Ndubuisi Egwim teaches AMASS, a four-step system: pick a savings percentage, automate transfers to an investment account, automate your investments, then forget about it. He argues automation beats motivation, and consistent saving, not clever picking, builds wealth.
Look, I've been investing for more than 21 years, and one thing I can tell you is this: without a system, it's difficult. This is one simple system I learned along the way that helped me stay consistent and compounding, and I've now taught it to thousands of doctors. Firstly, don't rely on motivation. Don't wake up every morning thinking, oh, I need to put some money, I need to remember to invest. No. Build a simple system. In fact, I've got one that I've taught to thousands of doctors. I wrote about it in my book, The Money-Wise Doctor. It's called AMASS. So that's Automated Monthly Allocated Savings System. And the idea is incredibly simple but powerful. Decide in advance how much you're going to allocate towards your financial future, usually as a percentage of your net income, okay, after-tax income. 2, automate the transfer to your investment account. And 3, automate the investment decision. So this works well with a broad, well-diversified passive portfolio. Now, 4, get on with your life. That's it. Doctors are busy. Clinics run late. Uncalls happen. Children get sick. Life happens. And anything important that depends entirely on you remembering to do it every single month will eventually get forgotten. The people who reach financial freedom are not necessarily the people who found the cleverest investment. That wasn't the case for me. Very often, they are the people who built a sensible system and And kept it running long enough. Now, your financial future also deserves to be alternated too. If you like practical financial education like this, follow Moneywise Doctor for more. Well, I'm running the Doctor Sparks X-Ray Workshop. If you comment X-ray, I'll send you the details.
