Search results

80% is a top effort to save. funding business? Is it a new start up? was the saving from a job or another non business income stream? well done regardless :)

Biz - that is gold! I have a friend who sold a ghost in a bottle so that people can add it to a house and decrease the sale value because it will then become haunted! Who says there are no creative ways to make money!

The great thing about struggling businesses is that there is always "something" that you can do to trade out of it. I cringe when I see tribunals giving tenants multiple chances when they are already $2000 - $3000 in debt for arrears, if they do not have investments or businesses set up...

yes I agree

Biz Rick is correct in saying that businesses work on systems - they do. without systems it's chaotic and you cannot grow past a certain point. systems however need to be overseen and continuously rewritten, they are certainly not static. New systems are also written all the time...

BTW - I don't think RKs view point is BS. It's just one way to look at things - probably works for big business which is different to small business. I am running a small business and all I am saying is that the method of completely stepping out did not work the way that I wanted it to...

I agree Ace. I have tried both ways - I did completely automate my business and step out of it for 5 years. It existed to pay salaries and create jobs for people, it did not work for me and my family. profits are much higher when I'm in there. 12 months ago I sacked the senior property...

Yeah same Great strategy

I've heard RK saying he uses 20% of his income as living expenses and 80% is invested! It makes sense that the percentage of saving/investing increases as income increases.

This is a good habit to start kids off. Mine don't have enough or are old enough for properties yet but I get them to invest into silver coins - you can purchase a few at a time and it fits in with pocket money.

I don't have super either as I have never been employed in Australia. If you are self reliant then you need to be more responsible and you need a strategy! Well done Moyos

I'm wondering how many people implement this powerful strategy where you habitually put away a portion of your pay check every month or so to go towards investments? By pay check I mean any kind of income that lands in your bank account whether you work for someone else or not. If so...