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Old 06-02-2016, 07:51 AM
Here2help Here2help is offline
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Join Date: Feb 2016
Posts: 21
Default What is a prosperous life?

Thank you all that who have read my previous posting on what is money. I thought I'd continue to share more. So here is my next posting. Please share your thoughts on these or if there is something you want to learn more about....

What is a prosperous life?

We live in this world where we’ve learned to use every second. We are so tied to our phones looking for that instant gratification of a notification. We’re all chasing that next bigger promotion to be able to make more money so that we can spend more. We all want that Millionaire Life. But have any of us really stopped to realize what all this chasing around is getting us further from where we want to be…

The ML is attainable. But I don’t think that people realize they can have it now. So what does a ML look like to you… is it being able to do what we want, when we want and have the means to provide for that lifestyle?

To break this down, we want to have the time, nice things and money to do with as we see fit. So how can we do this now??

Let’s start off covering our basic needs: food, clothes, roof over our heads and a way to make a living. These are just a few necessities we need to survive in life. I’m not talking about a lavish life, but a comfortable one where you’re not worrying about where your next meal will come from. For most of us, we’re very lucky to have all of this covered and still have extra money left over at the end of the month. This is all within a standard 40 hour work week.

So what do we with our surplus of monthly income? Well…. I think that we all get caught up in the idea of the ML where we want those bigger and better things now. With the access to money so easily we just get a loan for it. The more of these we get the more that we have to work to keep paying on the debt that we’ve created to get those things. So we just look at it as well I just need to make more. And that is where the cycle begins to spiral you further and further from your goal of the Millionaire Lifestyle.

If we just pay off all of those debts, how much more money do you think that you’d be able to keep and do with WHAT YOU WANT? What do we really have for loans? Well what do we spend a month on in interest: there’s the car loan ($250), the watch ($10), a new tablet ($20), latest app ($3), etc. I bet there’s a lot on credit cards, personal loans, more education for the next promotion/job. It can easily add up to $500 or more a month. At $500/mo, that’s $6000 a year that could be easily in your pocket, instead of someone else's.

Think about how many hours a month extra you have to work to just be able to pay for that extra $500/mo in interest? Let’s say you make $30,000 a year gross. Then after taxes it will take you about 52hrs in a month for you to have $500 in your bank account. Yeah 52 HOURS!! Talk about how not having debt will GIVE YOU THE TIME to do more of what you want to do more than just working.

Let’s say we just keep our basic needs to a minimum. To give us a nice comfortable living with no debt. We’d only have to work say 40 hours a week. No worries about paying the bills, not having to chase after than next promotion and money in the bank to do with what you want.

Having a financial plan like this allows you to have the time you want, the means to do what you want and the nice things. Wouldn’t you call that a Prosperous Life?

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