Today on the Dave Ramsey Show there were callers who were describing what they were able to do for others since they were out of debt and had money in the bank. One gentleman talked about how each time they came home from a Cub Scout activity they would eat at Denny’s. Before they left they would pick up the check for another family in the restaurant anonymously.
Another caller said that a couple paid for their Christmas tree while they were at a store. Before they could find them and thank them they had already left.
The best story was a couple who was able to take in their 17-year-old niece who had lost her mother to prison and grandmother to cancer. She was living on the streets when she called her uncle. Today she is in college and on the way to becoming a physical therapist. She says that the moment she walked into her uncle’s home she felt like she was walking into the first home she had ever known.
If you use some of your money to buy assets to provide a steady stream of income and avoid going into debt, you’ll have the money to help other people too. You can’t save others from drowning while you’ll in the deep water yourself. Get yourself on shore and then start throwing out the life preservers. What could be more rewarding?
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Disclaimer: This blog is not meant to give financial planning or tax advice. It gives general information on investment strategy, picking stocks, and generally managing money to build wealth. It is not a solicitation to buy or sell stocks or any security. Financial planning advice should be sought from a certified financial planner, which the author is not. Tax advice should be sought from a CPA. All investments involve risk and the reader as urged to consider risks carefully and seek the advice of experts if needed before investing.