Don't Make These Mistakes | Brutally Honest Money Advice from One of the World's Wealthiest Jews

10 snips

Mar 26, 2024

Dr. Rich Roberts, a successful entrepreneur and philanthropist who sold his pharmaceutical business for $800 million, shares invaluable insights from his journey. He discusses critical financial mistakes people often make, particularly in investing, and the importance of diversification and disciplined strategies. The conversation also touches on the burden of wealth, addressing the emotional complexities that come with financial success. Additionally, Rich explores the evolving landscape of entrepreneurship, the impact of technology, and even shares some political predictions for the upcoming presidential election.

Ask episode

AI Snips

Chapters

Books

Transcript

Episode notes

ADVICE

Use Price-Cost Averaging

Invest regularly using price-cost averaging by buying fixed amounts periodically.
Ignore market fluctuations and keep investing regardless of ups and downs to benefit long term growth.

ADVICE

Avoid Risks and Diversify

Avoid unregulated investments and trusting anyone who guarantees returns.
Diversify investments; never put more than 2% of assets in one investment.

INSIGHT

Different Levels of Wealth

True wealth varies from $1 million to billions, each with distinct financial impacts.
Many who appear wealthy live paycheck to paycheck driven by insecurity and need to impress.

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

Get the app