to grow. Heck, is you’re 20 years old and you invest $167 a month, roughly $2,000 a year, at 6% for 45 years, by the time you’re 65 you will have $460,251.
If you were to wait and started investing the $167 a month seven years later, at 6% a
There’s a great thing that you might be unaware of and that is compound interest.
Previously, we touched on the importance of having an Emergency Fund. Now,let’s delve deeper into it.
Before we start trying to get of debt, we must first, establish our foundation. We need to make God our foundation. Matthew 7:24-27 tells us to build our house on the rock. The rock is God. When we have Him as our foundation, we can withstand storms. In our case, a solid foundation about money will help us weather financial storms.
