Spend on your money dial, but save hard elsewhere – invest the difference
Most businesses don’t last more than 80 years
“I am happy to pay my taxes. Only in this country could I have been this successful”
What should you invest in after you’ve maxed out your 401k, your Roth IRA, your HSA etc.?
Stop checking the market – you’re not a day trader. It’s all about the long game.
DON’T take your money out when the market dips
Set up automatic contributions to your investment accounts and don’t touch a thing
“It doesn’t matter in the short term, but in the long term we know the market tends to return 7-8%”
Say you have an extra $500k-$1,00,000 lying around (after you’ve maxed out your IRAs, you have $5k-10k going to your index funds, you’ve dabbled in crypto, did angel investing etc.) what should you do with the extra $1,000,000 per year?
First ask yourself – Did you really do everything?
Invest it in a non-retirement taxable account
Spend more on your money dial
Really question what you’ve been taught
Most people don’t understand that when you spend the money on a house, you incur thousands in phantom costs (taxes, maintenance etc.)
Even if you bought your home 40 years ago for $200k, and it’s worth $600k today – you’d probably have made much more investing that $200k in the market