Quote:
Originally Posted by killer69
I recently read a good book "The Weathy Barber Returns" it was written by a Canadian Eh. it is an easy read (thats how i read the whole thing lol) and ALOT of practical advise in it ,20 bucks well spent.
his big deal is "PAY YOURSELF FIRST" not the easiest concept to wrap your head arround when the bills are piling up but it makes sence for sure.
I am a guilty of not putting enough away, but have made some realestate investments that will pay off soon and that then will open the door to catch up, Oh and there is this little thing I call SpeedTech.......  lol that seems to be at the top of the list.
I suggest everyone run out and buy the book. then let the wife read it, then your best friend, oh and make sure you rent it to them... lol |
One of my best friends lives up the street -- he and his wife have probably never grossed $125K per year -- and they both work full time.... He's 66 now... and here's the deal - HE PAID HIMSELF FIRST since he was about 20. His house is paid for - it's a nice small house, neat as a pin - perfect for 2 of them (no kids)... he has a brand new diesel F-250 (with roll up windows and cloth seats and zero chrome) and an Airstream -- paid for cash - he has a brand new car - paid cash.... He is without a doubt the most FRUGAL guy I know and I give him SERIOUS crap about that... I buy Snap-On he buys tools from the $1 bin.... I help him with his investments - and I'll tell you this guy qualifies for the book "The millionaire next door". And I'm so proud of him - because he's done all of this because he pays himself first.
When I met him 20+ years ago -- we were on a dock at the Grand Banks Rendezvous.... Yep -- he had a super nice little 32' GB (neat as a pin)... and no payments.
I still remember the day I popped his bubble -- his little 32' GB was super stingy on the fuel - according to him - at a burn rate of 3.5 gallons an hour - he made 7 knots.... my bigger 47' GB with TWIN turbo Cummins burned 11 GPH...and made 14 knots.... and he says to me -- after a trip from Seattle to Friday Harbor. "Man that big pig of yours cost you a fortune to run up here..." ME, being the figurer --- did some quicky math -- and said -- Dickie, You burned 30 gallons running up here.... I burned 55..... but I've been here since NOON!
