Millionaire Calculator: Here’s How Much To Save Every Day To Be A Millionaire.
Bach admits he didn't think he could pay himself first.
"When I first heard about this concept I was doing what most people do — trying to budget, beating up on myself for failing, and then scrambling at the end of the year to find some money to put in my retirement and savings accounts, only to find another year had come and gone and I had not made any financial progress," he writes in his book.
He says he didn't start paying himself the 20% off every paycheque.
"I was in my mid-twenties, and I wanted to make sure it didn't hurt," he reveals. "Within three months, I realized that 1% was easy, so I increased the amount to 3%."
From there he moved to 5%, 10%, and 15%, until he made it to 20%.
It was easier to make the progression by starting small.
Bach is confident everyone is capable of paying themselves, regardless of income.
"If you are not paying yourself first now, that's probably because you think you can't afford to," he says.
The best-selling author recommends you write your goals down.
"Make your goals specific, detailed, and with a finish line," he recommends.
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