• Eric Bowie

Saving Your Money Is More Important Than Your Salary

IT’S ALL ABOUT WHAT YOU SAVE, NOT WHAT YOU MAKE

The amount of money you keep, invest, and grow, is more important than your salary. Your salary doesn't drive your ability to become wealthy, and you can't pass along your salary to future generations. But you can hand down what you keep. Your wealth is driven by how well you learn to live below your means, your de-commitment to hyper consumerism, how well you are able to avoid debt like the plague, and your willingness to invest in things that go up in value (i.e. your businesses, your stocks, your real estate, etc).

Your salary and what you bring home in a paycheck can have somewhat of an impact on what you are able to save and invest. However, we pay too close attention to the wrong side of the equation. We spend so much time and energy worrying about what we take make and take home, but who really cares if you make $100K a year if you go out and spend your entire $100K each year? You essentially have nothing when it’s all said and don.e If you make $50K per year and you save and invest $10K per year, then after about 5 years you are much further ahead then that person that makes $100K and spend all of their $100K.

What we have to think about is future generations and wealth building. We have to get away from this notion that our destiny is tied to how much fun, leisure and bling we can accumulate while we are here. What are you leaving your children? What are you leaving your grandchildren? Your families future has nothing to gain from your high salary, but has everything to gain for what you actually leave behind. Not to mention, your future stands to benefit greatly from what you are able to save. When you die, your salary dies along with you. However, when you die, your monies that you've invested, are then allowed to work for the loved ones left behind.

Your salary is important and nice to have as much of it as you can get. I'm not saying salary means nothing, because it does. But you have to leave a legacy, and your legacy shouldn't be simply how nice you were, how much fun you were, and how funny you were. Those things are nice, but leave something for your loved ones. Land, money, investments, and other tangible things that can help tthose that come behind you, MATTER!!!

So while you are so focused on your salary, turn the corner and start caring more about what you are saving and investing. YOUR SALARY IS FOR YOUR DAILY LIVING, BUT YOUR SAVINGS AND INVESTMENTS ARE FOR YOUR FUTURE, YOUR CHILDREN'S FUTURE, AND YOUR GRANDCHILDREN'S FUTURE.

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