Tips for Building Wealth 5

Put some money away for your children.
“A good man leaveth an inheritance to his children’s
children: and the wealth of the sinner is laid up
for the just.” (Proverbs 13:22)
I met a man in Air Force basic training. We had a lot in common;
we were both from New Orleans, serving in the same
reserve unit and were both headed to Louisiana State University in
the spring of 1986. I rode home with him on weekends and to our
monthly military drills in Belle Chase, Louisiana at Alvin Calendar
Naval Air Base. His parents bought him a nice used truck for high
school graduation, and, as a college graduation gift, they gave him
a piece of land on which to build a home. They asked him to help
pay for his college education, and he used the military to do so. I
worked throughout high school for Pizza Hut, but did not have a
car because my entire income went to support the home in which
I lived. The money I made while on active duty for six months
would have purchased a car, but that money also went to the home
in which I grew up. Fortunately for me, the military paid my tuition,
and I had grants and student loans to cover room and board.
When my friend graduated from college, he and his high school
girlfriend married and built a new home on the lot his parents had
purchased for him. I had to start from scratch and build from nothing.
I’m not bitter, because the things I learned and earned along
the way have helped to shape me into the person I am today.
I bought my daughter a car for her senior year of high school.
I wanted to wait until she graduated, but she secured an internship
that required she attend one class at another high school and
work in a local hospital a few times a week. I thank God I was in
position to buy the car, as this opportunity will help open doors
for my daughter’s future. She wants to be a pediatrician, and this
internship will afford her the opportunity to receive a license to
work in any medical facility in the state. Doing so will allow her
to earn some income (at a rate higher than minimum wage) while
in school. I have a college 529 plan and mutual fund for my kids’
college education, but they will need some additional resources
to complete their educational journey. The journey will be a little
easier for my children than it was for me, because I learned the
principle of saving for their future.

Devin Oten
DO Enterprises
www.DevinOten.com
Writer, Public Speaker and Philanthropist

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