If only these people had saved, on a consistent basis, just a small percentage of their earnings and set it aside.

George Classon, in his marvelous book called "The Richest Man in Babylon" suggests that putting aside just "ten percent of what we earn and investing it", is enough to make for a comfortable retirement.

Let me ask you a question. Are you saving a percentage of what you earn or are you like most people who spend everything? Alarmingly, there are new statistics which suggest that most people, in fact, are spending more than what they earn. The latest studies are saying people are currently spending 104% of their income.

It sounds impossible, doesn't it? It's not! The advent of credit cards has led to spiraling debt. Multiple credit cards and "store" cards allow people to buy now and pay later. I call this "payment by the twelfth". I refer, of course to that famous Johnny Mathis song "The Twelfth of Never". Many use the "roundabout" system of using one credit card to pay for another and so on. This is a recipe for disaster.

I recommend you purchase "The Richest Man in Babylon" and study it. The information it contains can make a positive impact on the way you handle your finances. At least if you read the book and understand it you can make a conscious choice to ignore its wisdom. You are then in a position to decide whether you want to be rich or poor because you will have the knowledge.

There is no better time than right NOW to start becoming responsible with money and investing for your future. What you keep putting off today will eventually return to haunt you when you have a diminished capacity to do anything about it. In other words, the longer you leave it the more difficult it will become. You cannot work forever. Eventually, the day will come when you will either want to retire or you will be forced to retire.

Rich or poor - get the knowledge!

Related:

• Lessons Learned From Man Who Turned a $15,000 Into $3.3 Million

I know a man who turned a $15,000 trading account into $3.3 Million. It was an amazing stroke of luck. He even admits this.  "MARK, I am no fool. I know I was just plain lucky. I don't have magical system.......
 
• Everyone Wants Money Do You

Let me ask you a very simple question. Do you want money? Of course you do!  Everybody wants money. You might think my next question is even sillier, but I'll ask it anyway. Do you really want money.......
 
• Under Earning - The Secret Barrier To Wealth

Knowledge is power however, and often just naming our internal blockages can set us on the road to financial freedom. One of the most powerful steps you can take toward clarifying.....