BestSteps® Home Page HELP
BECOME A MEMBER LOGIN Tell us what you think!
Success
BestSteps® Home Page
SEARCH: Find Keyword(s)

only in "Success"

Advanced Search
Related beststeps®
Three Factors for Financial Success
The Definition of Wealth
The Key to Self-Promotion
Think Like a Millionaire
The Law of Investing

Brian Tracy
A leading authority on the development of human potential and personal effectiveness, Brian Tracy is a dynamic speaker with a wonderful ability to inform and inspire audiences. He is the president of the Institute for Executive Development and was formerly the president of a major development company. The author of numerous books and other materials aimed at helping people perform at their peak and achieve their full potential, Tracy has shared his winning insights with thousands of people throughout the world.
  The Key to Riches   #760
Listen to this beststep listen! (mp3)

Here is some great news. Wherever you are in your financial life, you can become wealthy over the course of your working lifetime. If you start early enough, work hard enough and do what other successful people do, you may even become a millionaire.




In 1900, there were fewer than 5,000 millionaires in the United States. Today, there are more than 5,000,000 millionaires, and the number is growing rapidly. There are more than 200 billionaires as well, and that number is increasing.

Most of these wealthy people are self-made. That is, they started with nothing, and they earned every penny by applying their talents and abilities to the opportunities that came along. The number of millionaires is growing at the rate of 15 percent or more per year. Someone, somewhere becomes a millionaire every three to four minutes. And what these other self-made millionaires have done, you can do as well.

The wealthy are not very different from you and me. They have simply used more of their God-given talents and done things in a different way from the majority. The wonderful thing is this — and I cannot repeat it often enough. If you do what other successful, wealthy people do, you will eventually get the same results. You can start right where you are, even deeply in debt, and achieve financial independence if you do the right things over and over again until you get the results you desire.

If you save $100 per month from the age of 21 to the age of 65, and it grows at a compound rate of 10 percent per year, you will have more than $1 million when you retire.

If you earn $25,000 per year and save just 10 percent of your income ($2,500 per year), and invest it carefully so that you earn 10 percent compounded over the course of your working lifetime, you will be worth $1,794,762 through the miracle of compound interest.

The key to riches is simple: Save and invest 10 percent of your income throughout your working lifetime, and you will become rich. It is as simple as that.

Now, here are two things you can do to set yourself onto the high road to financial independence.

First, make a decision today that you are going to save 10 percent of your income for the rest of your working lifetime. Set it as a goal, make a plan and then discipline yourself to save that amount for the rest of your career.

Second, go to the bank today and open a special account for financial independence. Deposit whatever amount you can in that account. From now on, think every day about how you can put more money into that account, and then invest it wisely. This will change your entire financial life.


Other BestSteps® You Might Enjoy
Three Factors for Financial Success
The Definition of Wealth
The Key to Self-Promotion
Think Like a Millionaire
The Law of Investing
 
HOMEBecome A SubscriberFeedbackMember Programs
HELP!Contact UsPrivacy StatementCopyright Statements
Copyright © 1999-2005 TrueYou.com Inc. Pat. Pending 1908203ps9tk [1] 35.175.200.4