On a regular basis, I talk about paying yourself first. I discuss it in my book, The Confident Investor, and I have mentioned it on my site multiple times. I was very impressed with Philip Taylor and his article on the subject. What he said was 100% accurate and everyone should follow his advice.
He points out that paying yourself first is essential for doing the following:
- Want to get out of debt?
- Want to have an emergency fund?
- Want to have money to set aside for a down payment or a vacation?
- Want to afford retirement one day?
- Want to give your kids some money for college?
I personally think that just paying yourself first is not enough to retire comfortably. You need to have a plan that increases that savings faster than the market grows. That is where my book, The Confident Investor, teaches you to grow that savings. You can purchase my book wherever books are sold such as Amazon, Barnes and Noble, and Books A Million. It is available in e-book formats for Nook, Kindle, and iPad.
Jump over and read Mr. Taylor’s advice. Start paying yourself first so that you can start investing. After you have developed a bit of a nest egg, you can start investing by following the advice of my book.