Do Not Borrow Consumer Debt

Amy is an intern who earns $80,000 per year. She saves around 20% of that, which equates to $1,031 per month. So what affects your ability to pay yourself first then? Number one, income stability. Number two, recessions. Number three, economic shocks such as the COVID pandemic. Number four: GDP of a nation. The higher the GDP, the more savings rate of its citizens. No consumer debt. Do not borrow any consumer debt. Save as much as you possibly can in your 20s. Your savings rate is far more important than your investment returns on the whole. Stay tuned for this episode because I'm going to run a