| Well known political commentator and Fox News | | | | is that the mentality of the type of these |
| talk show anchor and host, Bill Oreilly | | | | people is that they spend a great part of |
| plainly states that the reason behind his | | | | their working day planning and further |
| success in life, is his father's adage | | | | scheming while thinking at "how smart they |
| "Whatever you make take off 15 % for | | | | are". A real good use of assets, time and |
| yourself." Bill states that this was "his | | | | energy. |
| tax". Oreilly stated that as a result of the | | | | |
| basis of this savings I could make decisions | | | | However on the other hand there are people |
| and get ahead where others could not. | | | | who although they earn a nominal income, save |
| | | | part of their wealth and are on the way to |
| A person without savings is nothing. He or | | | | true wealth and personal independence. The |
| she can not be independent either in their | | | | secret. Whenever they got paid they "paid |
| decisions, their employment choices or in | | | | themselves first". |
| dealing with their boss, their investments as | | | | |
| well as investment choices and decisions and | | | | The financial secret is like Bill Oreilly's |
| ultimately of their whole life. | | | | father's adage. Save a portion - simply 10 or |
| | | | 15 % of the net payment first and foremost. |
| Pay yourself first. Well known economist R. | | | | Nothing complex about this. People live off |
| Z, Stern states "I ask my kids not what did | | | | what they earn generally. The money is gone. |
| you earn but rather how much did you save." | | | | Not there to spend (at the moment). Then let |
| Ultimately it is not what you earn that | | | | the power of compound interest kick in. |
| counts it is what you keep for yourself. It | | | | |
| would astonish you and your family at how | | | | These people who "pay themselves first "are |
| many times in life you will come across | | | | far ahead. It is simple. All they had to do |
| individual people who have the appearances of | | | | was easy and painless and arrange for their |
| wealth - but in the end it is just simply an | | | | bank or credit institution to take pre |
| appearance with nothing of substance. In | | | | arranged payments (P.A.C.).from their bank or |
| reality these people may have next to | | | | checking account on a regular monthly, weekly |
| nothing. Poor as church mice in any assets or | | | | or bi-weekly basis. What you don't have you |
| savings. They may be earning big incomes but | | | | don't spend. Why pay a monthly installment |
| are being taxed big income and property | | | | for some item, where you are charged regular |
| taxes. Whatever they are taking home | | | | interest and credit fees? Why not do the |
| disappears like melting snow on a hot summer | | | | reverse and "pay yourself". |
| day, Big time payments on obvious flashy | | | | |
| asserts such as the Lexus, Plasma TVs, luxury | | | | In then end you will promptly and over the |
| dinners and vacations. Although these people | | | | long term see your financial lot and personal |
| own things and have "owned" properties and | | | | independence improving. On top of that the |
| assets, they were actually decreasing the | | | | powers of compound interest will kick and |
| value of these assets as they were paying for | | | | accelerate growth of your savings - your |
| them. All a poor example of appearances, | | | | financial "nest egg". This is true |
| deception and plain foolishness. | | | | independence both in financial and personal |
| | | | terms. |
| The amazing part of this real life scenario | | | | |