Monday, February 16, 2015

Control Your Cash

        Robert Babson said, More people should learn to tell their dollars where to go, instead of asking them where they went.
        Even Jesus said, If, then, you have not been faithful in handling worldly wealth, how can you be trusted with true wealth?  (Luke 16:9-11)
        One day, my friend Pam was talking about her aging mother and her two daughters.  She said, "Bo, we're torn between loving my mother and loving my kids.”
        Her mother was 63 years old and very sickly. Since her father died, her mother was living with Pam for the last two years.
        "Bo, we're not rich. But last month, we spent more than P12,000 for my mother's medicines. Again! I wish my two brothers and other sister would take care of her too,” she said, her voice trembling. "My husband doesn't complain, but I'm sure he doesn't like it. We have two daughters and we sometimes can't buy them things for school because of Mom. Yesterday, my daughter asked me again if I could buy her a computer—but I told her, 'Sorry, we can't,'” she paused to breathe, fighting back her tears, "'because grandma needs our money.'”
        "Have you asked your brothers and sister to help out?” I asked.
        "We fight about it a lot. Over the phone. Emails. I tell them to let mother stay in their homes. That it's their turn. But they tell me they can't afford it too.”
        "I see.”
        "Bo, the sad thing is that Mom feels it. She knows we don't like her at home.”
        "Why do you say that?”
        "I just know. Perhaps she overheard us fighting. Sometimes, she talks about dying so that we won't be burdened anymore.”

What If We Can Go Back in Time?

        What if this 63-year-old grandmother read this book when she was in her 20s, 30s, or even 40s? The situation would have been totally different.
        Dramatically different.
        Because she and her husband could have saved every month 20 percent of their income and invested it in the stock market, mutual funds, and other investments.
        By age 63, she would have had P10 million.
        She'd be living comfortably in her own simple house. She'd be paying for her own medicines and doctor's fees. With her own money, she'd have hired a fulltime caregiver and house helper.
        Every weekend, her children and grandchildren would visit. The grandkids would love going there because there's always delicious food prepared for them.
        During those visits, her four children would "fight” for grandma to stay in their home.  "Mommy, you always stay with my sister,” the younger sister would say, "Why don't you also stay in my house?”
        Once a year, grandma pays for a big family vacation for all her children and grandkids.  Last year, they went to Vigan. This year, they'll be going to Batanes.
        Thanks to grandma, everyone looks forward to this big break.
        Now I ask you: What kind of future do you want?

        May your dreams come true,
        Bo Sanchez

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