A short YouTube podcast/duet segment by Chris Larsen (speaker Patrick) giving motivational financial advice about aggressively saving to build investable capital. Key recommendations: implement an automatic "savings tax" (out of sight, out of mind), prioritize higher savings rates (10–50%), and pursue business income that enables large savings and investment.
Find a business that you can make a lot of money, because if you're living on $50,000 income, it's hard to save anything, right? And one of my favorite rules, Patrick, and you mastered it is is have a savings tax. And I love how you did it. You know, you set it up out of sight, out of mind. It's going into that account, but then you have that capital ready to deploy. And I like to reverse things instead of saying, hey, at the end of the day, let's save 10%. No, just take 10, 20. Get to the point where you can make enough money to save 50%, and then you can really get that big flywheel running. How's that sound?
“Grit is Good” and How to Keep Getting up When Your Business Gets you Down
