Savings

I got this offline and will hold it near and dear to my heart. It concerns how much of your paycheck should go towards savings (what percentage).

* If you strive to be DEAD BROKE: Then you should spend more than you earn

* If you strive to be POOR: Then you should spend everything you make, and always talk of saving “some day”

* If you strive to be MIDDLE CLASS: Then you should pay yourself 5 - 10% gross income

* If you strive to be UPPER MIDDLE CLASS: Then you should pay yourself 10 -15%

* If you strive to be RICH: Then you should pay yourself 15 - 20 %

* If you strive to be RICH ENOUGH TO RETIRE EARLY: Then you should pay yourself greater than 20%