We need our ship to actually sail us to where we want it to go; the thing is, ships aren't free!
So the goal for today's episode then is for you to be inspired to see how much you're currently saving towards you, towards yourself and if needed or possible, increase it so you can be on a faster pace to reach those goals. (01:33)
So how much should you pay yourself every month? "How much am I worth?" I'd say the minimum is 5% of your gross income. (02:39)
So what this says is that 36% of your gross monthly income, so before taxes, can be used for items specifically to you. (03:40)
Quote for the episode: "Pay towards you first, because you're important!" (06:14)
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Accidents will happen in life so captain your ship or at least hire one!
"Yes", he replied, "the boat went past me first on its way towards you." "You were lucky it missed you. I wasn't so lucky." "Well," said the newcomer, "I saw that it might hit me so I moved out of the way." (01:51)
"Little by little, a little becomes a lot...plus compounding interest!" - paraphrasing a Tanzanian proverb
You get your first 401(k) statement that you threw a couple pebbles into and it essentially says you know, "well thanks for playing, but you still have pretty much nothing", right?...