Mining Your Acres of Diamonds

Half of being happy is being happy with what you’ve got,
the other half is being happy no matter what.
Ash Sweeney

In the 1880s, Dr. Russell Conwell, a well respected lawyer turned pastor in Philadelphia, felt the calling to establish a college with the purpose of allowing young men of limited means to study for the ministry.  He founded what became Temple University by presenting more than 6000 times a speech he called “Acres of Diamonds.”

Acres of Diamonds is the story of an ancient Persian farmer who is told of the wealth of diamonds being discovered in foreign lands.  He sells his successful farm, and travels the world, searching for his destiny.  Finally, broke and destitute, he throws himself off a cliff.

Meanwhile, back on the farm, the new owner finds a strange stone, and places in on his mantle.  A traveling monk sees the interesting rock and informs the farmer he has in his possession, a diamond, a very large diamond, in its rough, unpolished state. The farm became The Great Golconda Mine, the most productive diamond mine in history.  The Crown Jewels of European royalty came from this source.

The previous owner had sold these acres of diamonds while he squandered his time, and money, looking elsewhere.

My friends, how many of you are sitting on acres of diamonds, but are trying to get rich quick using other methods?  I’m not saying you shouldn’t improve yourself, because that is what this website is all about.  But take a good inventory of your own talents.  Maybe you have a craft that might generate extra income for you.  Or perhaps you are a great salesman, and you could supplement your regular job with a part time sales job.  I cannot remember a single time in my 40 years of employment, that I did not have a second source of income.  From working as a part-time manager of a McDonalds, or from selling Amway, Cutco Knives, Real Estate, and for the last 20 years, as a financial planner, I’ve always had second sources of income.  But the key is, don’t blow this additional income, invest it.

Want to become a $millionaire?  It’s easy.  Take your additional money and, starting at age 22, begin investing $300/month into a tax deferred IRA.  If you average 7% a year, which is less than the average return for the last 75 years, then at age 65 you will have 1 million dollars.

So find where your acres of diamonds are, and begin mining them.

 Let me know what your acres of diamonds are.

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About Jerry Haynes

OK, where do I start. I was born…., no that line has already been taken.Call me…, oops so has that one. Well, I won’t attempt to spout musical prose, and just be myself. I grew up in the small cotton mill town of Fries, VA. My parents were hardworking members of the middle class. They never earned more than a little over minimum wage, but I can never remember lacking for anything. After graduating from Fries High School in 1969, I started to VA Tech. After two years of partying (1st), going to movies (2nd), and studying, well, much further down the list, VA Tech decided I need a two year break to get my priorities straight. With a number 8 in the draft lottery, I knew that even if the Hokies didn’t want me, Uncle Sam did. I joined the US Navy. I got my priorities straight. I’m proud to be a Viet Nam veteran, but feel guilty I never got deployed. I graduated from Tech in 1977 with a BS in Civil Engineering. For the next 35 years I would work in both the private and public sectors. My first job took me to Tazewell County, Virginia where I soon joined the Jaycees. This ignited my passion for individual development. This passion still burns today.

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