“If you don’t want to work, you have to earn enough money so that you won’t have to work.” – Ogden Nash
Welcome to the money series, people! On top of the other series that I have (Lisa Nichols – Abundance Now; Stephen Covey – 7 Habits of Highly Effective People; Jack Canfield – The Success Principles), this is the one about money, savings, mutuals, investments, among so many other things.
Tony Robbins, the guru (I believe) in the financial field, has an extremely good book in terms of how to invest and where to put your money.
I’ve already done a number of podcasts on here that could be found at – https://itunes.apple.com/us/podcast/the-arsenio-buck-show/id1181794790?mt=2
So before diving into this, I highly suggest you getting a rundown of what this book about.
Without further ado, we were suppose to come up with a number in mind about putting together a monthly withdrawal and putting it into a tax-free mutual fund or 401K.
Did you come up with that number? 5%? 8%? 10%? 20%?
What if you don’t have a number in mind to put towards compounding? What’s holding you back? I can tell you. It feels like you’re losing something. If it’s not being used today towards the materialistic world, you think you’re losing money, or will keep losing money for the next 10-20 years.
That’s the thing about humanity. If we feel like we’re not getting it now, we won’t do it. That’s why so many people don’t save and invest; however, you’re giving yourself a peace of mind and setting up a large fortune of return in the future.
But for those of you who do have a number, look at the following picture.
Tony Robbins has recommend not going any lower than 10%. If you look at the picture above, that’s the reason why. If you save as little as 3.5%, the returns are small. However, if you save over 10%; let alone 13+%, the returns are MASSIVE. You could go from buying a pair of shoes to a buying a sports car.
Ofcourse, you’ll still need to “earn” that little raise from your boss who probably won’t give it to you, but if you do achieve a raise, put that small percentage on top of what you’re already investing.
If you’re new to this, you can message me with any information @ArsenioBuckShow (twitter) or my Facebook page: The Arsenio Buck Show and ask me any questions you’d like.
Until then, begin following this process to financial freedom with the rest of my listeners from around the world. If you want to hear the podcast, copy and past the link below.
Podcast – https://www.spreaker.com/episode/10228209