I thought that was amazing – that’s the same principle I teach my financial coaching clients.
You work your tail off just to support your lifestyle and survive. By the end of a long day, you’re tired and just want to rest – but you’re only 90% of the way there.
You’ve only done enough to survive, and now you must put out that last 10% to move forward. That’s the Ten Percent Rule.
You must use that last ten percent to:
- Improve your financial intelligence by reading and researching investment strategy.
- Earn the extra income needed to purchase investment assets.
- Control expenses so that more of what you earn makes it to savings.
In short, you must do what others won’t, so you can have what others never will. Give it that last 10%.
But what do most of us do? We stop after 90% because we’re comfortable. Our lifestyle needs are satisfied, and we feel tired. We’ve earned a little rest. Putting out that additional 10% is hard work which takes us from an already comfortable situation into an uncomfortable one.
Needless to say, we don’t do it. Nobody wants to get uncomfortable, so they don’t give it that last 10%. That’s why so few people succeed financially.
The gym is a perfect analogy. Think about it. You just did 10 reps with the barbell, and your arms are shaking and aching. You’re tired and want to set the weights down.
Those extra one or two reps will hurt, yet that’s where all the forward progress happens. You don’t want the pain, but you have to go through it if you want the gain. It’s a cliche, but it’s true.
The same holds true after you’ve worked all day to pay your mortgage and bills. You don’t want to spend your evening reading investment strategy articles to improve your financial intelligence. You certainly don’t want to be bothered fixing the leaky faucet to keep expenses down.
You want to chill out and hire the plumber to do the dirty work because you’re tired and deserve a break. But if you don’t put out that last 10%, then you make no forward progress that