Many are quick to assume that the path to financial freedom has to be paved in different ways for different situations. Strategies for high earners are different from those making less is a common misguided notion. There are some non-negotiable building blocks that may seem so basic yet are all too commonly ignored.
“You have to make lots of money to get rich.” “I’ll be rich if I make lots of money.” These are perfect examples of statements so wrong yet still manage to exist. In reality it’s how much one manages to SAVE that counts. Imagine 2 people with very different spending habits. One is spendthrift and has little to show for his paycheck at the end of the month. The other is paying off a mortgage, invests in retirement and is even saving up for a vacation. It might not seem like a big deal in the sort term but consider their different positions a few years from now.
I mention this as one of my first points because I’m constantly reminded of it when speaking to some of my friends. Many are high performers in their industry with huge salaries to match. When the conversation turns to anything related to money, similar answers about how they are too busy to think about it come up. Closer investigation shows that they have very little to show for their hard work and big paychecks.
In contrast, many like myself have managed to reach financial freedom without ever having been paid a big amount. Understanding the art / science of getting rich and building wealth manages to beat a big salary almost all the time. It’s what I know to be true and what I used to create the lifestyle that I have today.
Boost Your Bank 