Financially Wise People Stay the Course

Financially Wise People Stay

If you put $10,000 into an account and left it to grow for 40 years, assuming an average return per year of 8%, you would end up with over $217,000. But if you procrastinated 10 years, you would need to begin with $20,000 — twice as much — to barely get close to that same result.

Is it enough to just know that fact? Though we may all recognize that saving today is better than waiting until tomorrow, action is the key component. Wealthy people make lifetime saving a priority – they are disciplined to stay the course. They don’t give into temptations as an excuse to forgo saving to purchase a new car or a second home – the purchase waits. The saving habit of wealthy people is a commitment and it is never a second priority no matter what the situation.

So should you start small? That’s better than not saving at all … but if you want to be rich, you have to save like you mean it. And that means contributing the maximum amount to your 401(k) and then saving even more. You may have heard the advice to always save 10% of your income. That is good advice. Unfortunately, it is rarely done by the masses. Creating wealth is a habit that starts young and doesn’t quit.

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Courtesy Of
Doretta Thomas
Transamerica Agency Network
(602) 275-2471 office

doretta.thomas@yahoo.com

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About Mastering You

"Mastering You, leads you to Understanding, Developing and Using the Master in You" Mr. Toliver teaches the "Process of Manifestation" as a vehicle that will allow people to master their inner self, through his book series called, "Mastering You". Having worked for more than 30 years as a social worker and as an entrepreneur he combines life experiences of overcoming depression, attempted suicides, managing additions, loss of friends from 9/11, his near death experiences and wraps them all up into talks that leaves every group spellbound. Connecting with his audiences through his animated, motivational and inspirational talks that are guaranteed to reach every group at every level. The process of manifestation focuses on honoring God and changing our thinking to gain success. Mr. Toliver teaches everyone how to overcome life's obstacles which clears a path to getting the things you want.
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One Response to Financially Wise People Stay the Course

  1. Rashida C says:

    This is sound advice and I am on my way to saving more and more. My company matches our 403b and I’m trying to save on my own on the side but with my salary and my bills it’s a little complicated but I feel if I find a number that I can stick to too continuously deposit in my savings account I will be a lot better off for my future. Thanks !

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