I was recently talking with a waitress at a bar I frequent often enough for the waitress to know me by name, and I remarked to her that she must have been working a lot lately because she has been there just about every time I have ever been there. She replied that she works every chance she gets, saying, “If you don’t work on Saturday, You Don’t Eat on Saturday.”
Applying that line to personal finance, I once again received a real-life look at what delayed gratification is all about, and why I try to use my disposable income to buy cash-generating assets.
When you own no cash-producing assets—no stocks, no bonds, no real estate—you must work to make money. If you work 10 hours per day at $10 per hour, you’re getting a little bit less than $100 that day, depending on your personal tax adjustments. That sucks … Read the rest of this article!