What is the “Golden Rule of Investing”?
“Think of all money you earn as a Potential source of Future Income”
Don’t think in terms of how much money you have or have saved but rather how much money you can generate from what you have.
In other words, when you receive your pay check, of course you have to pay your bills. And some bills you will always have – electric, water, gas, phone, mortgage but those that you don’t is where you can get the money to finance your future. A great example is your car. A lot of people buy a car – and of course they buy into the marketing that owning that luxury or high priced sports car is more fulfilling somehow. But what you need to consider how much future income did you give up for that little bit of prestige you got from…
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