David Bach
๐ค SpeakerAppearances Over Time
Podcast Appearances
And I can give you a whole formula today on how to do that.
Okay, so the first thing I would say is your mission in life should be, three words, to pay yourself back.
first.
And the beauty of this, what I teach is this is the truth in every single country.
It doesn't matter what country you're in, you should pay yourself first.
When you earn a paycheck, the first person who gets paid is you.
When you have your own business, the first person who gets paid is you.
It's profit first.
Now, what is the formula?
The formula to how ordinary people all over the world, especially in America, have built
real wealth and become millionaires.
We have 24 million millionaires in the U.S.
right now.
I'm not quite sure how many there are in Australia, but these 24 million millionaires have been created roughly in the last 50 years.
Since I wrote The Automatic Millionaire 20 years ago, there's been 16 million more millionaires.
What did they do to become millionaires?
On average, they saved one hour a day of their income.
They paid themselves first the first hour a day of their income.
So I'll give you an example for somebody who has a job.
Most people go to work, they start work at nine o'clock and they work until five.