Turning 50 – Where Did Your $1 – 2 Million Dollars Go?
How Would You Spend $1 – 2 Million Dollars?
Imagine you are given 1-2 Million dollars over a 20-25 year period to manage, what would you do with it? Would you spend it on a nice wardrobe, designer clothes and shoes, a fancy house, nice vacations or your children’s education?
Perhaps you would spend it on dating, parties, and entertainment. Maybe invest it in real estate, gold, or save it for a rainy day.
Would you give to 10% to church to spread the gospel and invest in kingdom building? Would you give to charities, friends and family that need your help? Would you generate 10, 30, 60, 100% more than you were given to manage? Would you be prepared to leave an inheritance for your children?
Now, if you are over 40, look at your Social Security Earnings Statement , how much money have you earned since you started working. Are your earnings approaching or exceeding $1.0 Million dollars? How well have you managed the increments that were given to you? Can you make an account for what was put into your hands to manage, and what you have done with it? If you work on average for 25 years with a salary of $40K, you will earn $1.0 Million dollars, so what have you done so far?
This may be a great time to take a look back and identify lessons learned and create an action plan to move forward. If you haven’t saved or invested as much as you like, you can implement a plan to catch up. If you have knowledge that can help someone else, you may want to share or mentor someone. The key point is it is not too late to set some goals and make some changes that can impact your future.