Raining Money

From the sky comes …

What if the sky above your house began raining? Yeah, it does rain on houses, nothing new about that. What if it were only raining on your home and no one else? That would qualify as odd.

To take this scenario one step further. As you gaze from your bedroom window, you notice this abnormal rain. This rain was green, sheets of green were pouring down. You step out into the rain as various dominations of cash flow on you and hit the ground, tens, twenties, fifties, and hundreds. Your dreams come true. All the money you ever asked for is right in front of you. You shout to your family, “Get the rakes, brooms, buckets, and trash bags, hurry!”

After many hours of gathering the money, the rain suddenly stops. As the rainfall ends, you dismiss a white envelope that fell with the money with a label stating, “very important please open immediately”.  You call out sick from your job due to exhaustion and figuratively bathing in your spoils. You ask yourself, “Was it luck, blessings from the heavens, or witchcraft? Your mind takes you on a journey to every possibility. Your family is dumbfounded by the miracle that just occurred. For the next few days, you waste no time counting your fortune. You and your spouse quit your jobs.

The time of calculating your newly found wealth is over. The next mind stop is what to do with the money. Your kids and spouse have unleashed their imaginations to unlimited boundaries. The discussions involved buying a huge mansion by the sea or splurging on luxury cars and jewelry. Your youngest challenges the family to subscribe to the latest toys while your teenager solicits a trip to video game heaven. You and your spouse daydream of vacations without end and never trading time for dollars.  You are no longer in financial bondage. You realize you are finally free.

In the meantime, as you contemplate your next steps, you bury your money in the backyard in impenetrable safes. One month goes by and you decide to check on the money. You dismiss the white envelope again. For the next two months, you check on the money ignoring the white envelope.

The day has finally arrived to spend the money. You raid the buried treasure every opportunity you get. You unleash your family on “Project Spend the Money”. Your family goes wild. You buy this and then you buy that. And why not buy everything you can as the money will last forever. The spending spree has no end, at least you think. You take a break exhausted from buying stuff and traveling.

After some time has elapsed, you check on the money and realize to your horror that all the money is gone. There is no sign of any tampering or break-ins.  Your family weeps at the sudden loss and for the end of the spending spree. In your grief, you finally open the white envelope you had dismissed for months. You realize it is a set of instructions on how to use the money. The letter stated the money will never run out if you simply follow its instructions. Of course, little too late as the money is history.

The first part of the instructions directs you to give away 33 1/3 percent of the money to those in need, charities, individuals, and families. The second part advises you to establish certain businesses with 33 1/3 percent of the remaining money. The third part states to invest the last 33 1/3 percent of the money. Your family missed out on an opportunity to help others and yourselves in the long run. True, this is only a made-up story. However, there are lessons to be learned when faced with opportunities that can enrich your family's and others' lives. 

What can we learn from the fantasy story above regarding building wealth?

1. Avoid greed. Greed is a very deadly sin. It will mesmerize you and taunt you into believing that your truth is the only truth. Greed will convince you that world domination is a great thing instead of giving back to the community.

2. Create an action plan. Without a viable plan of action, you will never know where you need to go, what you need to do to get there, and when you have arrived at your destination.

3. Start a business or invest in other businesses that resolve problems uniquely. Maintain patience and perseverance. Build an effective team. Hire or work with the right people that will propel your business to the next level.

4. Save and invest your money. Let your money grow with compounding interest. Never outlive your money. Avoid touching the principle as much as humanely possible. Don’t buy liabilities. Mistakes will happen but don’t do stupid, blowing your money on things that lose value and rob you of the future you always wanted. Learn how to budget and spend wisely. Also, diversify your investment holdings. Remember the old saying never put all your eggs in one basket?

5. Teach your children to be wise with money. Teach them not to compare themselves to what other children have but to focus on their future. Educate your children and allow them to grow in knowledge and activate their wisdom mindset. Buy age-appropriate books on money. Leave them a legacy. Don’t spoil them but leave them a leg up.

6. Live a full well-rounded life. Do things you enjoy. Life is short so live the life you always wanted but with a viable action plan, a life plan. Money shouldn’t be the only driving force or motivator, but it sure helps to have as much of it as possible.