Pearls of the King – Lee Domingue

It’s a book.

I read it a while back.  I’m not giving it away.

I would not say that Lee is a writer, but I don’t think he would either.  The good news is he doesn’t have to be.

Two things worth mentioning from this book:

The first is Lee’s incredible testimony, from carefree indulgence to a perfectly timed missed flight.

I’m not giving you more than that.  I’m one of those if you ruin the movie for me you may die kind of crazies.

The second is the relationship that Lee uses to compare kings to legacy builders.

I don’t even think he even said all that I’m about to say, but hopefully you can understand why I’ve fallen in love with the idea.

Lee Domingue is rich.

And while I can’t confirm it, he has probably given more money away than most people make in their entire lives.

He’s a legacy builder.  He’s a king.

A king.  For the Kingdom.

I’m interested in kings in general, at least the concept.  I wouldn’t grovel over them, but they are fascinating creatures.

Of course, they don’t live in America.  So Lee makes the point (or at least I take the meaning how I’d like to) that kings do still exist.  They have not become fossils; they are alive and well.

I’m reminded of a Proverb.

Do you see a man who is skillful in his work?

He will stand among kings, he will not stand before obscure men.

You may recall Joseph being given control of all of Potiphar’s house. You may recall Joseph standing before Pharoah. You may recall Joseph impressing Pharoah.

You may recall Joseph being set over all the land of Egypt, being 2nd in command under Pharoah.

You may recall Daniel standing before kings… four different kings… and impressing them all.

Another man named John Graunt achieved enough to grab the attention of the king (Charles II of England) in 1666.

There was a Royal Society of which the king wanted to make Graunt a part, but the other members of the society were not thrilled about a “mere tradesman” being counted among their group.

The king’s reply:  If they found any more such Tradesmen, they should be sure to admit them all, without any more ado.

Graunt excelled in his work. He stood before the king.  He did not stand before obscure men.

I want to excel in my work.

I want to stand before kings.

I want to become a king.

For the King.

Don’t conform.

Thought of the Week

Something to think about over the weekend.

(Warning:  Lot’s of numbers.  May cause boredom).

Quasimodo asked me to figure out how much money he would have over 30 years if he maxed out his 401k every year until then.

It was a lot.

This is not an investment blog, so I’ll spare you as much as I can, but I want you to consider it IF YOU ARE FINANCIALLY READY!

Take care of the other crap first, but…

Let’s say you are able to max out your 401k every year.  It’s $18,000/yr for everyone.  But often times your company will match some of it.  The company match does not count toward your limit.

Anyway, assume you’re able to contribute $22,000/yr after the company match.

And assume you did it for 30 years.

I want everyone to see this.

Assuming a 6% rate of return on your investments, your total amount at the end of 30 years would be $1,739,280.

And ten cents.

In my current lifestyle, if I did not reinvest my dividends and just took out the lump sum, that would last me 28 years.

Yes, I know about taxes and inflation.

The good news is a 6% return on investment is reasonable AFTER taxes and inflation.

The real dollar amount would look something like $5,309,000.

And even with inflation…. it’s still 5 million dollars.  Who is complaining?

Anyway, you’re thinking that you can’t max out your 401k, so I can’t be talking to you.

I get it.  I don’t max out my 401k.  Maybe one day.  But not right now.

Let’s say you can only put in $11,500/yr for 30 years.

That looks more like $909,000.

In your pocket.

If you live off of $2000/mo in 30 years from now, that money will last for more than 37 years.

Assuming you don’t reinvest your dividends.

Which you should.

But what do I know…

Anyway, just think about it.  I’m not telling you what to do.

You don’t have to focus on a 401k.  There are tons of investment options.  Many of them equally beneficial.

But say No! to life insurance investments.

JUST SAY NO!

Don’t conform.

 

Wheel of Fortune

I’m considering the idea of the possibility of maybe writing another book.

1 of 2 things popped into your mind upon reading that:

1. Oh God please don’t.

2. What do you mean another book?

If you’re number one, who asked you?

If you’re number two, I wrote a short self-help type thing about a year ago. It’s on the resources page here on the website.

Paul once said Imitate me as I imitate Christ.

Well, I can’t say the same, obviously, but I can, with confidence, say that it would benefit most to read it.

The kicker is that I don’t want you to pay for it. Download the pdf from the site and read it. Follow it. Implement it.

Just do it.

Now, as far as this new idea is concerned, I’m not going to tell you the overall premise because I don’t want you to steal my potential bread winner.

But I will allow you a glimpse of the topic, and that is where the title of this post comes into play.

I think it would be more fun for you to guess.

I shall provide a few hints, and you see how long it takes you to guess.

1. I write about money stuff.

2. Wheel of Fortune is game show that has been airing for God knows how long.

3. On said game show, contestants spin a wheel with lots of different dollar value sections and a few non-dollar value sections.

4. I’m talking in particular about one of these non-dollar value sections.

5. It’s black, and you don’t want to spin the wheel and land on this section.

6. If you don’t know it from number 5, you’ve never paid much attention to Wheel of Fortune.

7. It’s bankruptcy.

8. Why am I still numbering hints?

I’ve spent very little time around bankruptcy, and my knowledge base on the subject is extremely limited, but I have gathered some very important characteristics of bankruptcy that are worth passing along immediately.

  • It is NOT free
  • Not all debts are forgiven
  • It does not change your behavior

Let me say also that I really hope this post doesn’t help a single person.

If it did, that would mean a reader is facing the possibility of filing for bankruptcy. I truly hope that is not the case.

But if you are, I’m not saying you should avoid it. It could very well be the best option for you. However,

  • Beware of wolves in sheeps clothing (bankruptcy attorneys who do not have your best interests in mind)
  • Reach out to someone knowledgeable who DOES care about your financial well-being

Cool?

You got a buncha lists today. Hope you enjoy that.

Don’t conform!