Hi, my name is Lewis Howes and welcome to the Daily Motivation Show.

You wouldn't believe how many entrepreneur friends I know who have a good business and they don't invest at all.

And that's a huge mistake.

What should we be investing in if you have a good business?

Simple, low cost target date funds is a great way to go. Entrepreneurs. Index funds? Yeah, index funds. They get a little too smart for their own good. They say, I could just put that money in my business. And I always say, look, I'm glad you have a business that's throwing off tons of cash. That's awesome. Most businesses don't last 80 years. So be smart. Give yourself a small

plan B. Put 5K a month, 10K a month, whatever's appropriate for your level of success. And hey,

maybe your business does really well. That's awesome. But maybe one day something goes wrong.

Always want to be prepared. You never want to have your back against the wall. So I just want to encourage everybody, whether you're making $250K or $2.5 million for the high earners here, don't get too smart for your own good. Keep investing and saving. What are the three or four main things you invest in with that 10 to 30% a year? And does it change the year to year? Yeah. Once you have a certain

amount of capital, you do have a few opportunities that you probably didn't have before.

Everybody has this idea that, you know, the rich have all these crazy tax breaks and captive

insurance and this and that. And I've looked into all that stuff. Here's the truth.

The truth is... Some stuff is a little sketchy, but yeah. Definitely. And I'll say my core values are

that when it comes to things like taxes... I love your principle on this. I'm very conservative.

I'm like, dude, only in this country could I have been this successful. I love this mindset.

I'm happy to pay my taxes. It means that I had the

opportunity to create something great. And if I pay an extra 5,000 or 30,000, it doesn't change my

life at all. And I want to be able to give back to the society that enabled me to do what I do.

That's a powerful mindset. And it gets you away from, you still want to optimize tax breaks that are out there,

but it gets you away from trying to constantly look for some of the shortcuts or like schemes

or something.

Yes, I've always found that the people, especially entrepreneurs who talk about tax breaks

all the time,

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