How much of my money should I put in savings from my paycheck?

Good question.

It is a good idea to keep a bit of money in savings but more important than saving money is knowledge of how to make money. Whatever amount you decide to save, you should put double into your personal financial education.

So, if you are the type of person that is very fearful and timid of losing your job, then you should save more but a good rule of thumb is to put twice as much as you save into your personal financial education.

I have come across mentees that have large amounts of savings but have absolutely no knowledge of how to invest and are limited to randomly buying blue chip stocks on their brokerage account or waiving the white flag and accepting defeat and becoming an index investor. It is truly sad to see people so confused.

They don’t go to any courses or invest anything in their education. They don’t have a mentor and then they wonder why they consistently lose money and finally they just decide to be an index investor since certain big name investors parrot out buying the S&P index is the best.

If you want to make 5% per year, do that until you die and you can be a typical index investor. However, If you want to learn how to turn $100,000 into $1,000,000 or $10,000,000 you need a mentor.

You need a proper financial education and a mentor. If you are serious about learning, then contact my office at www.benjaminzmiller.com by filling out the contact form.

I hope that helps and good luck with your investing!

Benjamin Z Miller
www.benjaminzmiller.com
1-817-203-4160
ben@benjaminzmiller.com

https://www.meetup.com/benjamin-z-millers-investor-networking-group/
https://www.linkedin.com/in/benmillersells/
https://twitter.com/BenjaminZMiller