What Financial Experts Won't Tell You About Money
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- Опубликовано: 9 июн 2024
- Ep 1 - 25 of the Erika Taught Me podcast are here: / erikataughtme
Ep 4 - Author of the New York Times bestseller “The Psychology of Money” Morgan Housel shares today with us his realistic tips and strategies for saving, investing, and achieving financial freedom. Learn how to have a better relationship with your money without compromising happiness along the way.
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Timestamps:
00:00 - Intro
01:50 - Is there a “right answer” in finance?
04:33 - The closest thing to a formula for better finance
09:15 - Biggest mistakes to avoid when investing
12:36 - Red flags to look out for in the finance industry
30:45 - Morgan’s approach to investing today
39:18 - The secret to Warren Buffett’s investing success
53:20 - Advice to achieve financial independence
1:06:36 - What happened to Warren Buffett’s partner Charlie Munger?
01:23:18 - The Psychology of Money Book
1:31:00 - Morgan Taught Me
"It all comes down to interest rates. As an investor, all you're doing is putting up a lump-sump payment for a future cash flow."
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 60% early this year. It is, in my opinion, the best way to get started in the industry right now.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Rachel Sarah Parrish is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
It's quite shocking how few people know about the forbidden book: Making money your reality
Do you happen to know how to find it??
It's a bot
Financial literacy is so important. We should have it as a mandatory course in school. Luckily we have all these incredible content creators on RUclips teaching what we missed in school.💸
Sadly, the agenda of public schooling has little to do with developing critical thinkers.
I squirelled away cash for a rainy day, but with inflation pouring down, it feels more like a leaky bucket. Saving for retirement seems impossible if my money keeps losing value faster than I can earn it.
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.
That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?
Dustin Dwain King is my asset manager. Just research his name to find the details and set up an appointment.
As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make over $400k like some people are this season.
I believe the safest approach is to diversify investments especially under professional; guide. You can mitigate the effects of a market meltdown by diversifying their investments across different asset classes such as stocks, etfs etc It is important to seek the advice of an expert.
Review your portfolio with a professional and don't make the same mistakes again. Diversify, as in your stock portfolio, and hopefully consult a professional. The key to building wealth is long term. I learned 30 years ago that you have to keep emotions (rookie) out of your investment decisions at all cost. Now, i've made over 800k in profits from my 350k investment.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
KENNA MURIEL HESSELING is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
My Blcktken300 shorts are doing pretty well and I plan to hold much longer.
I feel investors should focus on under-the-radar stocks, especially given the present rollercoaster nature of the stock market, because 35% of my $270k portfolio consists of plunging stocks that were once respected, and I'm at a loss for what to do now.
To manage market risks responsibly, distribute investments over many asset classes such as bonds, real estate, and international equities, seek the advice of a professional.
Yes, a lot of people downplay the significance of advisors until their own feelings consume them. I sought for licensed consultants a few summers ago, and I located someone with the greatest qualifications, because I needed a major boost to keep my firm going after my drawn-out divorce. She helped me raise my reserve from $275k to $850k ($850k considering inflation).
I am seriously devoted to creating a stable financial future and am thrilled to participate.
Melissa Maureen Ward is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I was an investment advisor. The advice in the video is excellent and true for the typical American. But for people who have a good portfolio of about $5m, if you look around, most people are still active at 70 (I live in LA) but by 80, not so much, so enjoy yourself at some point before it’s too late. That nice vacation will pay for your last week in the nursing home. There is a difference between wasting money and spending it. Be value-conscious.
Experienced the same thing. The financial counselor we met with last year told us, "Guys, you've already made it," even though my spouse has retired. Stop delaying enjoyable activities in life.
I agree entirely. I recently retired at the age of 54 with about $1.9 million in outside retirement funds, no debt, and a relatively small amount of retirement funds compared to the overall value of my portfolio over the previous three years. To be really honest, the Fin-advisor's position can only be minimized. Just attempt to find a trustworthy one. It is very different from spending money to spend it on possibilities and things that might not materialize any time soon. Being value-conscious is crucial, as you indicated.
@josephbush Interesting, I have been contemplating pursuing that approach myself. I could really use the expertise of this advisors, who's the person guiding you?
Just found her web page, I went through her resume and I must say it was quite impressive. I reached out to her and I have booked a session with her. Thanks a lot for sharing
@@Bezosjesssshe stole all my money
I'm a single, 45 -year-old father who resides in Hamburg. If everything continues to go well for me, I intend to retire at age 50. I couldn't be happier right now than I am that I just bought my first house last month. I'm so happy that I made wise choices that altered my life forever.
Salutations, dude. At your age, you're doing extremely well. I'm 54 years old, and right now my finances are a mess. Any helpful advice would be greatly appreciated in helping to mold my life. I want to buy a home of my own.
It seems like I used the FIRE movement to manage my finances. Investigate it further by doing some research. With the help of a financial professional, they were then successful when investing in stocks, cryptocurrencies, and real estate.
@@AbdoolLogodesign I appreciate your nice words and would like to get in touch with your account management consultant.
I encountered Julie Anne Hoover through my wife, and I emailed her. She is guiding me. Since then, she has given me chances to buy and sell the stocks in which I'm interested in. You can hunt her up online if you require care supervision.
@@AbdoolLogodesign I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Julie up and send her a message. You've truly motivated me. God's blessings on you.
I'm DCAing in Blcktken300 as well. ETH heavier DCA and ALGO. I'm taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!
this will easily x3
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
I don't think I need a finance advisor. I can manage my own money and investments. I don't want to pay someone else to tell me what to do with my hard-earned cash.
That's a risky attitude, My friend. You might be missing out on some valuable opportunities and strategies that a finance advisor can offer. A finance advisor can help you plan for your short-term and long-term goals, optimize your tax situation, diversify your portfolio, and avoid costly mistakes.
I agree with You. A finance advisor can also provide you with objective and unbiased advice, especially when you are facing emotional or stressful situations. They can help you stay on track and avoid making impulsive decisions that can harm your financial future.
I used to think like you. I thought I knew enough about finance and investing to handle everything myself. But then I realized that I was spending too much time and energy on researching, analyzing, and monitoring my finances. I was also overwhelmed by the amount of information and options available. I decided to hire a finance advisor and it was one of the best decisions I ever made. They saved me a lot of time and money, and gave me peace of mind.
My portfolio is made up of dividend etf’s, dividend stocks, growth stocks, it allows a bit more freedom in specific areas with help of an advisor LUCY ROSE CARTER who I’ve been in touch with over the years before buying any stocks and it’s been working perfectly for me.
"Wealth is not to gain nicer stuff, it is to gain total independence and autonomy in my life." ..... SOOOOOOOO POWERFUL AND TRUE FOR ME!!!
Wealth is not to gain nicer stuff, it’s to gain total independence & autonomy in life.
It’s about buying time not possessions.
@@mikev4373You cannot buy time, we all have the same time.
There is no such thing as "total independence", humans are social animals, we will always be dependent on others.
What wealth is for is - control over others. If you don't control others, you aren't wealthy. Having a billion dollars in cash isn't wealth, neither is buying a billion dollar house. But buying a mine, a water source, or a lot of farmland, anything that a lot of people depend upon - THAT is wealth.
@@vebdaklu FINANCIAL independence
Blcktken300 anticipation is building to a fever pitch! 😥
Great interview. Thanks for it. Housel is terrific.
I saw a couple of comments before saying (in so many words) “wish I had started sooner” - I was broke at 42 and am much better off today (53) I say that to give hope to somebody who may be reading this and thinking, “I’m (whatever age), it’s too late for me.” You can always improve. You can always learn. You can always choose a better path.
Thank you 💚
Never late to start.
Thank you
Thank You I’m 45. And that’s exactly how I was thinking. But you are right. I can always get better
If you are late in thinking about these things, start NOW, not tomorrow. It's absolutely not a reason to do nothing.
Love the Blcktken300 content. I think this project is just as essential as HBAR and they both will be great movers
this will easily x3
The idea of investing a significant sum of money may be both thrilling and intimidating. There seems to be potential for considerable wealth increase with the correct strategy. How can one take advantage of the present market to grow one's retirement savings over time?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $90k every one quarter of the year so I’m sticking to investing via an Adviser.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
My advisor is “Natalie Lynn Fisk” highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them., well at least my advisor does lol
Investors should be cautious About their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
Such considerations can certainly have a role when I think about whether I ought to buy into a share. But I never purchase purely on that basis, i always have to seek the advice of my financial-pianner who has helped me gain $985k in a well-diversified portfolio that has experienced exponential growth
@@Greghilton3 I've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging. who's the person guiding you?
“Vivian Carol Gioia”, my financial advisor, is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field.
Thanks, I just googled her and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
About that Coach purse: I bought a good basic Coach shoulder bag in 1988 when I worked at a major department store (and got a 20% employee discount on it) and 35 years later I still have that bag. It's classic, always in style and lasted long than any designer bag I bought. My parents taught me to buy the best item I can afford that will last the longest. And take care of it.
Awesome!!, congratulations 🎉🎉
Good advice. Now let me go cancel my Shein order
At 42, I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.
It is not always fear. Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value.
This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name MICHELLE CHRISTINE PARKER and everything changed. I started enjoying huge returns from my investment.
@@AstaKristjan Who is your financial coach, do you mind hooking me up?
@@simonbad She is available on the web for more information.
Don't get discouraged. But listen to Asta and get with a professional that knows what they're doing. It will change your life
Long term and not the short term, look at the companies that are keeping America afloat?
Hope you enjoyed this interview!
I highly recommend you also watch this Erika Taught Me podcast episode with Barbara Corcoran from Shark Tank: ruclips.net/video/iL4Pc5povO8/видео.html
I watched this one earlier today, great episode
Ioiiooooiooiiooiiooioioooooioouooooipo
Cy
Love your podcast thank you for sharing.
Very informative, mature and logical discussion. Morgan Housel sounded practical person.
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
Considering that I am only three years away from retirement, it becomes challenging for me to solely concentrate on the long-term perspective. Despite having invested in reputable companies and having a significant amount of funds allocated, my profits have been stagnant. This situation raises the question: Does the current recession and unstable market offer any calculated risk opportunities for generating profits?
In a downturned market, numerous strategies exist that can potentially yield lucrative profits. However, executing such sophisticated trades requires the expertise of seasoned market professionals.
I have experienced significant losses, and I am holding on with the hope of recovering them. It is evident that I am in dire need of assistance. Could you please share the name of the investment adviser who guides you?
Portfolio diversification is crucial, and having an advisor to guide you in this process is essential. I work with Stephanie Kopp Meeks as my advisor, and she is highly experienced and well-known in the financial markets. You can easily find more information about her through a quick search, and her expertise can greatly benefit your investment strategy.
Thanks so much I was able to find her page and I already leave her a message.
Blcktken300 will blow up at any moment 😥
I can't believe every publishing company rejected it! I feel like this book should be mandatory in the education system.
Absolutely I agree..that too all around the democratic world❤
I can. It's unconventional wisdom and it makes publishers uncomfortable.
Well, ppl are academically smart but financially illiterate
Maybe the education system is actually not established for full education, just a farming factory for the matrix.
@@davidhenryhudson3102 I didn't get that from the book
Do it. Blcktken300 already in my bags. I had a Blcktken300 after ( your should I buy ) and I agreed and bought. I'm looking to stack more, too.
Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
I started paying more attention to stock and learning more about online trades
You are right.!
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
I really need such expertise, can anyone link me to an expert?
Shanita_creswell
To enhance our long-term investment mix, my partner and I are introducing a range of stocks and ETFs. We've committed $220k initially, with a particular emphasis on inflation-protected bonds and businesses demonstrating robust cash flows. I see potential for enduring growth in the current market, yet I'm also keen to explore strategies for generating short-term gains.
While the current market offers short-term profit potential, it's crucial to note that executing such a strategy requires expertise and skill.
I always consult a financial advisor before investing. During the pandemic, I used their strategies to minimise risks and maximise profits, generating around $3 million in three years with my advisor.
Please can you leave the info of your investment advisor here? I’m in dire need for one.
My advisor is Vivian Carol Gioia, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
One thing that always made sense to me is "PAY YOURSELF FIRST". From my 20's until I retired at 55 I always paid myself 10% off the top first into a retirement account then lived off 90%. Most people spend their pay first and then try to save or invest what is remaining and often there is nothing to save or invest because the money is already spent.
The Richest man in Babylon ❤❤❤
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $21k ROI, and this does not include capital gain.
Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.
Credits to 'Natalie Lynn Fisk' she has a web presence, so you can simply
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I have a poor inner-city mindset. I would have never bought this guy's book because I would have thought he was just trying to shame me. I want to thank you, Erika, for all you do. I am so happy this was recommended to me. I am looking for answers to help my community and the mindset and hopefully prevent my children from following the steps of those before them.
You are correct
This is one of the most relatable interviews I have listened to. He isn't trying to prove to anyone, he isn't trying to sell you on anything, he is just comfortable and confident in his decisions he has made. I relate to Morgan more than any other "finance guy" he is preparing his family for success through time, isn't that really what everyone's goals are... maybe I just see it the same way he does. Great job on this.
I am 53 years old and a late bloomer when it comes to investing. However, I have been a perpetual learner when it comes to understanding money, and how to make it better work for me. I want to thank Erika for bringing content like this to the table. Very relevant and at the same time it allows those from various backgrounds and goals to be able to learn something.
This was such a great conversation! A few things came to mind while listening. As a former foster child, I lacked a safety net of family. Any mistakes I made seemed to hit me harder than others. I lacked a couch to sleep on. I lacked a cosigner. I lacked someone to borrow money from when emergencies happened. I really relied on the system as a whole to live. This meant there was no room for error. There was no forgiveness, no conversation, no "comeback" after a mistake. When I defaulted on my credit cards back in 2009, it hurt me so badly. Homelessness due to my inability to find a place to rent was the hardest. Being homeless with your children is a really dark place to be. So when you say you have a concern for the young adults who overspend trying to fit in, I totally resonated! But for me, I wasn't buying purses or clothing, I was buying food, gas, and diapers. Overspending on your credit cards and having to deal with the repercussions for years to follow for people who are at the bottom of the social hierarchy is absolutely devastating. The fact that your credit report can be impacted for seven years after a bad credit report is a heavy consequence for what is really human error. As Morgan points out, more than half of people aren't with ill intent when they make decisions. They mean well. They are doing the best they can with the information and experience they have had. Therefore, I think it's very important that our younger generation has the ability to bounce back in a reasonable amount of time. Since credit scores are tied into so many things like housing and even getting hired for certain jobs, I think we should introduce a pathway for redemption. Like Morgan pointed out, we learn best by our own burns. Those at the bottom of the social hierarchy have a much harder time recovering from mistakes. I think we can really reduce issues like crime, poverty, homelessness, and drug addiction in our community if we created an environment that allowed for innocent mistakes to occur. Not a free pass, but a more reasonable response to these types of errors. I think it's a huge miscarriage of justice, it's a heavy yoke, for people to have their future chances of success so heavily impacted for years to come after what is really just a minor error. What do you think?
Wow I’m really sorry you went through this, but I hope you’re in a better financial space. I agree that their should be more lenient repercussions for minor financial errors. More than that, I think it’s even more important that our education system teaches kids about this. It’s a shame that most high school Americans are expected to know every detail of photosynthesis, but not how taxes, loans, or credit cards work.
You seem very poised, educated, and smart. I hope you and your children are in a better space.
I also feel that i had no safety net. Very hard life👊
I believe your trending towards Guaranteed Minimum Income. Kinda like a welfare for all. Unfortunately, it contributed to the current inflationary issues we're having. Everyone was blowing money on everything. 😢
Listen to Dave Ramsey about debt (but not religion). Avoid it.
I’ve listened to the audiobook version of this book more times than I count.
It definitely should be required reading/ listening for everyone. Especially for all high school students.
Agreed, very relatable gems that can inspire someone to seek further personal finance knowledge.
With all of the current events, what is the best approach to profit from the market come 2024? I'm still debating diversifying my $700k stock portfolio to obtain some profits while minimizing risk.
First of all you need to understand where and how to allocate funds to hedge against any possible downturns and still make profits also, if you can't navigate the market you should consult with an expert advisor
Accurate asset allocation is crucial right now, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. financial advisory is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly a million ROI
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular advisor to whom you have used their services?
One of the best portfolio managers in the industry, 'Linda Aretha Reeves' deserves recognition. You really ought to look at her work; she's well-known.
I just googled her name and I'm really impressed with her credentials; I reached out to her, I also need assistance to manage my port folio. I just scheduled a call.
Managing your expectations in life can make a HUGE difference! I loved listening to this podcast, thank you Erika and Morgan!
Stocks extended their year-to-date rally following the CPI report, with the S&P 500 last up 0.8% in afternoon trading. but I don't know if stocks will quickly rebound, continue to pull back or move sideways for a few weeks, or if conditions will rapidly deteriorate.I am under pressure to grow my reserve of $250k.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term.For a successful long-term strategy | recommend you seek the guidance a broker or financial advisor.
I agree. Based on personal experience working with an investment advisor, I currently have $385k in a well-diversified portfolio that has experienced exponential growth. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
Would you mind recommending a specialist with a variety of investment options? This is extremely rare, and I eagerly await your response
Valerie Jean Zwosta…. That’s my advisor’s name, Thank me later.
Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call
"The amount of money you are SAVING is the gap between your EGO and your INCOME"
"It's how much you make vs. how much you want to show the world you make (consumption)"
This is such a powerful way of putting it.
This is a great conversation- especially his POV of saving like a pessimist and investing like an optimist. Brilliant
I am experiencing one of the most challenging phases of my life... Lost a fortune lnvesting in emerging companies. How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Speaking with an advisor helped me stay afloat in the market and grow my portfolio to about 65% since January, and in just a few months, I was able to earn over $350K in net profit from high dividend yielding stocks. you should try it if you're unsure about the retirement.
my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
I started out with a financial advisor called " *Monica Selena Park* ". Her honest approach gives me complete ownership and control of my positions, and her rates are incredibly affordable given my ROI.
Thank you for this tip , I must say, Monica appears to be quite knowledgeable. After coming across her web page, I went through her resume and I must say, it was quite impressive. I reached out and scheduled a call
This podcast has literally enlightened me so much on various levels! Not just in trying to understand money better but how certain things/perspectives Morgan talked about life in relation to money or business just hit me so hard, this is amazing!
This is what I needed to hear back when I was coming fresh out of high school. However… I’m so glad that I’m more disciplined & in tune with my finances now. I’m able to now understand & be receptive to great ideas/ knowledge that are pertinent to the lifestyle I want. Keep this up, you guys are changing lives!
Absolutely my experience. I had a financial advisor knock on my door to schedule a meeting. I went to meet him and kept asking about his fees. He ignored my questions. After looking at the fine print, his fees were 1% for life!!!! I laughed so hard. Hell no!!! People keep trying to sell stock trading courses too! Real estate courses! Everybody is trying to sell something. I feel sorry for the senior citizens who have a hard time reading the fine print or understanding English. Rip off society!
Loved how organic this interview was. Straight to the point with real facts. Thank you for sharing both of your knowledge.
This will influence an entire generation of entrepreneurs, thank you❤❤❤
I didn’t even know what to expect when I signed up for the Passive Income Challenge. Wow, I’m glad I did! I know practically nothing about the world of finance, investing etc. I watched the video and know more than I ever did. I can’t wait to buy the book and continue to learn! Thank you both for this information.
Thank you for this podcast, Erika.
We need more podcasts similar to this one,
so people will have a different & more positive mindset toward money.
Do keep up the awesome work!
I’ve had majority of my holdings in tech stocks and I've had 25% increase in my portfolio, especially with Apple’s P/E (price to earnings ratio) but with much uncertainty now, my question is what stocks can be the next APPL in terms of growth for the next decade?
it might be difficult finding the next apple within the tech stock sector, maybe look outside of tech stocks, better still talk to a financial expert
A colleague once proposed the idea of diversification to me, hopefully for positive results to offset any negative performance. At once, I backed it up using an advisor in order to avoid any fiasco. As of today, my portfolio has yielded over $450k in profits, from an initial $180k this year alone.
Please can you leave the info of your investment advisor here? I’m in dire need for one.
There are a lot of independent advisors you might look into. But i work with Viviana Marisa Coelho and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
I just checked her out and I have sent her an email. I hope she gets back to me soon.
This was a really inspirational interview Erika. I learned allot from this podcast with Morgan. Here’s to Intentionally applying his words of wisdom. 😊
This podcast is packed with deep insights and information anyone can use to propel their financial goals. So upbeat and entertaining. Thank you, Erika!
Entertaining but he is selling his book.
@@human1513 Yes but I have no problem with that because the book contains valuable information.He should be compensated for sharing that with us.
@@n.c.467 Agreed; his book is one of the most interesting books, if not the very most, I read about Money topic in the last decade.
This is one of the best interviews I have ever seen! Great content and a FANTASTIC guest. I had already read the book and now that I listened to him and heard his genuine personality you can tell he’s the person you want to be listening to and reading from. Thank you for this content.
This was super useful ! It is very easy for lot of people (including myself) to miss little details which this video required me to think about ! Thank you Erika and Morgan !
I appreciate very much being able to view and have your awesome podcast around. Thank you!
One of the best talks I’ve heard. Insightful interview and Erika is on point w her questions. Can’t wait to get his book.
If a good amount of folks do what you teach, just imagine how many millionaires we already have or will have in the future. Warren Buffet and Cathie Woods just to mention a few emphasizes on the importance of investing, I've been keen to invest lately, my challenge is knowing when to sell/hold and how to grow profit consistently even in an unsteady market. Great contents as always!
it's alright, the average investor struggles with when to sell or hold, as for making consistent profit even during a market crash, your best bet is having a professional guide you.
@Stanley Edwin which advisor do you use and are you making more than average returns?
@Stanley Edwin Thanks for the info. I found her website and it was really impressive, she is a fiduciary, who will act in my best interest.
Don't buy and sell as you will lose. Just keep buying when the market is up or down into a passive global index fund. It's called dollar cost average. Over 5 to 10 years you will see massive growth. 15 to 20 years will accumulated a million. Find a compound interest calculator
Thank you Ericka i learned more than i anticipated in this podcast. Thank you so much for inviting successful people so we can learn from them ♥️
This was a great podcast. Thank you Erika!
I’m in my early 30s and trying to learn more about saving and investing for my future. I also typically hate podcasts but this video was so easy to watch and listen too. To be honest, I can’t believe I listened to the whole thing at once but this was super insightful and helpful in getting certain ideals to takeaway for financial planning. I really liked the part about managing expectations for managing your finances. Thanks Erika and Morgan!
get help Friedaannellis she will guide you step by step
I like that Morgan removed the pressure to "find the right answer" to financial success, as he said, "there is no one right answer." It was illuminating to hear about managing one's expectations and not spending just to impress. I particularly liked the discussion about patience in the long-term, and that looking for a quick fix is not the road to success. Lastly, it's super refreshing to have a confident young woman as a role model who digs deeper into the how & why of finance. Thank you for this interview!
The information given is priceless!! Thoroughly enjoyed all the gems and nuggets! THANK YOU Erika for sharing your gifts and being open to the desire of educating all people who are open to receiving the information! I appreciate you!
Superb. I've read the book and was surprised how much of the contents resonated with me. It felt like Morgan Housel knew me personally and my saving/spending habits. I'm glad the book has sold 2 million copies as I'm sure it would be helping people everywhere to take control of their finances and their lives. Great podcast and interview Erika - wish you the utmost success.
i am experiencing one of the most challenging phases of my life, Lost a fortune lnvesting in emerging companies. Hopeful, for a turnaround. but How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
I agree. Based on personal experience working with an investment advlsor, I currently have $985k in a well-diversified portfollo that has experienced exponential growth. It's not only about having money to invest in st0cks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
There are a lot of independent advisors you might look into. But i work with Viviana Marisa Coelho and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
This is by far one of the best financial conversations I've had the pleasure of witnessing
Thank you for covering so many topics in a tangible way! From reflecting on our expectations of money and finance to lifestyle choices and goals. All of these intersect and influence the outcomes of the other aspects of our lives.
Hi! I am a newspaper columnist and book writer in the Philippines. Kudos, Erika. Your video interviews with productive individuals never fail to draw my attention. Each episode is a learning experience.
Philipina is Tagalog, Mabuhay
Building wealth and achieving financial independence is more achievable than commonly perceived. With access to accurate information, establishing lasting financial stability and prosperity becomes attainable. Engaging in prudent investment remains a primary avenue for generating substantial income and sustaining enduring wealth.
To begin building wealth, define your goals and assess your risk tolerance, either independently or with a financial advisor. By gaining insights into savings and investments and creating a clear plan, you can attain financial stability and effective income management.
Hiring a skilled financial advisor like *Mary Onita Wier* can lead to success, as evidenced by my seven-figure gain in just the first quarter of this year, despite market concerns.
@@ThomasChai05 I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
Many lack access to insightful knowledge, causing anxiety due to information gaps. Personally, I've earned $35k in passive income with *Mary Onita Wier* , unaffected by market fluctuations.
Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
Throughly enjoyable and useful information. I’ve just recently discovered your channel and started watching from your first video. Crazy to see the progression over the last few years condensed into 2-3 weeks. Easily one of my favourite and most useful finance channels. Thank you Erika.
Very insightful. My favorite quote is, "I want wealth, not a lot of nice stuff."
Incredibly amazing podcast Erika! I'm SO HAPPY you chose Morgan Housel. I didn't know that Morgan Housel had to suffer so many rejections before getting his book published. I was also surprised that his book was #1 bestseller in India, instead of United States. Thank you so much for everything you've taught me about money Morgan Housel!
i have no words to express my gratitude for this podcast ❤
Thank you, Erika and Morgan! I’ve read The Psychology of Money twice this year. Def one of my faves 👍
Thanks Erika for that great interview with Morgan. He is such a free spirit and focused gentleman. Learnt a lot from him.
I really enjoyed this episode. The information was worth reading the book and I have taken so much away to implement in my own finances.
Let's discuss the Blcktken300 guys. This is failproof and barely any asset can be labelled failproof at all.
I am happy I tapped into this. Loved especially the part about not allowing yourself to be tricked by what you see looking at the lifestyle of others.
This is the best interview I’ve seen in a long time, thank you both so much!
Thank you. Top quality as always 🙂
I can't believe I watched the whole show and was hanging on every word the two of you said. Great job! Where do I sign up? 😊
Erika is so not just a TikTok star lol! She’s a super smart hustler and educator. Much love and gratitude for your content❤❤❤
This episode made me less fearful of investing + overall personal finance. Great reminder of the importance in patience and how time is wealth. I liked how financial lessons were compared to real life stories/ applications in other fields. Makes finance more digestible to folks not in the business. Looking forward to more- thank you!
The psychology of money is one of the best books I’ve read. Never knew who the author was. Thank you for sharing this interview.
This was a brilliant interview on the philosophy of money, happiness and life. It reiterated so many important values in life that can prepare you for taking risks in life with confidence and courage. I love this interview. Thank you Erika for doing this. !
I was happy that Morgan mentioned India as the place where so many copies sold because as an Indian, I could truly relate to so much of the advice that Morgan shared. This is how most Indians are with money. The are generally ambitious and conservative at the same and use instruments like real estate and gold to hedge against stock market volatility. Growing up, I saw how my grandmother and mother saved small amounts consistently as a habit and always kept their spending in check. This in turn ensured that I got to study in an expensive private college and didn't have to take a student loan. Even though the expenses were never extravagant, we had a super happy life and still do.
This is the most honest interview information on the net!!!! I will be listening on repeat ❤Thank you!
Thank you, Erika, for this episode with Morgan. It changed my thinking about many things. It was good advise and most importantly right worldview. Looking forward to see and hear another of your episodes in the future ❤
Truly love your candidness, I DCAed today again for BTC Blcktken300 and ETH
Great interview, very educative and mind changing. I hope many people get to view and learn from this interview, questions were on point.
Thank you!
It's just amazing.. I loved this book and equally great podcast, which teaches to be grounded.. Thank you
So I found you through your short about flight delay policies and until now, never heard your interviews. This was marvelous! So insightful, educational, and entertaining. I am looking forward to listening to the rest if them.
“No one is thinking about you..as much as you are. “ this is my take away from this great podcast.
I told my son, " nothing matters and no one cares".
If a stranger sees me in a crappy car, do they care?? How long are they even going to remember seeing a crappy car??)))
I really liked the idea that people see your nice car and imagine themselves getting all the vicarious ego stroke)))
His EQ is incredible. Props to you, Erika, for getting him to your channel! His words of wisdom and knowledge is amazing. You just want to keep listening. Great questions. Overall an amazing content to consume
This video has been super helpful to understand the world of finance better. It's so simplified that you don't even need so much energy to concentrate and get the best of it. Absolutely love the work you're doing, Erika. You're teaching everyone the "how to" about financial things and being a non-finance person myself, this is definitely helpful. Thanks again!
Any takeaways?
At age 80 I enjoy Morgan. My legacy is leaving this knowledge to my 3 grandchildren. Thank You.
Its a real privilege to have Morgan Housel on your podcast. I really learnt a lot from the key questions that you have put through and answers by him. Well done and thank you heaps to both of you.
This podcast ignited something in me with much clarity that I have the passion to help people to be financially literate by sharing Mr Morgan’s wisdom. This is the first podcast ever that I watched multiple times.❤
I agreed with so much he said. I've moved beyond FIRE to FIGA which is Financial Independence Go Again. Having reached financial independence in my early 30's I stopped working to become a full-time solo parent which was great! Parenting consumed all my energy for at least 15 years but eventually, I missed the mental stimulation of the business world, the social interaction of my professional peers and of course the perks of discretionary income. I also think the last thing teenagers appreciate is having mum home everyday!!!!!
Thank you for making this podcast and sharing your knowledge 🎉
The information today was so so good for me in every way. Thank you for everything you do on the show.
what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfolio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making up to $250k in couple weeks during this crash and I'd like to know how.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
I completely agree with you, they can have a positive impact on an individual's portfolio. I started with a trust Financial Advisor named “Margaret Johnson Arndt, She is verifiable, and her approach is transparent, allowing me full ownership and control of my portfolio while charging very low fees in comparison to my portfolio earnings.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
My consultant is Margaret Johnson Arndt She has since provide entry and exit points on the securities I focus on. You can look her up online if you care for supervision. I basically follow her trade pattern and haven’t regretted doing so
Impressive, i’ll most definitely check her out. I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
Erika re-tought me that: patience is a virtue, especially in finance. Thank you both!
I love this. Watched this at work and as someone in my thirties without proper knowledge in finance, this is quite a simple yet feasible inputs shared that I could follow through.Thank you!