To follow, without halt, one aim: There’s the secret of success. – Anna Pavlova
To save, without stopping, one goal: There’s the secret of building wealth. – Miriam Joy, Founder of Greenbacks Magnet
You are about to receive a gift.
From me to you.
I am going to give you the secret to untold riches beyond your wildest dreams and I will give it to you for free.
You will learn how to amass a fortune so great that no man can measure its vastness.
I’ve got a secret. Shhh. But I’ll tell you. Come closer.
I’ll give you the secret to how I became a savings wildcat.
I pick a number, say $10k, divide it by 12, and save that amount monthly.
How you ask? I automate it.
The End.
Smooches 💋
What will this secret cost you? Nothing. Therefore, you will not have to sell your soul to get access to it.
What am I talking about? Saving money.
That is the Skelton key of building wealth. You save a portion of every dollar you earn. Then you invest it.
Investing is the equivalent of being paid royalties as an actor, musician, or author.
HERE. WE. GO.
WHAT IS A SKELTON KEY?
A skeleton key is a type of master key in which it is designed in a way so that it can fit and open numerous locks.
The term derives from the fact that the key has been reduced to its essential parts.
Saving money unlocks all the doors to everything you have ever wanted.
Have you ever wanted anything, but could not find a way to get it?
Saving money will solve that problem for you.
See my post How Millennial Money Inspired Me To Start Saving $13,333.06 A Year
My recommendation is this:
Women save $0.50 of every dollar you earn.
Men save $0.40 of every dollar you earn.
Why the difference? Because women earn on average $0.80 for every dollar a man earns.
Therefore, men have to save less and women have to save more in order to reach the same goal of fill in the blank $ dollar amount here.
WHY IS SAVING SO CRUCIAL?
No one can arrive from being talented alone, work transforms talent into genius. – Anna Pavlov
All wealth building starts with saving.
Don’t let anyone tell you any different.
Sure you may have to invest and diversify your money such as investing in stocks, real estate, and bonds, but you have to save money FIRST before you can buy or invest in anything.
If you have ever read a Jane Austen or Charles Dickens novel, then you know the theme always comes around to money.
See my post A Christmas Carol: Lessons In Finance, Business, And Life
Considering that Jane Austen never married and Charles Dickens grew up in a poor house, it is not surprising that the authors chose to hone in on this topic.
The sorted topic of coin. Both authors are British and in that society they have a class system.
You are either born into wealth and inherit it or you must work for many years and earn your fortune.
Many of the landed gentry lived off of their land. Profits that were made from owning land was how they made a living.
That monthly sum could be the difference between prosperity and being locked away in poor houses, which were a form of jail for the poor.
Here in America, we do not have a class system of royalty, nobility, tradesmen, shop keepers and owners, or farmers.
However, we do have a social ranking and social class. Those are the haves and the have nots.
If you want to find yourself in the realm of having, then you best start saving money for your future today.
Many years ago, I was laughed at for my paltry savings amount of 9% per year.
Now I am saving over 40% of my income.
No one laughs at me now.
HOW SAVING MONEY CAN MAKE YOU HEALTHIER
They say wealth equals health. And that is an understatement if I ever heard one.
Having money allows you to pay for all of your needs.
This includes doctor visits, healthy food, and medicine.
See my post Why America Doesn’t Have Free Universal Healthcare And A Look At Those Who Do
Even something so simple as reading glasses can get pricey. I once saw a pair of Oakley glasses for $300.
You want organic fruit and meat? Well that costs.
Eating well not only affects your waistline, but also your brain functions.
It is said that children that do not get the proper rest, nutrition or eat breakfast before school perform lower on tests and have harder times concentrating.
See my posts Wealth Really Does Equal Health
HOW SAVING MONEY CAN MAKE YOU HAPPIER
Success depends in a very large measure upon individual initiative and exertion, and cannot be achieved except by a dint of hard work. – Anna Pavlov, Prima Ballerina
When you have the means to pay your bills, eat, and work in good health; then you are fortunate indeed to be able to pay your own way.
Being able to afford your monthly nut just makes you happier overall.
You are protected from the pitfalls of many of life’s hiccups.
Money offers protection.
See my posts
Dwayne Johnson: The Rock Solid Way And The Fast And The Furious Way To Make Millions
5 Wealthy Nuggets Of Wisdom From The Count Of Monte Cristo
Halle Berry On Success And Failure: Why She And I Continue To Save So Much
Money Lessons I Learned From Jay Leno
Money Advice I Got From John Legend
Money And Greek Myths: Lessons From Clash of The Titans
You can get just as much pleasure saving as you can from spending.
I seem just as happy being able to have the ability to afford items than am to actually purchase them.
It is a great feeling to payoff debt. Every check you write frees you from obligation to lenders. Then your money can stop serving THEM and start serving YOU.
Make a goal to write down evet single bill you have and person you owe.
I started doing this and tackling every debt I had one by one.
Once I paid of my car, I owed $30,000 and my personal loan, I owed $20,000, then things started really taking off from there.
I was able to take these monthly payments, $450 and $333 respectively, and start investing that money. Now that money works for me in the stock market.
Here is one stock I recommend: VFINX or VFIAX. (You can also invest in the VTSAX or any equivalent)
Portfolio composition of VFIAX
Month-end 10 largest holdings
(22.40% of total net assets) as of 03/31/2019
| 1 | Microsoft Corp. |
| 2 | Apple Inc. |
| 3 | Amazon.com Inc. |
| 4 | Alphabet Inc. |
| 5 | Facebook Inc. |
| 6 | Berkshire Hathaway Inc. |
| 7 | Johnson & Johnson |
| 8 | Exxon Mobil Corp. |
| 9 | JPMorgan Chase & Co. |
| 10 | Visa Inc. |
Whatever you do just make sure you not just SPEND money but SAVE money.