Law of Success (21st Century Edition)

274 THE PRINCIPLES OF SELF-MASTERY

Assuming the continuation of that annual savings of $4,040, there will be more

than $10,500 in the bank by Terry's thirtieth birthday. And assuming just 3 percent

growth and the annual savings contribution, Terry will reach the age of forty with

more than $55,000. Having a healthy nest egg to fall back on is a great antidote to

the fear of poverty, making it much easier to develop the self-confidence you need

to pursue your Definite Chief Aim. How much easier would it be for you to take a

risk if you knew that you had $55, 000 backing you up?

Some years ago, before giving serious thought to the value of the

savings habit, I made a personal account of the money that had slipped

through my fingers. The amount was so alarming that it resulted in

the writing of this lesson and adding The Habit of Saving as one of the

seventeen laws of success.

Following is an itemized statement of that account:

Inherited; invested in automobile supply business with

a friend who lost the entire amount in one year

Extra money earned from sundry writing for

magazines and newspapers, all spent uselessly

Earned from training 3,000 salesmen, with the aid

of the Law of Success philosophy, and invested

in a magazine that was not a success because

there was no reserve capital behind it

Extra money earned from public addresses, lectures,

etc., all of which was spent as it came in

Estimated amount that could have been saved during

a period of ten years out of regular earnings, at

the rate of only $50 a month

$4,000

$3,600

$30,000

$3,400

$6,000

$47,000

This amount, had it been saved and invested as received, in building

and loan associations or in some other manner that would have earned