How to invest excess money?

[ChocolateFactory]

What do you do when your income exceeds what you need to pay your bills?

You can get 4-5% interest on USD, but as I don't live in the US, that's still risky for me due to the currency risk.

Most people would tell you to put your money into broad-market index funds, but I remember that MJ considered that "slow lane" because you don't have control over the market.
But I don't need the money in my own business(es). Besides, I'd be concentrating the risk in my person. I'd like to diversify it. I could invest in other people's businesses, but then I'd have to actively pick investments as well, which is risky, and which would take away time that I should be spending on my own businesses.

So what's your plan?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[EmotionEngine]

What do you do when your income exceeds what you need to pay your bills?

You can get 4-5% interest on USD, but as I don't live in the US, that's still risky for me due to the currency risk.

Most people would tell you to put your money into broad-market index funds, but I remember that MJ considered that "slow lane" because you don't have control over the market.
But I don't need the money in my own business(es). Besides, I'd be concentrating the risk in my person. I'd like to diversify it. I could invest in other people's businesses, but then I'd have to actively pick investments as well, which is risky, and which would take away time that I should be spending on my own businesses.

So what's your plan?

This may go against the grain but you can always use money to help people. St. Jude's Children's Hospital or other charities and causes you care about.

 

[stevensarber]

There are some mixed reviews on this forum about Alex Hormozi, but I really like him. Here's his advice on how to invest excess money:

EDIT: In case you're not aware, he's a mega successful entrepreneur.

View: https://youtu.be/dZ7xeVCYC5M

 

[Saad Khan]

This may go against the grain but you can always use money to help people. St. Jude's Children's Hospital or other charities and causes you care about.

The feeling you get when you know you made a positive impact in someone else's life is unparalleled.

+1 for charity

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[ChocolateFactory]

Ok, for clarification:

1. Excess money is money that I don't need to pay my bills. It's not money that I don't need, I'm far from retirement.

2. I run a successful business. I'm not 20 years old with no education. Obviously when you're 20, you should invest in your education.