Doing things that are good for you can be hard for youwith the 401k, 80% of millionaires said that was the vehicle to building their millionaire status and their wealth.Can't argue with that. And if you max that out, there's still more investment options out there for you. Now, the next savings trick they give here is to nudge up your retirement contributions. Just a scosh. They say whenever you can, especially when you get a pay increase, nudge up the percentage of your pay that goes to your 401k. Now, while I agree it's typically a good idea to increase your contributions, like I said before, you're better off to just contribute 15% of your income and be done with it and learn to live off the rest. Because believe it or not, it's your personal savings rate, how often you save your money instead of spending it, that makes the real difference in the long run. Not picking the perfect funds or having a big salary. It's about savings Great. And the more you save, the bigger the nest egg is going to be. And when you can commit to saving a significant portion of your income on a solid long term retirement plan, that's when your nest egg really compounds and grows. I'm going to give this trick a mid because it's not necessarily bad advice per se, but this idea of slowly nudging it just feels weak.Just do better and invest 15 % until your house is paid off, then you can increase it. Let go, let God live, laugh, love. Enjoy your nest egg. All right, it's time for the last trick on the list. And a warning here, this one is going to be a pretty big yikes. And before we get to it, I've got a bonus trick, courtesy of my friends at Tello, who are committed to helping people save money on their cell phone plans. Sorry, guys. You know what? Let me get this real quick. Tello.Here's a low fee What's that?Cease and desist? Oh, sorry about that, Lionel. No problem. Love you, too. Love you, too. All right. Bye-bye. I really do love Tello because they offer more data for prices as low as five bucks or just 25 bucks for the unlimited everything plan. Not to mention flexible plans and no contracts. So it's time to fall love with saving on your phone plan. Go to telo. Com/george and get five bucks off the unlimited data plan for your first month of service. Or just check out the link in the description below. And while we're at it, let's make this bonus savings trick a two for one, because this trick really is something you got to know about. You see, Using a high yield savings account like the one offered by our sponsor, Laurel Road, will make your savings work harder for you. Because they're an online bank, they can offer accounts that earn 5.15% APY without those phony maintenance fees. Less overhead equals more interest for you. Plus, with Laurel Road, there's a ton of other great perks. No minimum balance required to open an account, and your deposits are FDIC-insured, meaning it's safe and protected. So make the most of your savings by going to laurelroad.Com/george, or you can always click the link in the description below. Happy savings. All right, that's enough bonus content. Back to the final big yikes I've got for you, and that is, divert coins to savings. Okay, here's what they say, take the change in coins from your cash purchases and stash it away. An empty jar or coffee they can will do. Make it a fun game with the children and get the whole family saving and help them learn the habit of saving from a young age. So what they're saying here is, put the change in a piggy bank. Groundbreaking. Totally unique, completely not ever been done before. And sure, this one isn't going to do you any harm, But do you really think it's going to do that much good? I mean, I doubt you're using physical cash often enough to fill up that ceramic wenker. With this strategy, even if you got a dollar of spare change every single week, that only adds up to 50 bucks a year. It's just not realistically going to impact your savings goal. So I'm going to give this one a big yikes, because if this is the trick you're counting on to save money, well, you're only tricking yourself.How could I have been so stupid? All right, so let's recap here and talk about what actually works when it comes to savings. For starters, automate your savings. That's a good one. Next, save 15% of your income in a retirement account when you're financially ready. And don't focus on the piddly things that gets you saving a few extra bucks a month. Instead, focus on the big strides that will help you build real wealth. The real trick is consistently putting a big chunk of your income towards savings and learning to live off the rest. Now, in all of the savings talk, one thing we didn't cover was how to intentionally save for big purchases like an exotic trip to Poland or a house down payment, because I know it can feel impossible to come up with tens of thousands of dollars without resorting to some stupid debt, which is every debt. But trust me, it's possible to save as much as $100,000 in just three years. And it's actually not all that complicated. So watch this next video to find out how or click the link in the description below. For now, make sure to share this video with a friend who legit still uses a piggy bank.They need a wake up call and probably MapQuest directions to the nearest Coinstar. As always, thanks for watching. We'll see you next time.

with the 401k, 80% of millionaires said that was the vehicle to building their millionaire status and their wealth.

Can't argue with that. And if you max that out, there's still more investment options out there for you. Now, the next savings trick they give here is to nudge up your retirement contributions. Just a scosh. They say whenever you can, especially when you get a pay increase, nudge up the percentage of your pay that goes to your 401k. Now, while I agree it's typically a good idea to increase your contributions, like I said before, you're better off to just contribute 15% of your income and be done with it and learn to live off the rest. Because believe it or not, it's your personal savings rate, how often you save your money instead of spending it, that makes the real difference in the long run. Not picking the perfect funds or having a big salary. It's about savings Great. And the more you save, the bigger the nest egg is going to be. And when you can commit to saving a significant portion of your income on a solid long term retirement plan, that's when your nest egg really compounds and grows. I'm going to give this trick a mid because it's not necessarily bad advice per se, but this idea of slowly nudging it just feels weak.

Just do better and invest 15 % until your house is paid off, then you can increase it. Let go, let God live, laugh, love. Enjoy your nest egg. All right, it's time for the last trick on the list. And a warning here, this one is going to be a pretty big yikes. And before we get to it, I've got a bonus trick, courtesy of my friends at Tello, who are committed to helping people save money on their cell phone plans. Sorry, guys. You know what? Let me get this real quick. Tello.

Here's a low fee What's that?

Cease and desist? Oh, sorry about that, Lionel. No problem. Love you, too. Love you, too. All right. Bye-bye. I really do love Tello because they offer more data for prices as low as five bucks or just 25 bucks for the unlimited everything plan. Not to mention flexible plans and no contracts. So it's time to fall love with saving on your phone plan. Go to telo. Com/george and get five bucks off the unlimited data plan for your first month of service. Or just check out the link in the description below. And while we're at it, let's make this bonus savings trick a two for one, because this trick really is something you got to know about. You see, Using a high yield savings account like the one offered by our sponsor, Laurel Road, will make your savings work harder for you. Because they're an online bank, they can offer accounts that earn 5.15% APY without those phony maintenance fees. Less overhead equals more interest for you. Plus, with Laurel Road, there's a ton of other great perks. No minimum balance required to open an account, and your deposits are FDIC-insured, meaning it's safe and protected. So make the most of your savings by going to laurelroad.

Com/george, or you can always click the link in the description below. Happy savings. All right, that's enough bonus content. Back to the final big yikes I've got for you, and that is, divert coins to savings. Okay, here's what they say, take the change in coins from your cash purchases and stash it away. An empty jar or coffee they can will do. Make it a fun game with the children and get the whole family saving and help them learn the habit of saving from a young age. So what they're saying here is, put the change in a piggy bank. Groundbreaking. Totally unique, completely not ever been done before. And sure, this one isn't going to do you any harm, But do you really think it's going to do that much good? I mean, I doubt you're using physical cash often enough to fill up that ceramic wenker. With this strategy, even if you got a dollar of spare change every single week, that only adds up to 50 bucks a year. It's just not realistically going to impact your savings goal. So I'm going to give this one a big yikes, because if this is the trick you're counting on to save money, well, you're only tricking yourself.

How could I have been so stupid? All right, so let's recap here and talk about what actually works when it comes to savings. For starters, automate your savings. That's a good one. Next, save 15% of your income in a retirement account when you're financially ready. And don't focus on the piddly things that gets you saving a few extra bucks a month. Instead, focus on the big strides that will help you build real wealth. The real trick is consistently putting a big chunk of your income towards savings and learning to live off the rest. Now, in all of the savings talk, one thing we didn't cover was how to intentionally save for big purchases like an exotic trip to Poland or a house down payment, because I know it can feel impossible to come up with tens of thousands of dollars without resorting to some stupid debt, which is every debt. But trust me, it's possible to save as much as $100,000 in just three years. And it's actually not all that complicated. So watch this next video to find out how or click the link in the description below. For now, make sure to share this video with a friend who legit still uses a piggy bank.

They need a wake up call and probably MapQuest directions to the nearest Coinstar. As always, thanks for watching. We'll see you next time.