The recent YouTube phenomenon: The Last Lecture by Randy Pausch has spawned a book, countless childhood dreams and inspired over 6 million viewers. This left me thinking, what if I only had one last post to blog about, what will I tell you?If I were to die tomorrow, what is the one piece of financial tidbit that must be passed on?
Well I thought of blogging about all the investment basics, or all the insurance 101 or even how to get the best discounts but the answer was much simpler than all of that. If this were my last post, it would only consist of one word: SAVE.
It is the worst kept secret on getting rich. SAVE. It does not matter how much you earn or how good you are at investing, if you do not save you will NEVER be rich.
As my partner-in-blog has emphasized in a previous post, savings is about paying yourself first before you pay Sony for that new HD-ready LCD.
Most self-help books talk about saving 20% of your income and NEVER touch it except to invest it. Then set aside another 20% to splurge and reward yourself so that you feel good and will not go on uncontrolled spending sprees. I personally feel that this is an awesome piece of advice, one Investment account and one Indulgence account will guarantee that you get richer and richer.
That being said, The Last Lecture is very inspiring and I urge all of you to watch it and dare to dream.
PS. You haven't seen the last of me yet.
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