John D. Rockefeller tithed 10% of his income since the first check he ever got.
Taxes were lower then... but it's still impressive to know that the richest man to ever live got there with a self-imposed outflow of wealth.
Donate what you consider fair and find a way.
What you should be scared of and 99% of the people on here don't know about are anti-dumping products. If you import an anti-dumping product, then you can get hit with an additional tariff before the government decides to "close the case". That's usually around 2 years after the import and...
Don't worry about the IRS. That's not a thing unless you're cheating taxes down the line.
The $10 you're making a unit might not be worth it today, but is if you can scale. Scale allows for a few things including:
Buying in bulk for a lower price, and sea shipping. Your freight costs plummet...
Assuming you're in the U.S., here you go: Harmonized Tariff Schedule Search. Figure out how to use that.
Once you have that, take that number and then look at the attached list. Use the attached list to see what percentage you add on. This is your tariff rate.
Let's say your tariff rate is...
To answer the original question:
I don't think the answer should be written out as a percentage. It depends on your goals at the given time. Considerations include a safety net and your lifestyle.
Personally, I enjoy having security, and keep 3 years worth of living costs in liquid assets. If...
Everyone's telling you to keep doing poker this, poker that, bullshit, bullshit.
Let's be honest and look at the numbers. You've played professionally for 7 years. Made $100k. That's $14k/year.
Is that a lot for Manila? Yeah, I guess. Is that something you should be really proud of? Yeah. But...
Everyone's been in your situation.
Drink three beers. Realize that shit doesn't matter. If you keep doing what you're doing then you'll keep being where you're at. Then after that epiphany start working on something.
You're scared of failure because failing signifies that the dream is dead...
I'm wondering why the f*ck we shut down the entire country for months, just to now allow mass gatherings of people while coronavirus numbers are accelerating.
Chicago and other major cities have been packed the past few days with massive protests leading to riots later in the night.
Your mindset is a trap. You're registering income before having the income. You need to have the income before getting into that frame of mind.
One of your posts is diminishing your wife's hard work to highlight how what she's doing is stupid, and what you're doing is far superior since it...
What's your timeline to be successful and put money in your bank account?
If 5+ years, then e-commerce/Amazon FBA/etc.
If < 1 year, then service based businesses.
I'm personally biased towards products since I believe each person can create a product of value that they care about. However...
1. Buy this book and read it: Amazon.com: HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company (HBR Guide Series) eBook: Ruback, Richard S., Yudkoff, Royce: Kindle Store.
2. Finish med school if you haven't already and get 1-2 years of experience under your belt.
What do you mean?
Anyone that's seeking out "money making sites" is a money chaser and destined to waste their time for little to no money.
I don't seek out "money making sites", just stumble on opportunities by operating my business day to day.
If you like cities, HK has an energy to it that very few other cities in the world come close to. I even prefer it to Manhattan.
If you're looking for manufacturing opportunities, they're not in HK. Cross the border into China.
Shenzhen (you can take the metro to the border and walk across the...
If it's samples then go with DHL. Should take around 2 weeks from China to you.
If it's the main shipment then ocean freight since a 2 week wait time will save you a lot of money.
Getting the shipment to HK and shipping from there will lower the time for you to get your DHL shipment by a lot.