Ep 27: How I Lost $1,000,000
Description
When people around you are telling you that you’re doing well, you’re never going to know what you’re missing out on. This is what happened to me early in life and how I lost $1M – just because I didn’t know better and I wasn’t around people who did.
Listen now to learn how I lost $1 million and what I could’ve done earlier to prevent it, so you can avoid making the same mistakes I did!
Key Talking Points of the Episode
00:00 Introduction
02:56 What could have happened if I started investing earlier?
06:29 What is holding most people back from investing earlier?
08:46 How did things change when I entered the workforce?
13:38 How can being around the right people help you learn to build wealth?
15:49 How can learning about managing your finances help generations after you?
18:15 Why is it important for you to understand how much you’re losing if you’re not investing?
19:46 How can taking action today help you achieve financial freedom faster?
23:13 What can you do to start building your wealth today?
Quotables
“You’re listening to my mistakes, so learn from it because if you don’t learn from my mistakes, you’re gonna end up making it yourself and it’s too late.”
“Although I had some cash, it was being eaten alive by inflation when I could’ve literally taken that money and instead of opening a fancy bank account with 4 clicks, I could’ve opened a Roth IRA with also 4 clicks and done the exact same thing.”
“If I continued down that path of thinking, not changing the way I think and rewiring my brain, I would continually not ever getting ahead.”