Go to the theater and the message is clear: Everyone LOVES super hero movies!
Disney is practically printing money using the success of the Marvel studio franchises. Since Iron Man, they’ve made over $10 billion dollars! And Warner Bros is no fool either. They hope to capture some of that market share with their upcoming line-up of DC-based comic book action movies.
So, what exactly is the draw to these movies? Why are they so irresistible? And what makes us have to rush out on opening day with the whole family to spend +$50 and be the first to see them?
I’m Batman!
When I was a kid, my favorite super-hero, by far, was Batman.
I was right about at that tender age of 9 when the Tim Burton mega-hit was released back in 1989. To a young boy, that was just about the coolest thing I had ever seen! Batman embodied everything there was about being amazing. By day, he was the incredibly wealthy Bruce Wayne who lived in a huge house, threw lavish parties, and was smooth with the ladies. But by night, he was an unstoppable, kick-butt, crime-fighting machine with sweet gadgets, a cool car, and incredible ninja moves.
What was it about the Batman story that was so particularly intriguing?
Maybe it was because it was easy to relate to Bruce Wayne’s dark and complex character. Or perhaps it was the very thing that Batman stood for. He was the product of a horrible crime. His parents were shot by a street mugger, and that caused him to seek revenge on all those who do injustice. Batman was there to help people who could not help themselves.
How can he do this?
For me, this is the truly interesting part. He was not a mutant. He was not from another world. He was not enhanced with super powers of any kind.
He was simply rich.
Money and Batman
Money was thing that enabled Batman to do the things he could do to fight crime.
I thought the Christian Bale Batman / Christopher Nolan series of movies did an incredible job of depicting this. Wayne Enterprises had a defense contractor division of inactive weapons that it had developed, and this allowed Batman to have everything he needed: His suit, his car, his weapons, etc.
Could there have been a Batman even if Bruce Wayne (or his family) was never rich? I suppose so, but it would not have been nearly the same. Money certainly helped greased the wheels and enable him to get all the tools that make Batman so unstoppable.
So, I ask myself: What can I learn from this? How does money enable me to do more “good” in the world? … to help people?
Using My Money As a Super Power
The thing to keep in mind is that “helping people” can take on many faces and happen in many different forms.
When I was a teenager trying to decide what I wanted to do when I got to college, I briefly decided that psychology would be a cool major to pursue. Why? Because I wanted to understand how the mind worked and, more importantly, help people to overcome their problems.
As I’ve become older, I’ve realized that “problems” come in many shapes and sizes. And, likewise, helping people can also be done in a variety of ways.
For example: I originally started this blog as a way to help people be better with money. I was discovering all kinds of simple tricks and strategies to help build wealth, and I wanted to share that knowledge with the rest of the world.
The same is true for the ebooks that I’ve been writing. I’m not pumping them out with the hopes of making thousands of dollars in income. I’m writing these ebooks with a focus on quality to help answer specific money questions in a very structured manner; like a how-to guide that you can use to fix very specific issues you might be having.
Ever since my bout with cancer, I’ve been thinking about what role money could play in my legacy from a much, much larger perspective.
One thing that has particularly perked my interest is the idea of creating a trust. Unlike a normal trust used for estate planning reasons, my idea is to create a living, legal entity of money that will do something “good” even after I’m long gone.
Starting a Legacy:
For example: Let’s say in 30 years I’m able to set aside $1,000,000. (That might seem like a large number to you, but every time I run retirement scenarios in FIRECalc, most of the outcomes show that over time my wealth will grow to levels far beyond my conservative estimations thanks to the wonders of compounding.)
What if that million dollars was converted into a trust that paid out for the college tuition of my grandchildren? Imagine that – “free” tuition to help enhance my grandchildren and beyond for generations to come. We’d be like the Kennedys!
How amazing would that be if your parents or grand-parents had set aside such a fund for you to enjoy when you went off to college? Using a simple 4-percent withdrawal, that’s an inflation-adjusted $40,000 per year that my descendents could use.
Is this possible? You bet it could be.
First of all, it wouldn’t take very much to get there. A present balance of $131,367 with no extra money added has the power to potentially grow to an inflation adjusted one million dollars in the future.
What about the longevity of such a thing? First of all, we know that a withdrawal of 4% or less is pretty conservative level from retirement planning that will help ensure we don’t run out of money for at least 30 years. On top of that, we can also reason that not every year would there be a withdrawal since most people only to college for a limited number of years.
College is just one example. You could take your money and support all kinds of other causes. You could even make multiple funds. The possibilities are endless!
And how was all of this possible? Because of your money. Because you put a little bit of effort and planning into it, and were able to grow your money into something that both you and future generations from you can enjoy.
Let Money Enhance Your Ability to Good
Though I may not have a dark cape and be able to kick crime butt, to me, the ability to create a financial legacy like the one I just described would be a pretty close second. By using my knowledge of compounding returns and being forward-thinking enough to set aside small “seeds” of money that could grow and grow above and beyond anything a regular person could earn or save in a lifetime, I could do a lot of good! I could help myself, my family, and anyone else that I wanted to use my super powers on.
It starts now with exactly what we’re doing: Planning. Financial skills like saving, investing, and planning aren’t just things that will help us retire early or achieve financial freedom. We can think bigger! We could use both the money we’re going to generate and the knowledge of how to get there to make a tremendous amount of difference in the world.
And if I’m able to pull this off, I think I’ll get the honor of saying (with pride) the iconic phrase: I’m Batman!
Readers – How does money give you special super-powers? How do you think you could use your money or personal finance abilities to make a difference in the world? What was your favorite super-hero?
Featured image courtesy of IMDB
ARB says
Like criminals, day jobs are a cowardly and superstitious lot. They prey on the weak and unsuspecting, and this city has become filth for it. They steal from us; our time and our lives and our happiness. The police look the other way, but we can not.
By day, we work at day jobs. But by night, we seek to eliminate them under the guise of that which they fear most; financial freedom. As we shroud ourselves in the darkness of free speech, independence, and self-fulfillment, the crimes of those in power are brought into the light
We fight during the night so no one will ever have to work during the day. So that no boy should ever lose their parents to a last minute business trip that no one could have foreseen.
We are vengeance. We are the night. WE ARE BLOGGERS!
Sincerely,
ARB–Angry Retail Banker
MMD says
Wow … spoken with true comic book prose! I could almost see the story line unfold as I read that comment. Nice job!
EL @ Moneywatch101 says
Yes that is a great idea, and I have a similar interest with education. WE will see how it goes and life is all about giving back in my opinion. Good luck.
MMD says
It certainly is all about what you can do for others. What were your plans for education?
Financial Slacker says
When my children were very young, their grandparents started 529 plans for them. With only modest annual contributions, those funds have grown signficantly and should pay the substantive portion of their college tuition, depending on where they go.
The other thing we did was set up whole life insurance plans for them. The premiums aren’t very big and the cash value will grow such that by the time they hit retiirement age, they’ll be worth quite a bit. Plus, with the policies, they have the ability to buy additional life insurance without needing to qualify medically. That could turn out to be a huge plus.
It does feel great to know you have set up a structure for your children and grandchildren to benefit from financially.
MMD says
Thanks Financial Slacker, and welcome to the site! That’s exactly what I’m talking about. How cool that your children’s grandparents and yourself had the foresight to plant those tiny financial seeds that will grow to be something very big and substantial some day. What lucky kids!
Jayson @ Monster Piggy Bank says
With great power comes great responsibility and this quote is also applicable to money. I think with more money the better we have to be in managing it.
Allan Liwanag @ The Practical Saver says
This post is absolutely great. For me, I believe that money brings out the superhero in you. I remember when I was a little kid, I couldn’t buy the things I needed for school because we didn’t have money. Money, in this case, is a superhero in addressing my school needs.
I totally agree with you when you say that money can help you do more good. I’ve been able to contribute more to the church because I a little bit more money now.
MMD says
Thanks Allan, and welcome to the site. That’s great you’ve got more money for your church. Earning more and using money doesn’t always have to come with such negative connotations. When done right, it can be used for the power of good.
Larry' says
If everybody would use money for the power of good we would life a perfect life.
Michael says
What an interesting comparison. I never really liked Batman (Marvel fan here!) but you make a good point. He did use money as his super power and he did well. Saving money should definitely be considered a super power these days, since not many have the ability to actually put something aside, and you are often forced to spend it before you planned because of random life situations.
Like the commenter above, I also set up savings accounts for my children when they were born, and I encourage my friends and clients to do the same.
MMD says
Your kids are really going to think you’re “super” when they find out that you have money set aside for them. That’s some great forethought!
Our Frugal Escapades says
Love your Batman analogy! Money really is a true superhero when it comes to providing assistance to all who needs it! It’s also a great contributor when it comes to improving our own lives where we are on a mission to achieve FIRE so we can ditch our 9-5 jobs. Great blog by the way! – Mrs. FE
MMD says
Thanks Mrs FE, and welcome to the site!
Jamie says
Agreed. Different superhero handles money in their own way. I think we can be like them in terms of how we handle money and we can be great at this as handling money doesn’t require special power, but a skill that is learnable and something we can be good at.
Mike says
I enjoyed this more than the latest batman vs superman – great post ! I would look at personal tax planning too, I wonder what batmans accountant was like!
MMD says
Thanks, and I’m glad you enjoyed it. I’m sure Batman’s accountant had to know something was up! Random trips to exotic villain lairs and expensive Bat-mobile repairs have got to really add up.
ARB says
Batman is too paranoid to hire an accountant. He does his own. While brooding.
Sincerely,
ARB–Angry Retail Banker