In episode #592, Eric and Neil discuss what you should do with your profits. Tune in to hear in what you should be investing.

TIME-STAMPED SHOW NOTES:
[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!

Leave some feedback:
What should we talk about next? Please let us know in the comments below.
Did you enjoy this episode? If so, please leave a short review.

Connect with us:
NeilPatel.com
Quick Sprout
Growth Everywhere
Single Grain
Twitter @neilpatel
Twitter @ericosiu



Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode #592, Eric and Neil discuss what you should do with your profits. Tune in to hear in what you should be investing. TIME-STAMPED SHOW NOTES: <ul> <li>[00:27] Today’s Topic: You Made a Bunch of Money. Now What?
</li> <li>[00:45] If you make six figures, pay your expenses and live a minimalist lifestyle.</li> <li>[01:05] Put all your money back into your business.</li> <li>[01:28] <a href="https://www.amazon.com/Principles-Life-Work-Ray-Dalio/dp/1501124021"> Ray Dalio’s book</a> has been helpful for determining what to do with your money.</li> <li>[01:54] Ray is a hedge fund manager; his book discusses the benefits and diversifying.</li> <li>[02:18] Warren Buffett typically makes ten to twenty investments at a time.</li> <li>[02:37] Invest back in yourself!</li> <li>[02:50] Invest back into your business!</li> <li>[03:22] Neil would take his profits and invest in more businesses.</li> <li>[03:40] He lost a lot of money this way. Focus on your core business.</li> <li>[03:44] Neil spoke with Brian Lee, head of <a href="https://www.shoedazzle.com/">Shoe Dazzle</a> and <a href="https://www.legalzoom.com/">Legal Zoom</a>. He told Neil to have laser-sharp focus on his core business.</li> <li>[04:14] Only consider expanding when your core business has leveled off.</li> <li>[05:23] Eric watched a video about how to get richer.</li> <li>[05:45] He learned that taxes are 30-50%.</li> <li>[06:06] Eric recommends starting an LLC to run your expenses through.</li> <li>[06:21] That’s all for today!</li> <li>[06:25] Go to <a href="http://www.singlegrain.com/giveaway">Singlegrain.com/Giveway</a> for a special marketing tool giveaway!</li> </ul> Leave some feedback: <ul> <li>What should we talk about next? Please let us know in the comments below.</li> <li>Did you enjoy this episode? If so, please leave a short review.</li> </ul> Connect with us: <ul> <li><a href="http://neilpatel.com/">NeilPatel.com</a></li> <li><a href="https://www.quicksprout.com/">Quick Sprout</a></li> <li><a href="http://growtheverywhere.com/">Growth Everywhere</a></li> <li><a href="http://www.singlegrain.com/">Single Grain</a></li> <li><a href="https://twitter.com/neilpatel">Twitter @neilpatel</a></li> <li><a href="https://twitter.com/ericosiu">Twitter @ericosiu</a></li> </ul> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

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In episode #592, Eric and Neil discuss what you should do with your profits. Tune in to hear in what you should be investing. TIME-STAMPED SHOW NOTES:  [00:27] Today’s Topic: You Made a Bunch of Money. Now What? [00:45] If you make six figures, pay...

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

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c29c6086-0c6e-42ee-9caa-b0d200672f79/transcript

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