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Master Living on 20% Income
- Live on only 20% of your gross income without changing your standard of living until the 20% grows.
- Set aside 40% for taxes and 40% for future investments consistently to build real wealth.
Increase Income Over Spending
- If you can't live on 20% of your income, increase your income instead of increasing spending.
- Avoid spending raises on luxury items; invest in assets like stocks instead of shoes or watches.
Money Loses Value Saved Not Invested
- Saving money loses value over time due to inflation and taxes.
- Investing money avoids taxation and preserves its purchasing power, unlike simply saving it.