Mo Money #441 Build a second income investing
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Mar 12, 2025 Discover how to build a second income through smart investing! The discussion covers investment basics, from index funds to growth strategies. Learn about common mistakes that hinder progress and the importance of a diversified portfolio. Hear tips on choosing the right platforms and automating investments. The conversation emphasizes the power of compounding and the effectiveness of index funds. Get inspired to confidently manage your finances and take actionable steps towards a brighter financial future!
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Start Now, Build Momentum
- Start investing now, even with small steps, to build momentum.
- Money is a momentum game; consistent actions drive long-term results.
Power of Small Changes
- Ben Nash shared an example of a person in their mid-20s who increased savings by $1,000/month and invested $61,000 in one year.
- By age 60, these actions alone projected a $3 million portfolio, generating $150,000 annual income.
Challenges in Investing
- People struggle with investing due to information overload, balancing present and future needs, and fear of mistakes.
- These combined challenges often lead to inaction or repeating past, potentially less effective behaviors.
