Secrets of the Millionaire Mind
Saving and Investing
Lastly, most people, as well as businesses, have trouble saving. Many live on a day-to-day basis, and they could not afford to stop working a year and maintain their lifestyle or business. The rich, on the other hand, create investments that allow them to have residual income. That is, the rich generate sources of income that continue to give them resources without having to work and companies that operate without the need of the owner.
To generate these types of sources of income it is important that each dollar is considered as a seed that can be planted to have a money tree. The first step is to learn to save and invest. Eker suggests that income be divided as follows:
10% Investment savings: money that can only be invested and should not be spent on anything other than investment.
10% Game savings: money saved exclusively to spend on travel, games, and luxuries that we want to give.
10% Temporary savings: money that people would normally save for any eventualities like medical expenses, emergencies, and so on.
10% Education: money saved to invest in the education of one and their children. Pensions, university, classes, seminars, books, museums and everything that concerns mind feeding.
10% Donations, Help, and Charity: This money is used for social work, helps your family, friends.
50% Daily Living: money with which you should comfortably be able to pay all family expenses.
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