How A 25 Year Old DAD Built A $300,000 Portfolio From His iPhone! | Dontez Akram
Dec 16, 2024
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Dontez Akram, a savvy 25-year-old dad, built a remarkable $300,000 investment portfolio using just his iPhone. He shares his journey from young parenthood to financial success, emphasizing the importance of starting small and investing consistently. The conversation dives into strategies like dollar-cost averaging, identifying profitable stocks, and utilizing cryptocurrency wisely. Dontez also discusses overcoming emotional hurdles in investing and how to turn market dips into opportunities for growth. His insights inspire listeners to take control of their financial futures.
Investing regularly, even in small amounts, can lead to significant wealth accumulation over time despite market fluctuations.
Education plays a vital role in successful investing, empowering individuals to make informed decisions and understand financial markets effectively.
Adopting a growth mindset allows investors to view market dips as opportunities, fostering confidence in their long-term investment strategies.
Prioritizing discipline and delaying gratification in financial decisions is essential for achieving lasting success and avoiding lifestyle inflation.
Deep dives
The Importance of Consistent Investing
Regular investing, even in small increments, can significantly grow wealth over time. A method often discussed is to invest a portion of income every payday, regardless of market conditions. Investors should adopt a mindset of buying when prices dip, as this builds a habit of consistently entering the market without being influenced by emotional highs and lows. Over time, this disciplined approach can lead to substantial financial gains, as the market generally trends upward.
Overcoming Fear and Ignorance
Fear of the unknown often holds people back from investing successfully. Many people feel they lack enough money to start investing, but it's more about a lack of knowledge. Instead of being overwhelmed by a limited understanding of financial markets, individuals should utilize their downtime—such as evenings spent watching TV—to educate themselves about investing. Gaining knowledge empowers individuals to take informed steps towards financial success.
The Role of Education in Investment Success
Education is a crucial factor that differentiates successful investors from those who struggle. Understanding investment principles through research and self-education can significantly impact one's financial decisions. Several successful investors have pointed out that wealth accumulation stems from investing in their education about money management and the mechanisms of financial markets. Engaging with resources like online courses, books, or informative videos fosters a deeper comprehension of investing.
The Significance of a Growth Mindset
Embracing a mindset focused on growth and learning, rather than fear of loss, contributes to investment success. Overcoming a fixed mindset allows individuals to view market fluctuations as opportunities rather than setbacks. By acknowledging the transient nature of financial markets, investors can remain steadfast in their strategies, unaffected by short-term uncertainties. This inherent belief in future growth encourages individuals to act confidently and consistently in their investment approaches.
Financial Discipline and Sacrifice
Achieving financial success requires considerable discipline and the willingness to sacrifice immediate gratification for long-term rewards. It’s essential to avoid lifestyle inflation by keeping expenses low while simultaneously increasing income. Prioritizing financial goals and adhering to investment strategies despite societal pressures is crucial in the wealth-building journey. Persistent effort and the ability to perform delayed gratification significantly enhance one's financial standing in the long run.
Navigating Painful Lessons in Investing
Experiencing significant losses in investments can be a painful yet valuable learning process. Many individuals have encountered setbacks, such as investing in volatile assets without a clear exit strategy or stop-loss in place. These experiences highlight the importance of setting predetermined thresholds for loss and profit to minimize risks. Having a robust investment strategy helps individuals manage their emotions and ultimately allows them to make more educated, calculated financial decisions.
Balancing Wealth and Personal Growth
Wealth is not solely measured by financial gains, but also by achieving balance across different aspects of life. Striving for a well-rounded existence means finding harmony between work, family, health, and spiritual well-being. Recognizing that personal growth often requires periods of imbalance can lead to more profound insights and self-awareness. Developing routines and habits that prioritize self-care and education fosters a resilient mindset conducive to achieving long-term financial and personal goals.
The Value of Community and Support
Surrounding oneself with like-minded individuals fosters motivation and accountability in the investment journey. Engaging with a supportive community can alleviate feelings of isolation or doubt during challenging times in financial ventures. Sharing experiences and success stories within this network builds confidence and reinforces the belief that growth is indeed possible. Encouragement from peers can act as a powerful catalyst, propelling individuals toward sustained financial progress.
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Watch our episode with Dontez on how to take control of your life and grow. https://youtu.be/SVxlIC6cTzQ
00:00 Intro
02:37 Why you MUST invest
04:55 Ignorance is killing you
08:21 Let the haters fuel your success
12:48 Dontez early story (Having a child at 18)
19:44 The mindset to attract big wins
23:30 How to adopt winning habits
31:48 How to start investing with just $100
37:16 Framework to beat inflation in the US
42:52 The easiest way to identify profitable stocks/coins.
50:00 Should you buy Bitcoin at 100k?
56:06 How to find valuable information on social media
1:00:19 Full research process to find profitable coins/stocks.
1:11:56 Should you invest in Safe Coins or Meme Coins (Explained!)
1:18:36 How to know when to cut your loss or invest more
1:26:30 The simple way to make profit studying charts.
1:30:40 How to avoid loss on stocks.
1:34:00 How to keep your emotions in check.
1:45:12 “Stick to your script!”
About the video
@_therealtez started investing in 2019, with just $20 and made it a routine. Over the last 4 years he has made over $300k from both stocks and crypto and $30k in dividends. In this episode, he breaks down how you can start building your stocks/crypto portfolios with as little as $100 and his research process to find high yield stocks and cryptocurrencies.
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