#7: Saving & Investing for Beginners – My 5 Step Method

Scott 03/21/2020 11

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“Your future self will struggle if you don’t consider saving now.”

Welcome to episode 7 of Entrepreneurs Can Party! In this episode, I’ll be sharing my simple, easy-to-implement 5 Step Method to help you think about saving & investing for your future.

Subscribe to the podcast on Apple PodcastsSpotifyOvercastStitcheror wherever you listen to your favourite podcasts!

saving and investing for beginners

Key Points:

  • I AM NOT AN EXPERT (3:38)
  • Very brief history of pensions (5:40)
  • You can’t expect to have the same quality of life post-retirement if you’re saving less than 5% of your income each month during your working life (8:21)
  • Pay yourself first (9:35)
  • Make it automatic (11:30)
  • Have an investment vehicle (13:23)
  • What are you saving for? (17:56)
  • Create additional income streams (19:11)
  • Tutoring, Udemy Courses with Louise Croft (@digitalnomadgirl) & podcasting (19:51)

Resources I highlight during the episode:

  • Money: Master the Game by Tony Robbins: Without doubt the best personal finance book I’ve read to date. It’s quite a whopper at +600 pages so be prepared to have your mind blown!
  • The Tim Ferris Show episode featuring Ramit Sethi: If you’re looking to find tactical details around Vanguard funds and which ones you might want to consider investing in, this episode is particularly enlightening. I’m a big believer in the 80/20 rule and so is Ramit!
  • My book review blog: You’ll find short summaries of all 60+ books I’ve reviewed so far over the past 4 years, including many personal finance books.
  • Vanguard UK website: If you’re considering investing some of your money in stocks, bonds and other assets, but you don’t want to spend lots of time managing your investments, a low-cost Vanguard fund may be worth considering. Again, the podcast featuring Ramit Sethi (link above) is a great place to start if you’re looking to find out more. 
  • Mr Money Moustache post about early retirement: If you’d like to retire in your 30s, Mr Money Moustache breaks down the maths of how to do so in this excellent post!
  • Rich Dad Poor Dad by Robert Kiyosaki: An excellent all-round personal finance book, particularly if you’re looking to learn more about creating assets and income streams.

Be sure to follow me on Instagram @entrepreneurscanparty

Subscribe to the podcast on Apple PodcastsSpotifyOvercastStitcher or wherever you listen to your favourite podcasts!

​If you haven’t already, please subscribe and review the podcast on Apple Podcasts!

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