Kevin Wessell Encourages Giving to Charity as Part of Your Financial Security Plan

Online, December 27, 2009 (Newswire.com) - "Learn to live on 70% of your income," Wessell suggests. "The first ten percent should be given to charity. Give to well-managed organizations, such as churches or other charities, that help those who cannot help themselves. The second ten percent should be put into a savings account. Stock mutual funds in the index fund category may be a good place to start because over the long-term, this type of passive investment takes little time and tends to grow at a rate faster than inflation. The next ten percent should be invested into capital you manage to operate a business enterprise. Live on the remaining 70%."

He says that some of the great businessmen have lived by this philosophy. When Andrew Carnegie died, his desk drawer was opened. A note said, "I'm going to spend the fist half of my life accumulating money. I'm going to spend the last half of my life giving it all away." That's just what the great industrialist did.

"Benevolence is a great motivating force that has driven good men to great heights," says the CEO. "Look at Bill Gates and Warren Buffett, whose wealth have been combined to form one of the largest private charities in the world. Both of these men were highly motivated to accumulate fortunes with the knowledge that someday they would give it to help others less fortunate than themselves."

He emphasizes that if one starts young and follows the above habits, the average person can become a millionaire in his or her forties. At that point one can live off of the income produced by savings and investments. "It is nice when one gets to the point when one has the option work or not to work and still maintain one's lifestyle," he adds.

Kevin Wessell, author of "Build Your Financial Castle," is the CEO of Companies Incorporated, a global leader in business formations of US and international corporations and limited liability companies as well as forming legal structures to protect assets from lawsuits. The company can be reached by visiting www.companiesinc.com or calling 1-800-COMPANY (1-800-266-7969).