I am currently employed with a big private company that offers me a 401 k. I don't have any bills because my parents pay for them, say what you want but that's not why I'm here. I am graduating from college this semester in Business Management with am emphasis in Human Resources. I am being offered at this company a chance to manage some of the HR functions, and eventually replace our existing HR Manager. I am very driven, and determined to never worry about money. I am from a wealthy middle class family, I grew up getting what I wanted most of the time, regardless of price. Of course there were occassions where I didn't; but I want to be happy. I know that money is the root of all evil, but I cannot be told "no" because of credit or income.
2007-02-14 05:02:43 · 5 answers · asked by ryan0220@sbcglobal.net 1 in Business & Finance ➔ Other - Business & Finance
It seems like you already have a lot of wealth. Me, I had started working at age 16 (during the summer months) and with that money I got my first car at age 19. I attended junior college and paid for my own books. I'm assuming your parents have paid for your education so consider yourself lucky. You don't have any student loans to repay and are single so start investing your money now so you will be able to retire and live well.
2007-02-14 05:14:38 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Dear friend,
It is a nice thinking not to worry for money, but it is a lot easier said than done. I had same thought about 35 years ago. It was more aggressive. I wanted to be super rich too. I spent a lot of years working hard , thinking, trying many ways etc. and I want to share with you what I found in a couple of sentences.
There is only one way to be really rich. It is by giving. "Give it shall be given to you..." . Jesus commented this years ago. It is valid even today. Give your tithe. Be generous with everyone you come across. Be a giver and not a taker. Life will give it back to you. Your tithe will take care of all your needs supernaturally. Human hearts will not understand this. But it is a very practical, but simple solution. No one who has tried this has ever failed. But you will come across several who will doubt. They are those who have never tried . Till I found this truth, I never became financially independent.
May God Bless you.
2007-02-15 12:57:33 · answer #2 · answered by Wellwisher 1 · 0⤊ 0⤋
My big hero (and second ever American millionaire) P.T. Barnum said, 'The road to wealth [...] consists in expending less than we earn'. Sounds easy, but it isn't always...
When you do this you need to look at what you will do with this money to make it grow. If you put this money away at a bank against compound interest it grows quickly Ie. $100 per month at 3% interest saved for 30 years = $58,803
If you are more adventurous and earn more than 3% interest (because you invest in other investment vehicles like shares or real estate and have someone who knows what they are doing helping you), that $100 per month at (lets say) 7% interest saved for 30 years is now worth $121,287 ready for your retirement ;-)
Just imagine saving even more money and getting even more interest... 150 per month at 10% interest after 30 years = $325,698!!
The power of compound interest!!
Good luck and don't forget to also enjoy your life!!
2007-02-14 13:31:47 · answer #3 · answered by erianoillib 2 · 0⤊ 0⤋
Go get a copy of "Rich Dad, Poor Dad" it will answer all your questions. It is the best investment you could make in your future.
Money is not the root of all evil, it is what people do for money that can lead them astray. One of the biggest lessons I learned from this book is to "Make money work for you, don't work for money." You need to create the freedom you desire and working for someone else will always leave you wanting for more.
The second most important lesson is "Mind your Own Business." That goes along with the make money work for you, but now it tells you what to do. Sometimes while we are building that additional stream of income we need to work for someone, but take control of your future and make money work for you. Develop a business that will provide you with future revenues and make them work for you.
You sound like you are heading in the right direction. Continue reading and learning from those who have already been there and you will succeed.
Best wishes for you success~
2007-02-14 14:11:28 · answer #4 · answered by Anonymous · 0⤊ 0⤋
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2007-02-14 13:08:29 · answer #5 · answered by Steve H 5 · 0⤊ 0⤋