My Worst Investment Ever Podcast Dave Buck – Have a Purpose for Your Investments
BIO: Dave Buck is fascinated by the concept of time and how it is applied in everyday life. It is one of the main reasons he started Kairos Management Solutions.
STORY: Dave was a very disciplined saver and investor from the time he got his first job when he was 16. The only mistake he made was not managing his portfolio according to the lifestyle he wanted to live in retirement.
LEARNING: Start to save for the future today. Have goals for your savings.
“Manage your portfolio to match the desired lifestyle you want to have.”
Dave Buck
Guest profile
Dave Buck is fascinated by the concept of time and how it is applied in everyday life. It is one of the main reasons he started Kairos Management Solutions. Kairos is one of the Greek words for time, tied to accomplishing a crucial action or performing in a decisive moment. Through his company, Dave offers a variety of services from individual and corporate time management, leadership management, retirement and lifestyle time management, and sales productivity enhancement. The corporate mission of Kairos Management Solutions and Dave is to help people move their time from finite to infinite.
Worst investment ever
Dave got his first job when he was 16, and from then, he started to save diligently until he was in his 50s. When he approached retirement age, he realized that he didn’t know what he wanted to do with the funds he’d been saving for years. He had not aligned his investments with the retirement lifestyle he wanted, and now he wasn’t sure if the funds were even enough to lead the life he wanted.
Lessons learned
- Start to save for the future today.
- Adopt a broader strategy of the purpose of the funds you’re saving and how that purpose aligns with your lifestyle.
- Start by saving a small amount, even if it’s just 5% of your income, and be consistent.
Andrew’s takeaways
- Have goals for your savings. Are you saving for the sake of saving?
- What is the purpose of the funds you save?
- Be frugal, be careful with your money, but stay focused on saving it.
Actionable advice
Get started with saving, be disciplined and keep at it. It’s okay to pause due to various factors. Just don’t stop forever. Your portfolio can grow if you’re not contributing to it but get back to contributing for as long as you possibly can.
No.1 goal for the next 12 months
Dave’s goal for the next 12 months is to implement his initial business strategy to such a point that he doesn’t have to draw on his current savings plan.
Parting words
“As you plan projects, invest your time as you look to how you manage it. Take what you do and add 20% to it. It’s always going to take longer than what you anticipate.”
Dave Buck
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Connect with Dave Buck
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points