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