Everything You’ve Always Wanted to Know About Wealth

You MUST listen if you want to:Conceptualize how to build your earning and investing potentialLearn to manage your finances and make safe, smart investmentsUnderstand important financial concepts like inflation and indexingSHOW NOTES3:05 Why should you listen to Todd’s advice on personal finance?4:45 This podcast will teach the fundamentals of finance, not how to dedicate your life to it6:00 Why this is NOT advice on how to get rich quickly and is instead about building long-term wealth8:00 What does it mean to “invest in yourself”?13:45 How to make the most of your hours in the day to optimize your earning potential16:00 The power of compound interest19:15 Methods of acquiring money to invest with (DISCIPLINE REQUIRED!)19:45 The “grandma’s envelope” method of budgeting26:15 How to use no-interest, no-payment credit cards to acquire “free money” with which to invest in safe assets29:00 Why losing money hurts more than making money helps30:30 Bankroll management & the Kelly Criterion: The importance of not over-betting33:50 The difference between investing and speculating41:25 What is inflation and why must you consider it in your investment strategy?44:30 Why sticking your money under your mattress is a financial disaster47:30 What is indexing and why is it typically a successful investment strategy?50:15 Todd’s idea of the “Hippocratic oath of investing”51:45 How to gauge the strength of an investment based on your portfolio53:15 The concept of related rates: how to operate as a bank56:00 Credit cards: Hugely advantageous or a financial plague?QUOTES“Acquiring wealth means buying assets or acquiring (building assets) and then having those assets make you more money.” (6:45)“The first way to acquire a surplus and start building wealth is by investing in your earning potential.” (16:55)“You don’t get to invest the money you make, you get to invest the money you save and put toward investing.” (17:55)“Whatever amount of money you’re making, I promise you someone is making 90% as much as you that is still surviving.” (21:55)“If you are in debt to your credit card, make that a priority, pay those off first.” (25:25)“[Warren Buffet] is not relying on tomorrow’s market quotation to make him money, he’s relying on the underlying economics of the business to make him money.” (38:10)“The reason [indexing] is safe… is you own so many different businesses that if one business has a major problem, it’s only a small portion of your portfolio…” (48:55)“You want to be investing in stuff that is somewhat secure and that you could take the losses on if you had to and then acquiring your capital for less than what you’re putting out.” (54:30)CONNECT WITH TODD…WEBSITE: toddvdating.comYOUTUBE 1: https://bit.ly/ToddVDatingYOUTUBE 2: https://bit.ly/AskToddVFACEBOOK: https://bit.ly/ToddVInsidersINSTAGRAM: instagram.com/toddvdatingTodd’s upcoming digital course: verbalgameacademy.comSubmit a question for the podcast: [email protected]