David Bach

And I will tell you, Mike, when you're in a room of people who are 50, 55 or 60, and you ask them,

what is the biggest regret they have in life they will tell you almost always they wish they had started saving and investing when they were younger so you have to decide to put yourself first then you can live off all the rest of the money there's something that happens

I mean, what you just said is music to my ears.

And what I've explained, because I spent my life as a teacher basically teaching these principles, the reason the government takes your taxes from you automatically is they know you won't save that money to pay your taxes.

So they take it from you before you can spend it.

The reason everyone else takes your money automatically, including your gym membership, right?

Everybody takes your money from you automatically because it's the way they know they can get it from you.

When you decide to pay yourself first automatically, and not everybody goes from zero to 10% of their income on day one.

But if you were to start paying yourself first, just 1% of your income a month automatically.

So let's say you make $100 and you're like, I'm going to save $1 every time I get paid, $1 out of 100 automatically.

It's going to get moved into a retirement account, my 401k plan at work, an IRA account, or even an emergency account.

I promise you, you won't notice it.

And if you increase it 1% a month for a year,

you will be saving three times what the average American saves because you'll be saving 12% by the end of the year.

And the other thing I'll tell you is that most people, if they go from 0% to 10% of their gross income, they're not saving anything.

And they listen to this podcast and they go, you know what?

I hear what he's saying.

I'm going to go do this.

I'm going to pay myself first, one hour a day of my income.

I'm going to take 12.5% right off the top, move it in my 401k plan.