Fast-lane success demands a well-tuned vehicle primed and prepared for the journey that awaits.
You are the vehicle to wealth.
You are mechanism for movement.
You are responsible for making the journey and the first step in taking charge of you, is to own you.
Surely you’ve heard “Pay yourself first,” a common Slow-lane declaration born from the classic 1926 book, The Richest Man in Babylon by George Clason. A good read, but fundamentally flawed.
If you aren’t familiar with “pay yourself first,” it’s a Slow-lane doctrine that urges you to save your money (pay yourself) before all else–food, gas, car payments, and other bills.
This supposedly forces the Slow-laner’s savings rate to accelerate their putrid wealth acceleration vehicle: compound interest via market investments.
The fact is, advising a Slow-laner to “pay yourself first” is like advising a quadriplegic to climb a flight of stairs.
It’s futilely fruitless.
If you have a job, examine your last paycheck.
Is your gross pay the same as your net pay?
It isn’t and for some, it may be as much as 35% less.
Additionally, pre-tax saving weapons such as 401(k)’s and IRA’s severely limit your contributions to infantile amounts where creating wealth on a pre-tax basis in a job becomes organizationally penal.
If your primary income source comes from a job, your ability to pay yourself first is paralyzed because the governments are paid first!
For “pay yourself first” to be legitimate, you truly need to pay yourself first in infinite amounts and the government last.
You must own your vehicle.