All of us work and work very hard to have those things we cherish most. As you move up the income scale, pay your future self first...
Great Job in Earning More! Cause for Celebrations, Right?
Maybe, but not if you're celebrating involves that new fancy car or moving into a larger more expensive house or going all out for a night out. If you are always spending what you earn, you will never build wealth and be able to do those things you really want to do.
As both your salary and household income climbs, hold your spending flat. This is how you will accelerate your savings rate, strengthen your investment portfolios, and build wealth. Do not let lifestyle inflation creep in.
Live Below your Means
Each time I speak with a financially independent family, this attribute is the key to their success. We've all heard it, "Live below your means."
You received your hard earned raise, save 50% for your future self and enjoy the rest.
Signed your first big client, save 50% for your future self and enjoy the rest.
Completed that first first fix-and-flip, save 40% for your future self, 30% to the business, and 30% to enjoy.
Continuously paying your future self first and watch as your investments create financial freedom. It's how so many successful clients do it and it’s how you can do the same.
K Wealth Advisors
Are you saving enough for your Future Self or looking for guidance to save more, reach out to K Wealth Advisors. #KWA