Posts Tagged ‘Savings’

“Inflation is the creation of money and credit beyond the savings rate.  You see, the real impact of this new money comes when it enters the banking system.” -Porter Stansberry

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“No matter how skilled you are as an investor, upping your savings rate is more powerful to your wealth than either increasing your income or increasing your investment returns.  That’s because it’s a one-two punch… you increase what you have to invest, while decreasing what you spend.  You also learn how to live longer on less money….  Remember that ultimately, how much you save will be the difference between a lifetime of poverty… or one of wealth.” -David Eifrig

“Your retirement… and wealth that you accumulate across your lifetime… depends almost entirely on just one factor: Your savings rate.  It doesn’t matter whether you make $30,000 per year or $300,000.  It’s all about the percentage that you can save.” -David Eifrig

Living Proof

Posted: October 27, 2016 in Money Matters
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“Savings are proof that a person, or a country, has been living below their means.  Debt, on the other hand, is evidence that the world has been living above its means.” -Doug Casey

Average Debt

Posted: October 21, 2016 in Debt
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“The average American has more than $203,163 in total debt and less than $1,000 in savings…” -Mark Ford

“Debt is simply a way for you to own and control more than you can currently afford from your savings.  When you take on debt, you are agreeing to use future earnings to pay for something you want now.  In general, if it’s something consumed – like a car, clothes, or airplane tickets – all you’re doing is stealing from your future to satisfy your present desires or needs.  Eventually, it will not work.” -David Eifrig

No matter how skilled you are as an investor, upping your savings rate is more powerful to your wealth than either increasing your income or increasing your investment returns.  The best part is that it doesn’t really matter how much you make.  It only matters how much you save.  That’s the part most people don’t appreciate.” -David Eifrig