Your earning allocation
- 10% of your earnings (before taxes) for savings to be invested.
- 20% to pay off debts, slowly, but steadily. If no debts, it goes to savings. (This is also the amount before taxes)
- The remaining 70% is used to live your life how you like. (Taxes being taken from this section)
Of your investments, do not trust a novice with something he knows nothing about.
Trust someone who DOES know what they’re doing.
Wealth is not finite. As one gains wealth and then spends that wealth, it goes back to the people who did the work, then they can do with as they please with their own well-earned money. Whether they choose to save or spend is their own choice.
If you can only save 10% save that if you can save more without hurting yourself do so.
7 Cures for a lean purse.
Cure 1: for every 10 coins you put into your purse, take out for your own use only 9.
Cure 2: Budget
Cure 3: put each coin to laboring that it may reproduce it’s kind regardless of what you do, and it will generate a constant stream of income I to your purse. (Aka, invest.)
Cure 4: guard your treasure from loss by only investing where you know your treasure is safe, where it may be reclaimed if desireable, where you will not fail to collect a fair rental. Consult with wise men. Consult the advice of those experienced in the profitable handling of gold. Let their wisdom protect your treasure from unsafe investments.
Cure 5: Own your own home.
Cure 6: provide in advance for the needs of your growing age, and the protection of your family.
Cure 7: Cultivate your own powers.
Study and become wiser. Become more skillful. So act as to respect yourself.
Luck
Rarely does luck come out of nowhere! Most often it is a matter of using your intelligence to know a good deal from a bad deal. Do not procrastinate if you believe it, with your well-earned knowledge to be a good deal. Saying no may well lead to much regret if you are too fearful or simply being lazy. Do what you know you need to do
The 5 Laws of Gold
- 1: Gold comes gladly and in increasing quantity to any man who will put by not less than one tenth of his earnings for his future and that of his family. (Save at least 1/10 of your earnings)
- 2: Gold labors diligently and contentedly for the wise owner who finds for it profitable employment, multiplying like the flocks of the field. (Invest properly and it will grow)
- 3: Gold clings to the protection of the cautious owner who invests it under the advice of men wise in it’s handling. (Learn from those who know what they’re doing)
- 4: Gold slips away from the man who invests it in businesses or purposes with which he is not familiar or are not approved by those skilled in it’s keep. (You’ll lose it if you don’t know what you’re doing and if you don’t seek advice from those more knowledgeable.)
- 5: Gold flees the man who would force it to impossible earnings or who follow the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment. (Trying to obtain too much too soon, often leads to loosing everything. Be it because you were too eager or listened to lies.)
