A mentally challenged young man once asked Brian Tracy after he heard him say anybody could be successful if they just did certain things in a certain way. He said to Brian in a very loud voice, “Mister Tracy, Mister Tracy, can I be a success, too?” While Brian was thinking of a proper response to his unexpected question, he continued speaking. He said “Mister Tracy, I live in a group home. Mister Tracy, we repair furniture. Every month, I buy a hundred-dollars savings bond. If I continue doing that, will I be a success, too?” The answer is Yes. Yes, because of the wonder of compound interest, this young man, living in a group home, repairing furniture with limited opportunities, can actually become wealthy. It is a known fact, that a person who saves $100 per month from the age of 21 to the age of 65 and earned an average return of 10 percent on the savings over that time period would be worth more than a million dollars at retirement. Even if you started earning an income at a latter age, you can retire financially independent if you discipline yourself to save and invest in the right financial instruments every month. If we are rich or become rich, however, let’s always remember to see ourselves as managers of God’s resources, generously giving to the needy and advancing God’s Kingdom.
“Earn all you can, save all you can, give all you can.” John Wesley
Credit: Brian Tracy. 2004. Getting rich your own way, Achieve all your financial goals faster than you ever thought possible. John Wiley and Sons. Pg 284