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

<p><span style="font-weight: 400;">In episode #592, Eric and Neil discuss what you should do with your profits. Tune in to hear in what you should be investing.</span></p> <p><strong>TIME-STAMPED SHOW NOTES:</strong></p> <ul> <li><span style="font-weight: 400;">[00:27] Today’s Topic:</span> <em><span style="font-weight: 400;">You Made a Bunch of Money. Now What?</span></em></li> <li><span style="font-weight: 400;">[00:45] If you make six figures, pay your expenses and live a minimalist lifestyle.</span></li> <li><span style="font-weight: 400;">[01:05] Put all your money back into your business.</span></li> <li><span style="font-weight: 400;">[01:28]</span> <a href= "https://www.amazon.com/Principles-Life-Work-Ray-Dalio/dp/1501124021"> <span style="font-weight: 400;">Ray Dalio’s book</span></a> <span style="font-weight: 400;">has been helpful for determining what to do with your money.</span></li> <li><span style="font-weight: 400;">[01:54] Ray is a hedge fund manager; his book discusses the benefits and diversifying.</span></li> <li><span style="font-weight: 400;">[02:18] Warren Buffett typically makes ten to twenty investments at a time.</span></li> <li><span style="font-weight: 400;">[02:37] Invest back in yourself!</span></li> <li><span style="font-weight: 400;">[02:50] Invest back into your business!</span></li> <li><span style="font-weight: 400;">[03:22] Neil would take his profits and invest in more businesses.</span></li> <li><span style="font-weight: 400;">[03:40] He lost a lot of money this way. Focus on your core business.</span></li> <li><span style="font-weight: 400;">[03:44] Neil spoke with Brian Lee, head of</span> <a href= "https://www.shoedazzle.com/"><span style="font-weight: 400;">Shoe Dazzle</span></a> <span style="font-weight: 400;">and</span> <a href="https://www.legalzoom.com/"><span style= "font-weight: 400;">Legal Zoom</span></a><span style= "font-weight: 400;">. He told Neil to have laser-sharp focus on his core business.</span></li> <li><span style="font-weight: 400;">[04:14] Only consid