Money Guy Show

What to Do with Bonus Money

18 snips
Jan 13, 2025
Wondering how to make the most of your bonus? The discussion dives deep into the best ways to allocate that extra cash—whether to pay off debt, ramp up savings, or invest in real estate. The conversation highlights the importance of balancing enjoyment with financial responsibilities and personal goals. It emphasizes strategies for maximizing contributions to savings and retirement, while also preparing for future aspirations. Get ready to rethink your financial plans and make informed decisions!
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ADVICE

Prioritizing Goals

  • Prioritize your life goals before making financial decisions.
  • Consider both financial independence and entrepreneurship.
ADVICE

Planning for a Business

  • Create a detailed business plan with best-case, realistic, and worst-case scenarios.
  • Use resources like the Wealth Multiplier and Know Your Number course.
ANECDOTE

Brian's Entrepreneurial Journey

  • Brian Preston started his first venture in his late 20s.
  • He temporarily stopped investing to boost cash reserves for the business.
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