QUESTION: I want to become a success and I’m willing to put in the time to make it happen. My problem is that I like to spend money and although I work hard, I’m usually broke. Sir, can you advise me, please?
ANSWER: The average person works 40 hours per week. Are you willing to work 50 hours per week? There is nothing complicated to figure out; you work two extra hours per day or work an extra day each week. You work the first 40 hours to pay your bills and the next ten hours to raise investment capital. Make the choice.
Like you, the average person scrimps by in life making a dollar and immediately spending it. Are you willing to delay gratification, save, invest and be a successful investor? Only you can make this choice.
If you spend all the money you earn, whether that’s $30,000 a year or $300,000 a year, you will always be nervous about money and always scrambling to pay your bills.
However, if you earn more than you spend and you save and invest, you will have chosen to put yourself on the path of economic security. If you discipline yourself to invest 20 percent of your income, you will become financially independent. This is not wishful thinking. This is math.
You know where you want to end up. You know where you don’t want to end up. Your life is defined by your choices. Make the choice.
