You Made a Bunch of Money. Now What?

[00:27] Today’s Topic: You Made a Bunch of Money. Now What?

[00:45] If you make six figures, pay your expenses and live a minimalist lifestyle.

[01:05] Put all your money back into your business.

[01:28] Ray Dalio’s book has been helpful for determining what to do with your money.

[01:54] Ray is a hedge fund manager; his book discusses the benefits and diversifying.

[02:18] Warren Buffett typically makes ten to twenty investments at a time.

[02:37] Invest back in yourself!

[02:50] Invest back into your business!

[03:22] Neil would take his profits and invest in more businesses.

[03:40] He lost a lot of money this way. Focus on your core business.

[03:44] Neil spoke with Brian Lee, head of Shoe Dazzle and Legal Zoom. He told Neil to have laser-sharp focus on his core business.

[04:14] Only consider expanding when your core business has leveled off.

[05:23] Eric watched a video about how to get richer.

[05:45] He learned that taxes are 30-50%.

[06:06] Eric recommends starting an LLC to run your expenses through.

[06:21] That’s all for today!

[06:25] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

You Made a Bunch of Money. Now What? | Ep. #592