1 Quote, 1 Truth, 1 Action
“Do not save what is left after spending, but spend what is left after saving.”
— Warren Buffett
Millionaire Janitor
Ronald Read was a janitor and gas station attendant in Vermont. He lived as any normal person, although, probably below the living standards of you and me. He drove a used car, wore old clothes, and the story goes that he even patched up his shoes with duct tape. Nothing was especially spectacular about Ronald or his life, except that he lived a long one. In 2014, Ronald passed away at 92.
When he died, people were astonished to learn that he had $8 million saved. His wishes were to donate $4.8million to a hospital and $1.2 million to a library. The rest went to family and other important causes.
How did Ronald have so much money?
He did it through a lifetime of discipline:
- Living below his means
- Saving and Investing
- Long-term horizon
Nothing truly great happens overnight. But your tomorrow is based on the decisions you make today. Finally, the biggest factor in the size of your estate and lifetime of legacy is time. Nothing beats time.
Not the rate of return, not amount of money you start with. Time. When your decisions and finances compound consistently over a long period of time, massive gains happen. But you cannot do that without putting money away consistently.
Start Today
Create a plan to pay yourself first…and don’t steal from yourself.
RRII
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1 Quote, 1 Truth, 1 Action
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