The chapter explores the impact of taking on debt to purchase depreciating assets like cars and the importance of paying off debt over investing. It delves into borrowing money at low-interest rates to invest in the stock market, discussing risk assessment and leveraging strategies. The conversation also emphasizes the significance of developing a clear plan for investing, minimizing fees, and balancing individual stock picking with index funds for long-term growth.
Robert Leonard talks to Jeremy Schneider all about personal finance, and his useful strategies for building wealth for the millennial generation. Jeremy is a successful entrepreneur and software developer, and the founder of Personal Finance Club, a resource that aims to aid investors in the most effective path to building wealth.
IN THIS EPISODE, YOU’LL LEARN
00:00 - Intro
12:57 - The three life-long habits to form in order to build wealth and stay wealthy.
22:03 - A six-step personal finance plan to become a millionaire.
22:03 - How to minimize or pay off debt.
38:38 - Rules for smart investing.
38:38 - Some approaches to investing in the stock market.
01:15:20 - The first thing you should do to get started on your wealth building journey.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
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