Without a clearly defined personal purpose for investing, enough will never seem to be enough. Without clear goals, the answer to the question, “How much is enough?” will always be, “More.”
In This Episode, We Look At:
Many get nervous or anxious when they do not know if they are on track to have enough money for their future.
It is not God’s plan for His children to worry. Phil. 4:6 Be careful for nothing
There are those who have more than enough now and for their future, but are still driven to have more.
Solomon warned, “He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this also is vanity.” Ecc. 5:10
Most investors have a general idea as to why they want to invest. How much money will that goal require?
Knowing the future dollar amount needed (roughly) will help you know how much to invest each month to reach your goal.
Begin with the end in mind.
Better is the end of a thing than the beginning thereof: Ecc. 7:8
Consider your future required income, then work backwards. Use the 4% rule.
Example: Desired income = $40,000/ year.
Withdrawing 4% annually from an $1,000,000 balance is $40,000 per year
Today’s Resources and Links:
One Thing You Can Do Today to Improve Your Faith and Finances:
Prayerfully consider your potential future financial need. Use a financial calculator to obtain an approximate monthly investment amount to meet that need.
What Are Your Thoughts?
If you have a question or comment about today’s topic, we invite you to share your thoughts.