Pay Yourself First: Save at least 10% of your income to build wealth.
GEORGE S. CLASON
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Today's readers, tomorrow's leaders. I explain handpicked books designed to transform you into leaders, C-level executives, and business moguls.
Discover timeless wisdom on wealth and success in "The Richest Man in Babylon." Learn key principles to build and manage your finances effectively.
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Pay Yourself First
The fundamental principle of wealth-building is to pay yourself first. This means:
- Save at least 10% of all income before paying other expenses
- This portion is sacred and must be saved regardless of other demands
- The 10% is not for spending but for ...
How you can invest in yourself
The foundation for every personal pursuit in life is to invest in yourself. It can take years. How you can do it:
- Learn to build something. If you can create something valuable with limited resources, you can create value.
- Learn a rare and valuable skill.
Paying for retirement
- Try to save at least 15% of your paycheck for retirement.
- If you're able to save more, open a Roth IRA. You'll pay taxes on your contributions now, but your earnings will accumulate tax-free.
- Even if you haven't saved anything for your retirement, there's still time to bui...
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