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Pay Yourself First and Secure Financial Freedom

Updated: Dec 15, 2023


Pay Yourself First and Secure Financial Freedom

Have you ever heard the saying, “Pay yourself first, NOT last!”

I've heard this advice for years and I’m pretty sure you have too! That specific phrase, or maybe one of these similar ones:

• Take 10 percent of each paycheck and store it somewhere safe! • Don't pay any bills or expenses until you pay yourself first! • The wealthy pay themselves first, the poor pay themselves last!

Isn’t it interesting that most people don’t save at all much less enough for their future. But, what's even more shocking is that from the people who do save, many have no clue if their money will last them the rest of their lives. In fact, it is a big concern for many of my clients when they first come to me. Even if they make a lot of money and have been paying themselves first. They are still not sure if it will last. If it is enough. And unfortunately, most of the time, it is not. They’ve paid themselves first, they’ve saved, but they put their money in the wrong things…


Turning Savings into Financial Freedom

Why?

Because most people are not getting all the facts. They only know the “pay yourself first” part. So they pay themselves, and with that money buy liabilities. They look pretty cool driving all the high-end cars and living in big homes. I’m not saying it’s wrong to buy any of these “things.” In fact, you can have everything you want without ever having to worry about money if you just learn how to “spend” aka put SOME of that money to work for you!


Unveiling the Power of Cash Flow

What does that really mean???

Simply put, it is focusing on putting money into places that will pay you for the rest of your life, starting now!! Cash Flow Rocks!

Obviously, it makes complete sense to pay yourself first each month, right?

If you're not doing that, then the best time to start is today.

Even if it is only 1 percent of your monthly take home.

It's better to start with something and get in the HABIT of doing it.


Cultivating the Habit for Lifelong Cash Flow

It is important to focus on putting that money in *private assets that you control. When I say private, I just mean--- not wall street!

Assets that provide you with cash flow for life. Now that's what I'm talking about!

The key is to focus on making sure you get paid "first" for the rest of your life. This way, you can have peace of mind and you will never run out of moolah. And you can travel, visit the family, and do whatever the heck you want. Without the constant worry of whether or not you will need to go back to work.


Crafting a Legacy of Cash Flow

Instead of only paying yourself first...and putting it in the wrong places... you may not have it last for the rest of your life.

For example, in my case...I make sure to save each month and instead of putting into a bank account or all into a 401k, I put it in places that create immediate cash flow not just for the future! Places that will provide me with lifetime cash flow. An example of these type of places is private lending and another is multi-family real estate.

For you, it might be something else.

Just know that accumulating a pile of money in your 401k or in the bank doesn't always guarantee you're going to create enough cash flow for life.

Instead, I focus on building cash-flow producing assets that can and will pay me for life.


Discover the Power of Lasting Cash Flow

If you want to learn more about how to spend your money in a way that creates more cash flow, the kind that can pay you for life, Reach out and schedule a time for us to chat.


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