'Money saved in 10 years produces financial freedom': interview with author David Parker
Income and Wealth is the David Parker's book
In your book you expose how – even with a minimum wage – it is possible to put money aside. How is it possible?
By making it a must, even
if it means living a spartan lifestyle, it’s possible for anyone to save 50
percent of their annual income and put that amount into revenue-producing
assets, such as residential real estate. It helps if one’s spouse or even a
roommate participates in this aggressive savings campaign, but even a person
holding a minimum wage job can do this. I suggest doing this as soon as
possible, as it’s often easier for young people, right after college
graduation, to find the discipline to do this. It may be hard to resist
spending money on all the tempting things that discretionary income can buy,
but if you can maintain this saving-and-investing plan for ten years, the money
generated by your investments will start producing one of life’s most desirable
qualities – financial freedom!
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