The Wealth Without Wall Street Podcast

Round Table | Dumb Mistakes People Make with Money (And How to Avoid Them)

Mar 4, 2025
Mark Karaguchi, an experienced real estate investor and financial coach, joins Jonathan Day, a financial coach and pastor, to share their biggest money mistakes. They discuss the dangers of chasing shortcuts and the emotional decisions that can lead to financial blunders. With practical strategies for passive income and smart investing, they emphasize the importance of financial education and a proactive mindset. Listeners will learn how to avoid scams, make informed choices, and understand the difference between income and expenses.
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ANECDOTE

Penny Stock Pitfall

  • Joey Muray bought CMKM Diamonds penny stock on a tip.
  • The stock became worthless, illustrating the risk of blind investments.
ANECDOTE

Unsecured Lending

  • Mark Karaguchi lent money without a personal guarantee.
  • He partially recovered funds but learned the importance of stronger guarantees.
ANECDOTE

All Eggs in One Basket

  • Jonathan Day invested heavily in a single deal, a Ponzi scheme.
  • Though he performed due diligence, concentrating funds magnified the loss.
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