David Bach is a Financial Icon for a reason. After he has made a discovery in his life; he makes a real simple strategy to “Paying Yourself First.” By this saying, he says you should put at least 10% and 15% of you savings before taxes in a 401 K or 403B retirement or wherever you work. Even if you are self-employed, you can do this also.
I read this in David Bach’s book Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age (Finish Rich Book Series). In his book, he also gives ideas about:
- Putting Money Aside for Retirement
- A Plan to Buy Real Estate.
- picking up an extra job or selling stuff.
- He talks about the idea of owning stocks.
- He discusses the idea of giving back after you gain all of that wealth.
- He even discusses on what to do with that money to have the feeling of joy in your life.
The fact is we need to start thinking about our dreams as he said in his book. We can’t what til retirement to live it. Even though we have our thoughts on waiting til we are old and gray, but life doesn’t work like that.
We need to think about the here and now. We need to think about what we are going to do in the present moment to enjoy life. We don’t want to think about what could have been. If we have a special passion. Why don’t we do something with it?
Maybe you’re a writer and you like to speak. It is now easier to live your dream without leaving home. Or maybe, you love to travel. Your life is up to you. For me, I have a job and I write, blog, and podcast on the side. That’s what I enjoy in life. Other people may have different passions.
But life is a two part step. You need your finances in order and you need your life in order. As I said in my podcast yesterday, which can be found at spreaker.com, I was talking about the fact that many of us don’t have a blueprint for life and many of are lost in the direction we go in life, but through hard work and studying many of us find our way.
Life is like this we find bits and pieces of what we are going to do and we do it. It was said, “If you do what you love, the money will follow.” As David Bach says, do what brings you joy in life. Joy is the only thing that keeps you going. If you are doing something that you are miserable at, don’t quit right away, but do something that you really want to do in life and don’t forget to “Pay Yourself First.”
Sources- Jeff Sheldon