What would you do with it?
We could ask Cristiano Roanaldo the World’s highest paid soccer player, he should know, that is what he reportedly earned last year.
Judging by the photos of him (and his girlfriend) in the media they certainly have the lifestyle and the toys that go with that level of income but I can’t help wondering if he is following the first few commandments of money management which are:
1. Spend less than you earn.
2. Know where you money goes.
3. Pay yourself first.
You see it doesn’t matter if you earn $44 million or $44,000 you still need to follow the basic commandments as you never know what is around the corner.
The other commandment for those that suddenly acquire wealth or haven’t been used to a high level of income is,
Get good advice!!
Good advisers not only include accountants, lawyers and financial planners, but also money mentors. Change is rarely about the numbers (the math) otherwise it would be simple, but emotions cloud money issues. Money mentors can help you understand your money mindset so you can deal with the changes in your life.
Anyway, back to Ronaldo, he has an amazing sporting talent, let’s hope he has the right people around him to make sure he is investing wisely for the future, whilst enjoying the fruits of his labour at the same time.
Lynda Moore ww.mymoneyseeker.com