SOSCAST | EP 10 | Money Talk: Facebook, Warren Buffet, SNL, Salt Bae

Feb 9, 2022

Get ready to dive into some intriguing financial insights! Discover Warren Buffett's four key habits for success. Explore which college majors offer the worst return on investment. Unpack the chaos around Facebook’s whistleblower fallout and its impacts. Marvel at Gabrielle Union's wild spending habits and the striking Maserati blunder in Papua New Guinea. Learn essential Reddit financial tips and evaluate cryptocurrencies like a pro. Plus, peek into SNL cast salaries and Salt Bae's outrageous menu prices!

01:51:00

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ADVICE

Choose Friends Who Raise You Up

Pick friends who elevate your goals and skills because your circle shapes your future direction.
Regularly compare the five people you hang out with most to the five you want to become and upgrade your network.

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ADVICE

Get Smarter A Little Every Day

Improve daily by learning something small each day and applying it to get compounding progress over years.
Treat incremental improvement like compound interest and measure change across months and years.

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ADVICE

Sharpen Communication Skills

Hone written and verbal communication; it can increase your value substantially in business and relationships.
Read classics like How to Win Friends and Influence People and practice remembering names, complimenting, and listening more.

Get the Snipd Podcast app to discover more snips from this episode

Warren Buffett’s Four Habits to Move from Dreaming to Doing

02:42 • 12min

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Which College Majors Deliver Poor ROI

14:43 • 11min

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Facebook’s Troubles and Employee Pay After Outages

25:30 • 10min

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Wild Money Move: Celebrity Strip Club Spending

35:18 • 11min

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Wild Money Move: Papua New Guinea’s Maserati Mistake

46:01 • 7min

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Financial Advice for Dummies: Reddit Wisdom Summarized

53:06 • 13min

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Crypto Corner: Top Ten Cryptocurrencies and How to Evaluate Them

01:06:04 • 12min

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SNL Pay: What Cast Members Earn and Career Upside

01:18:05 • 11min

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Save That Money Story: Salt Bae’s Astonishing Menu Prices

01:29:13 • 11min

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Listener Q&A: Mortgages, Books, Career Advice, and Youth Financial Habits

• Mentioned in 62 episodes

The Richest Man in Babylon

George Clason

This book, written by George S. Clason, uses a series of parables to convey fundamental principles of personal finance and wealth accumulation. Published in 1926, it remains highly relevant today, offering practical advice on saving, investing, budgeting, and financial discipline. The parables are engaging and easy to understand, making complex financial concepts accessible to readers of all backgrounds. Key principles include paying yourself first, living within your means, and making money work for you through wise investments. Despite its historical setting, the book's core lessons are adaptable to modern financial practices and have had a profound impact on countless readers worldwide.

#11257

• Mentioned in 4 episodes

The Bogleheads' Guide to Investing

Mel Lindauer

Michael LeBoeuf, PhD

Taylor Larimore

This book is a DIY handbook that espouses the investment wisdom of John C. Bogle. It covers a wide range of topics from the basics of stocks and bonds to more complex subjects like tax-efficient investing, asset allocation, and avoiding common investing mistakes. The authors stress the importance of having a clear investment plan, starting early, and keeping costs low. The book also includes advice on choosing a brokerage, rebalancing your portfolio, and managing financial windfalls. It emphasizes that successful investing is more about discipline and patience than trying to pick the 'hottest' stocks or time the market.

#10

• Mentioned in 391 episodes

Rich Dad Poor Dad

What the Rich Teach Their Kids about Money - That the Poor and the Middle Class Do Not

C.P.A. Sharon L. Lechter

Robert Kiyosaki

The book tells the story of Robert Kiyosaki's two fathers: his 'poor dad,' a highly educated but fiscally poor man, and his 'rich dad,' the father of his best friend who was a successful entrepreneur. It emphasizes the importance of financial education, distinguishing between assets and liabilities, and building wealth through investing in assets such as real estate and businesses. Kiyosaki argues that a good education and a secure job are not guarantees for financial success and provides practical lessons on how to make money work for you rather than working for money.

#16

• Mentioned in 328 episodes

How to Win Friends and Influence People

Dale Carnegie

First published in 1936, 'How to Win Friends and Influence People' by Dale Carnegie is a timeless guide to improving interpersonal skills. The book is divided into four main sections: Six Ways to Make People Like You, Twelve Ways to Win People to Your Way of Thinking, and Nine Ways to Change People Without Giving Offense or Arousing Resentment. Carnegie's principles emphasize the importance of genuine interest in others, active listening, and avoiding criticism and argument. The book offers practical advice on how to build strong relationships, communicate effectively, and influence others by aligning their self-interest with yours. It has been a cornerstone of personal development and business success for generations.

#119

• Mentioned in 123 episodes

I will teach you to be rich

Ramit Sethi

This book, updated for a new era, provides a simple and powerful 6-week program to manage finances. Ramit Sethi focuses on behavioral psychology to help readers save more, earn more, and automate their finances. Key lessons include focusing on big wins rather than small savings, automating financial tasks, and spending guilt-free on things you love while cutting back on unnecessary expenses. The book also covers topics like crushing debt, setting up high-interest bank accounts, and long-term investing in index funds.

The SOSCAST hosted by Adam Sosnick is a personal finance show dedicated to helping you build your wealth and breaking down financial topics in a language everyone can relate to.

Follow on social media:

Instagram: https://www.instagram.com/sostalksmoney/

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About Host:

Adam “Sos” Sosnick has lived a true rags to riches story. He hasn’t always been an authority on money. In fact, he was quite the opposite... Before hitting it big in finance in his thirties, he worked every job under the sun. He was a radio advertising salesman for Clear Channel, a party promoter, a hotel manager, a substitute teacher, a sports agent, and he even did standup comedy. While this life had a lot of perks, the reality was that he was making NO money.

In 2006, eager to start making serious money, Sos got an entry-level job at a financial firm as a cold-caller. After a few years of putting his nose to the grindstone and learning the ropes of the finance trade, Sos got promoted to VP of Sales and began to rack in serious money. Despite the financial world around him crumbling in the 2008 Great Recession and people going from making millions to losing their jobs overnight, Sos’s net worth skyrocketed. Seeing what was happening around him led him to recognize the SAVE THAT MONEY mantra.

Sos started a new project to wake young people up when it comes to money. He incorporated his high profile friends and influential financial connections to show that spending money is not that cool, and it’s all about #SaveThatMoney. And then what do you do with that money? You save to invest. Invest in appreciating assets, yourself, and helping people around you.

Email: adam@valuetainment.com

Music co-owned and licensed with permission by Azim Rock

***This channel is associated with Valuetainment Media founded by Patrick Bet-David***

#SOSCast #ValuetainmentEconomics

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