What Will You Do With Your $1,000,000?
by Tom Moline
According to 2009 data, the average household in Buffalo earns $59,369.00 per year. Based on that figure, the average household will have earned a million dollars in 16.8 years. That just amazes me. This is not a get rich quick scheme. Not winning the lottery. You’ll have earned a million! For you the yearly income may be lower or higher. If it is lower, it will be longer than 17 years, but higher salaries will reach $1,000,000 sooner.
So the question is… What will you do with your $1,000,000? It’s a lot of money. Children shouldn’t be allowed near that much money. It takes an adult, preferably two adults, to handle that much money. I found two Bible verses that offer advice regarding your million dollars.
“Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?” Luke 14:27-29. You don’t need a tower. You need to fund your kids’ college education. You need retirement income. You need a plan. Without a plan the bank and the credit card companies will gladly take the entire $1,000,000 and you won’t see it coming. For a building you need blueprints, the plan for money is a budget. I’ve worked for a lot longer than 17 years, I couldn’t tell you where the money went. Lucky for me I’ve got a diligent wife who has made that plan, that budget. She made that plan to save, invest and give. It’s like that old story of the turtle and the hare. Steadily move closer and closer to your goal. No matter how many times you read that old story, the rabbit never wins.
Giving is an important part of that plan too. Commit to the LORD whatever you do, and he will establish your plans. Proverbs 16: 2-4. You need balance. Being a spendthrift will get you into financial trouble. On the opposite extreme, hoarding everything won’t allow God’s blessings into your life. If your hand is too open, the money will fly away. If you close your hand into a fist, no money can get in.