Six Principles to Personal Financial Security
The bedrock principles that will influence how you live financially include: 1. Save as much as possible When you're young, save 10 percent of your income. At middle age, aim for 15 or 20 percent. If you don't start until later than middle age, save every penny you can. 2. Learn and apply the magic of compound interest The greatest invention of man was compound interest. If you start early, tiny amounts grow to immense amounts, and pretty soon you're all set for retirement.
