A long-standing key to wealth is the idea to “pay yourself first.”
“Pay yourself first” was first coined by George Samuel Clason in the 1920s. Clason was a successful entrepreneur who wanted to share his secrets of wealth by distributing a series of pamphlets that delivered nuggets of financial wisdom through parables set in ancient Babylon – once the richest city in the world.
Would you pay your mechanic if he didn’t fix the faulty alternator in your car? Then why are you paying for financial advice?
Financial advisors get paid whether you make money or not. If you make a profit or if you lose money they get paid. That doesn’t sound fair.
Everybody wishes they had the power to predict the future – especially when it comes to the markets. If they could, they’d be rich.
Short of that mystical power, people turn to so-called “investment gurus” for guidance, believing that these self-proclaimed experts have the uncanny ability to predict movements in the market and even specific stocks.