Lesson One

Starting today, save at least ten percent of everything you earn

What can 10% of your wages become?

– assume a 5.5% return per year and 0.25% MER (see later lessons)

Monthly Deposit Value in 10 Years Value in 20 Years Value in 30 Years
$10 $1,581 $4,250 $8,756
$100 $15,807 $42,496 $87,563
$1,000 $158,065 $424,963 $875,626

Apply this 10% rule to bonuses, extra shifts, raises, tips, another job…everything you make.

  • If you earn $100, save $10.
  • If you earn $1,000, save $100.
  • If you earn $10,000, save $1,000.

If you can save more than 10%, do it!

The sooner you start saving, the sooner you can reach financial independence.

License

From Wages to Riches Copyright © 2020 by Nancy O'Hare. All Rights Reserved.