Million-Dollar Choices


By Brandon Harvey

Everyone can make one decision resulting in millions of dollars, according to Scott Marsh, the owner of Scott Marsh Financial and professor of finance at Brigham Young University.

Hundreds of people from around the country came to listen to Marsh during Education Week as he enthusiastically laid out how to make simple investments with money they are currently spending on needless things.

Marsh evaluated the finances of someone who smoked three packs a day for 46 years. If the money spent on cigarettes was invested in a bank account earning 4.2% interest, they would have accumulated $100,000. However, if that same person followed the financial advice that Marsh outlined, they would have 10.5 million dollars.

This drastic increase in savings is the result of what Marsh calls the million-dollar choice. The million-dollar choice is hard to sum up in one sentence because it is a lifestyle. Marsh said he teaches his college students about million-dollar choices by having them read “The Millionaire Next Door” by Thomas J. Stanley.

One of the many ways to start making million-dollar choices is to put savings in a 401K. According to Marsh, over 80% of all people who have money saved, have it in a 401K. Marsh said it is important to have your money somewhere you cannot touch it and a 401K is a perfect place for that. He argues if savings in a place that is easy to access, it will be used during times it shouldn’t.

For homework, Marsh invited everyone to visit the BYUtv’s online site so they can further develop an understanding of the benefits associated with a 401K.

“There are a lot of stupid things to spend money on,” said Marsh.

In order to avoid spending money on “stupid things” and have financial security in the future, Marsh outlined many money saving techniques. Some of the advice Marsh gave can be found on his website (

According to Marsh some of the most important financial advice is found in the Book of Mormon, “Wherefore, do not spend money for that which is of no worth, nor your labor for that which cannot satisfy.”

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