This is my salary

Go to this website if you want to know my salary:

Like all New York State employees, my salary is public information. You can look up your coach’s salary, your high school teachers’ salaries, and even Governor Andrew Cuomo’s salary. You could have a lot of fun with it, but it’s hardly worth your time.

It’s hardly worth your time because a person’s savings rate a significantly greater predictor of wealth than is her salary.

Your savings rate is the percentage of your take-home pay that you do not spend, but instead put into long-term investments. Those investments grow over time, and the more money you put into them the faster they grow. A fancy new car and shiny new shoes do not grow money–they suck it up.

People who want tons of money save between 50-75% of their income. Financial advisers recommend that average people save at least 10% of their income, because the national savings rate is only 3%.

Do you want to be average?

Read more about this here. If you follow up on the advice in this article it might be the smartest thing you do all year.

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