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