Overcome the magical money myth and put yourself on the path to true financial security

jim stovall There are few things in our chaotic lives that are more reliable and dependable than money. Dollars can be counted, budgeted, and allocated. Money acts the same way every time and will do exactly what you tell it to do, but it’s not magic. I’m always amazed when people take this down-to-earth medium of exchange and expect it to be magical.

For over 25 years, I have had a college scholarship, and to date, we have helped send over 500 students to my alma mater. Recently, I ran into an aspiring student and her mother at an event where I was speaking, and they told me they were hoping to get one of my scholarships. When I told them we were going to have a board meeting to review the scholarships in just a few days they were astonished and replied, “Oh, we didn’t fill out an application.”

I am baffled how often people expect their bills to be paid, retirement to be established, and expenses to be handled through some magical property of money that simply doesn’t exist. If you’re depending on money to do something that can’t be added up, multiplied, or compounded, it’s probably not going to happen. People are invariably waiting for their ship to come in, and the majority of them never sent a ship out.

A significant percentage of people who have access to free matching dollars for their retirement funds through their employer still don’t take advantage of it. People who attend my Millionaire Institute events learn that if you will save $10 a day and invest in a simple Index Fund that has returned 12% for more than half a century, you will be a millionaire in 30 years. People are astonished when they see the simple mathematics, but when I follow up to see how many of them are saving $10 a day, I am generally disappointed by people’s failure to engage.

Money is a great tool if you use it and a tremendous slave if you will put it to work. Money is the fuel that can make your dreams come true, but they will always be just dreams if you don’t put the fuel in the engine and engage the ignition switch. To end up where you want to be, you’ve got to go on a journey from here to there, and to have a successful journey, you’ve got to start.

Financial independence is within your reality once you give up the myth of magical money.

As you go through your day today, live in the real world, not in the smoke and mirrors of magical money.

Today’s the day!
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Jim Stovall is the president of Narrative Television Network, as well as a published author of many books including The Ultimate Gift. He is also a columnist and motivational speaker. He may be reached by visiting www.JimStovall.com.