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Pay Yourself First

It is a common misconception that to save a lot of money you have to make a lot of money. In reality, acquiring a substantial sum of money requires only two things:

Time

The discipline to consistently work toward a goal.

Every month you should pay yourself a set amount of money and deposit it into a long term retirement account.

Look at the following examples:

$1,000. deposited only once and earning an average of 10% per year for 50 years equals $117,000.

Only $10 per month for 50 years at 12% equals $300,000.

$1.00 per day at 10% per year for 50 years amounts to $524,000.

These are just examples of what investing early and often can do for your bank account.

This deposit/investment you make should be automatically taken from your paycheck, savings or checking account. Statistics show that 85% of the people do not make the monthly payments on their own, therefore due to lack of discipline they lose their retirement money.

It never seems like you have the money to invest but you always have money for cable TV, eating out, clothes, entertainment and other non-necessities. You are important

don't you think????? You should come first. So, pay yourself first before the vultures get after your money.

Consider putting your new money into a ROTH IRA. This account will allow you to build money for retirement tax-deferred and the gains will also be TAX FREE upon withdrawal. Yes, I said TAX FREE !!!!!! If you have questions on ROTH IRAs please contact my office. I will mail information to you ASAP.