What if we told you that you're a millionaire at only 22 years old? Find out why your future work outcome is such an important factor on your personal balance sheet in this quick video from Voice Wealth Management.
Topics Discussed:
The value of your future work
Consider how you’ll use your future earnings
You can watch this video and others on the Voice Wealth Management YouTube channel.
Transcript:
Hi, I'm Russell Rivera, founder and president of Voice Wealth Management. And welcome back to our instant blog series. So here's a quick one.
What if I told you you're 22 years old, and you're a millionaire?
No, really doesn't matter that you don't have a million dollars in cash, but you're probably a millionaire. And what does this mean?
Well, very simply, if I were to do a personal balance sheet, on you, on whomever you are, you have essentially one of the items that people don't put on a personal balance sheet all the time is essentially their future work outcome.
So, at some point, I can look no matter how many hours, how many years of your working life you have left, you have labor that you're probably going to be able to do, and you're going to earn more than a million dollars for it.
And that's in that in the sense in which I say you're a millionaire. Not that you have it in hand right now. But you're going to be able to put out the work for it. Whatever that is, regardless of your income level, whether you work hourly, where you work, you know, a more salary job. So just think about it. You're going to be able to turn your potential what you can do into money, and it's going to be over a million dollars, more than a million dollars over the rest of your life.
So just ask yourself, how do you want to use that and use that well?
Just thought food for thought. I'm Russell Rivera, with Voice Wealth Management. And we'll see you next time.
Russell D. Rivera, CFA, CFP® is the Founder and President of Voice Wealth Management (Voice) in New York, NY. He also likes to think of himself as a Personal CFO and Financial “Therapist” for entrepreneurs, young professionals, and their families. He helps clients make prudent financial decisions regarding spending, saving, investing, and planning while giving a voice to the individual client's financial priorities and experiences.