Financial Hero – My Parents!
Why are MY PARENTS www.JosephSangl.com Financial Heroes?
Because my Mom & Dad taught me a lot about working hard, investing, and running a business.
My father started his own home-building business in the early 60s and managed to run that business all the way to retirement. That is NOT a small accomplishment!
My mother ran the home economy. We had a garden that probably totaled over an acre of land. I remember days where we picked BUSHELS of green beans in the morning, snapped them all through the afternoon, and canned them all night. Some days we would can over 100 quarts of green beans at a time! She made clothes. She bargain-shopped. She cooked nearly every meal from scratch (cheapest way to make a meal – also the tastiest).
My parents managed to support a family of SIX boys through this business and develop some sound investments that prepared themselves well for retirement.
It was my father who gave me the book written by another www.JosephSangl.com Financial Hero, David Chilton, The Wealthy Barber, to read. Through it I learned about the POWER of compound interest!
My parents never splurged on anything, but we ALWAYS went on a family vacation every single year. We also had some motorcycles, dirtbikes, bikes, canoes, and fishing poles that ensured that we could have fun through the year.
Thank you, Mom & Dad, for instilling sound financial principles in me and showing me the importance of working hard! You are officially www.JosephSangl.com Financial Heroes!
Financial Hero – Howard Dayton
Why is Howard Dayton a www.JosephSangl.com Financial Hero?
The short answer requires only three words: HE LIVES IT!
Howard is the CEO of Crown Financial Ministries, the world's largest financial ministry.
Get this, Crown's Main Objective is this:
To teach God’s financial principles to 300 million people by September 15, 2015.
Folks, just in case you missed it, I am going to add the 0's behind the 300 there. That is 300,000,000 PEOPLE! That is an officially REDONKEYKONGULOUS number! That is outrageous! That is unreal! That is crazy! It sounds like something only GOD could do! I LOVE it!
I have a personal goal to teach over 100,000 people about finances over the next five years. It makes my goal seem way too small.
I have read Howard's book, Your Money Counts, and I love the perspective that he emphasizes throughout the book. Howard emphasizes that we are just managers of the resources we have. We are not the owners. You haven't seen anyone take anything with them when they die. Land, possessions, stuff … it all just goes to someone else.
Howard actually includes a Quit-Claim Deed certificate in his book where you transfer ownership of your possessions and stuff to God. AWESOME!
Crown Financial is also heard daily on radio stations around the world with their Money Matters and How To Manage Your Money. In these two shows, Crown Financial is able to teach and instill HOPE in the areas of money management and its impact on life. You can listen to these shows ON DEMAND by visiting CROWN.ORG.
Howard, thank you for consistently reminding me who is the true owner of our possessions. For that, you are
named an official www.JosephSangl.com Financial Hero!
Financial Hero – Thomas J. Stanley, William D. Danko
Why are Thomas Stanley and William Danko www.JosephSangl.com Financial Heroes?
Thomas Stanley and William Danko became www.JosephSangl.com Financial Heroes when they wrote a book titled The Millionaire Next Door. Stanley and Danko conducted multiple controlled studies of affluent people. Wealthy people.
I have always said that if one wants to become wealthy, you should speak to wealthy individuals and learn what they have done and are doing to create more wealth. You do not go to your broke brother-in-law to become wealthy!!!
Stanley and Danko take this to an entirely different level! They went to the wealthy people and conducted studies on their behaviors to try and understand why they have become wealthy. What they found is AWESOME! It is best summed up by the start of the book which I have transcribed here …
These people cannot be millionaires! They don't look like millionaires, they don't dress like millionaires, they don't eat like millionaires, they don't act like millionaires – they don't even have millionaire names. Where are the millionaires who look like millionaires?
Oh baby! This book proves WITH PILES OF DATA (you KNOW that I love that!) that the "keeping up with the Jones'" crowd are destined to remain B-R-O-K-E.
Stanley and Danko talk about UAWs and PAWs. Under Accumulators of Wealth (UAW) and Prodigious Accumulators of Wealth (PAW). There are many professionals who have a relatively large net worth but are actually UAWs. Why? Because just because you have a net worth of $350,000 does not mean that you have done well financially! What if you are a doctor who is earning $240,000 per year? Is $350,000 a prodigious amount? ABSOLUTELY NOT! To be a PAW, a 40 year old doctor earning $240,000/year would have to have a net worth of $960,000 or more!
Don't get it? Read the book! It will challenge you in ways you have not been challenged financially.
Thomas J. Stanley and William D. Danko – You have officially been named a www.JosephSangl.com Financial Hero!
Saving Money
CNNMoney.com had a great article about American's savings status on April 11, 2007 titled Have Less Than $25K In Savings? Get In Line
It is sobering and backs up what I have been saying about American's spending habits! We are spending ourselves to oblivion!
Key Points
- Nearly half of all workers saving for retirement have savings that fall short of the $25,000 mark …
- Overall, 40 percent of respondents said they are not currently saving for retirement while 34 percent said they didn't have ANY retirement money saved whatsoever. A full 25 percent, meanwhile, said they had no savings at all – retirement or otherwise!
This makes me want to CRY!!! What are we thinking? That some magical fairy will show up at retirement and pay all of our bills? Are we so oblivious to this epidemic that we can't see it or have we just chosen to ignore it?
Read that key point again! Forty percent are not saving for retirement right now!!! What are they going to do? What are their plans?
Folks, this crusade is so HUGE! I need your help in reaching others! Have you spoken to your friends and family about this?
It is NOT HARD! It is NOT hocus pocus … it is FOCUS pocus! It takes about 2 hours to sit down and put together an INCOME – OUTGO = EXACTLY ZERO budget! The tools are free on www.JosephSangl.com! Just click on TOOLS at the top of the page!
Go tell your neighbors! Go tell your friends! Go tell your family! Invite them over for dinner! Show them what you are doing that has changed your entire financial future! Show them that it can be done! Show them that there is HOPE! Show them that you are there to help them!
Let's reach America and show them a better way!
Financial Hero – David Bach
Why is DAVID BACH a www.JOSEPHSANGL.com Financial Hero?
A friend of mine named, ironically, David, gave me a copy of David Bach's book, Smart Couples Finish Rich, to read. That was all it took for me to name David Bach a Financial Hero. In this book, David Bach talks about the importance of working together as a couple on your finances. In relationships, money represents so much more than just something that is used to pay for things. If allowed, money can dictate who has the power and control. Money is connected to so many aspects of life and relationships.
David Bach also emphasizes the importance of making things AUTOMATIC! If you make your investments automatic via automated monthly withdrawals, you can't help but become wealthy!!!
I have also read David Bach's, The Automatic Millionaire. This book really details HOW to set up your investments and the POWER of compound interest. I love reading about compound interest. It is such a GREAT friend when it is paying you!
David Bach's materials should be required study for juniors and seniors in high school!
David Bach, you are an official www.JosephSangl.com Financial Hero! I admire your personal crusade to help others win with their finances!
Other books written by David Bach include Smart Women Finish Rich, Start Late, Finish Rich, and The Automatic Millionaire Homeowner.
