Dan Martell
๐ค SpeakerAppearances Over Time
Podcast Appearances
Then five, do this stuff.
The real question that I get asked all the time is what percentage of my income should I be investing in what?
First off, put some aside long-term.
If you want to like lock in into index funds and just have really tax efficient, low fee type of investing, just so that you start to build the base again, that you can use as leverage and collateral for your first home, for a business loan, whatever it is, you at least have that there.
I'm not saying you're going to get rich off of it by any means, but at least you'll build a foundation and savers are growers.
So you need to learn how to save.
Invest a percentage, call it 10% is a good amount.
I like to give to charity because I think you get what you want for other people.
So if I want to give my money to people that need it most, I'm going to get more.
So I think giving, tithing, 10%, smart strategy.
Then the other one is what percent do you think you should reinvest in yourself?
The other day I was talking to one of my sales guys.
He makes 35,000 a month.
He's 20.
He's never made that much money in his life.
He goes, look, I put 5,000 in stock.
I've got this great apartment.
I got a great car.
I got a great life, but I still have extra money.
What should I do with it?