Some years ago, I started a new business, made every conceivable mistake that a new entrepreneur can make, and lost all my money. As a result, to survive financially, we had to sell our house to raise cash. At this point, my wife put her foot down. She decided that she was tired of worrying about money all the time. She therefore insisted on taking ten thousand dollars out of the proceeds of the house sale and putting it into a separate bank account where I couldn‘t get my hands on it. Because she was so adamant, I agreed and allowed her to do it. And you know what happened? From the time she put that money in a separate bank account, we were never out of money again.
No matter what happened in the following months and years, with the economy and the business going up and down, enough money continued to materialize so that we never had to touch the special saving account. In a couple of years, we were out of debt and able to buy a beautiful new home in one of the best neighborhoods in the city.
I’ve spoken to many successful people over the years and they’ve told me the same story. They said that as soon as they started to save their money, and put it aside, this money seemed to attract more money and opportunities into their lives. As their savings grew, they began to attract people and information that enable them to invest their funds intelligently, which caused their investment account to grow more rapidly. Probably the main reason why most people retire poor is they never put the initial savings aside to start with. It takes money to make money.
