1127: Your Personal Savings Rate - The Most Important Thing You Can Track by The Finance Twins on Early Retirement

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 10 April 2020

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Finance Twins share the most important thing you can track. Episode 1127: Your Personal Savings Rate - The Most Important Thing You Can Track by The Finance Twins on Early Retirement Camilo and Francisco Maldonado are the Finance Twins. Most people think money is confusing unless you are an accountant. We used to think that too. After working incredibly hard and catching several lucky breaks, we realized so many people are looking for ways to learn about personal finance, how to manage money, and how to get out of crippling debt. They have tons of tools and resources as well as countless articles that have everything you need to start your path to financial freedom. The original post is located here: https://thefinancetwins.com/personal-savings-rate/ Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and in The O.L.D. Facebook Group Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:00.0	This is where I'm optimal Finance Daily, episode 1127, your personal savings rate, the most important thing you can track by the finance twins of the finance twins.
0:10.0	And I'm Dan and I'm your host here on the podcast. This is where I read to you from some of the very best personal finance blogs on the planet.
0:17.0	And hope your week has been great so far. Happy Friday to you and thanks so much for listening in.
0:22.0	And hey, if you didn't know about this, we give away books on Instagram pretty frequently,
0:26.5	so if you're not yet following us on there, you can find us at Old Podcast.
0:31.0	But for now, let's get to today's post from the Finance Twins as we optimize your life.
0:37.0	Your personal savings rate, the most important thing you can track by the Finance Twins of the Finance Twins.com.
0:48.0	We've written about the importance of budgeting and about how critical it is to understand how much money you need for retirement.
0:55.2	We've even written about how being intentional with your money and prioritizing experiences
1:00.2	over physical products will make you happier.
1:03.0	But none of those things are as important as your personal savings rate.
1:07.0	If you only take one piece of advice from us, let it be this.
1:11.0	Track your monthly personal savings rate and get it as high as you can.
1:16.0	This simple metric will determine whether you'll have a comfortable retirement or whether you'll
1:20.3	have to work until your last days.
1:22.8	This sounds crazy, right?
1:24.2	Why would your monthly personal savings rate
1:26.2	be more important than, say, your salary?
1:29.0	But before we can explain the reason why,
1:31.2	let's make sure you know what we mean by monthly personal savings rate.
1:35.4	What does monthly personal savings rate even mean?
1:38.9	Let's all get on the same page. When we refer to your monthly
	...

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