What Would David Chilton Say?
Enter your numbers and get graded on paying yourself first, the one habit the Wealthy Barber built his whole philosophy around. See your savings rate against the 10% benchmark, and what closing the gap could be worth by age 65.
Not affiliated with or endorsed by David Chilton. An educational interpretation of ideas published in The Wealthy Barber (Stoddart, 1989).
Your nest egg, age by age
Your invested balance at each age to 65, in today's dollars: your current pace against paying yourself a full 10% of income. The shaded gap is what closing it adds, and the dashed line is what you put in.
What he'd have you do next
Automation first, because the habit comes before the amount.
This is an educational tool that applies David Chilton's well-documented public philosophy to your numbers. It is for general education only and is not financial advice. All verdict lines are respectful paraphrases in his style, not real quotes.
How this is calculated
Pay yourself first: save 10% off the top
The core rule: automatically save 10% of your gross earnings before you spend anything, and invest it for long-term growth. This tool computes your current savings rate (annual saving ÷ gross income) and grades it against the 10% benchmark. Source: The Wealthy Barber (Stoddart, 1989); reaffirmed in The Wealthy Barber Returns (2011) and the fully updated 2025 edition.
The 15% stretch for higher earners
Higher earners are encouraged to aim for 10–15%, so the tool marks 15% as a "stretch" and rewards it in the score. Source: The Wealthy Barber Returns (2011).
Savings rate beats income
Long-run wealth depends more on the share of income you keep and invest than on how much you earn, so the score is built around your rate. Source: The Wealthy Barber philosophy.
Automation
"Pay yourself first" only works if it happens before you can spend the money, so the score gives credit when your saving is automatic. Source: The Wealthy Barber (Stoddart, 1989).
Fluctuating income
If your income bounces around, still pay yourself first: base your 10% on the minimum you can reliably expect to earn, then top up in the good months. Source: The Wealthy Barber Returns (2011).
The score
Up to 65 points for reaching 10% of gross income (in proportion below it), up to 20 more across the 10–15% stretch, and 15 for saving automatically, for a maximum of 100. The gauge is coloured on the same lines the verdict uses: green from 75, gold from 45 to 74, and red under 45.
The wealth-at-65 projection
We grow any balance you already have, plus a deposit at the end of every month, to age 65 at your chosen return. The yearly return is turned into its monthly equivalent, so 5% a year earns exactly 5% a year: i = (1 + r)^(1/12) − 1 and FV = existing·(1 + i)^n + monthly·[((1 + i)^n − 1) ÷ i], where n is the months to 65 (12 × (65 − your age in whole years)). Because the return is real (after inflation), every figure is in today's dollars, which assumes your monthly amount rises with inflation, as 10% of a paycheque that keeps pace would.
The chart draws that balance at each age. Below 10% of income it compares your pace with paying yourself 10%; from 10% up to 15% it compares it with the 15% stretch; at 15% or more there is no higher benchmark, so it shows your pace alone. The shaded gap is what the higher amount adds by each age, and the dashed line is your balance today plus your deposits, so everything above it is growth. Returns are assumptions, not guarantees.
"I can't afford it"
Chilton calls this the most powerful phrase for controlling spending; the tool surfaces it as a suggested next step. Source: The Wealthy Barber Returns (2011).
David Chilton is a Canadian author who wrote The Wealthy Barber; he remains active in personal-finance education. Read his own free material at thewealthybarber.com.
If you are David Chilton or represent them and want this changed or removed, email fawad@ahmed.fyi and we'll act promptly.
Common questions
What does “pay yourself first” mean?
Before you pay any bills or spend a dollar, move a fixed slice of your gross income (the classic target is 10%) straight into savings and long-term investments. You then live on what's left. The idea from The Wealthy Barber is that saving is a habit you automate, not a leftover you hope for at month-end.
Is 10% enough, or should I save more?
Ten percent of gross income is the baseline habit to build. Higher earners are encouraged to stretch toward 10–15%, and your long-run wealth depends more on your savings rate than on your income.
How can I pay myself first when my income changes every month?
Base your automatic 10% on the minimum you can reliably expect to earn, so the transfer never bounces, then add extra in the stronger months.
What is the most powerful phrase for controlling spending?
“I can't afford it.” Said plainly and often, it keeps spending in check far better than any budgeting spreadsheet.