ICR167: How to Get Poor Quick

We often hear about strategies to get rich quick and treat these, quite rightly, with suspicion and distrust.

Instead of focusing on dubious get rich quick schemes, in this episode of Informed Choice Radio I’m sharing some ways to get poor quick.

The goal of sharing these lessons is to help you identify behaviour that will result in you losing money.

Unlike making money where guarantees are few and far between, I can absolutely guarantee you that the ten lessons shared in this episode of the podcast will result in you losing money.

Personal finance news update

Our newsreader this week is Informed Choice paraplanner Andy Bodman.

-The Dow Jones Industrial Average has set a new record level, trading above 20,000 for the first time on Wednesday this week.

-Girls get less than boys in pocket money each week, according to new research from Childwise.

-Two thirds of us expect to leave an inheritance and, according to new research, one in five adults are relying on receiving one.

-60% of actively managed investment funds perform better than index trackers.

-Professor Ted Malloch, the man tipped to be Donald Trump’s ambassador to the European Union, has predicted the collapse of the Eurozone within the next 18 months.

Aftershow links

–January book giveaway competition

–Too Much of a Good Thing: How Four Key Survival Traits Are Now Killing Us by Lee Goldman

–Deep Work: Rules for Focused Success in a Distracted World by Cal Newport

Get answers to your personal finance questions

Do you have a personal finance or investing question for Martin?

Email martin@icfp.co.uk or ask on Twitter @martinbamford.

You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.icradio.co.uk/voicemail to leave an online voice message.

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