I heard this tip from Brian Tracy on you tube and thought I would share this as it is quite handy.

This is a very broad topic to discuss but I think about it a lot. From my experience, the amount changes over time and also the potential percentage. I think the generic recommendation is to save 10% or 20% which is a good guide, but it may not realistic if you are a student or perhaps have already retired.

Don’t know who Jim is? Unfortunately, he passed away in 2009 and left a great philosophical footprint on economics and personal development on the world.

He mentor, Earl Shoaff asked him to come up with his own formula on how to allocate your income. He came up with the following:

The 70/30 rule

We all know the value of time when investing. Time in the markets, not timing the market.  But what about the cost of time. Or more so, the time that we have available to us to think about how we are investing.